Automotive LIDAR Sensors Market Is Witnessed to Grow USD 818 Million, at 47% CAGR during 2018-2022 | Technavio
LONDON--(BUSINESS WIRE)--Jun 28, 2019--
According to Technavio Research Report “ Automotive LIDAR Sensors Marketby application (ADAS and autonomous vehicle) and by region (the Americas, EMEA, and APAC) is witnessed to grow USD 818 million, at a CAGR of 47% from 2018 to 2022”.
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Technavio has published a new market research report on the global automotive LIDAR sensors market from 2018-2022. (Graphic: Business Wire)
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Global Automotive LIDAR Sensors Market: Rapid developments in autonomous vehicle technology
Automotive OEMs are competing for becoming the first to develop fully functioning autonomous vehicles and capture the market. Companies such as Delphi, Intel, Mercedes-Benz, and Ford are among the major OEMs and Tier-1 suppliers that have invested heavily in the development of automotive vehicles. With the rapid development in autonomous vehicle technology, the global automotive LIDAR sensors market is expected to witness significant growth during the forecast period.
According to a senior analyst at Technavio, “Apart from the rising development of autonomous vehicle technology, factors such as the key role of LIDAR sensors in ADAS and the development of more versatile solid-state LIDAR sensors will fuel the growth of the global automotive LIDAR sensors market during the forecast period.”
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Global Automotive LIDAR Sensors Market: Segmentation analysis
The global automotive LIDAR sensors market research report provides market segmentation by application (ADAS and autonomous vehicle) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas region held the largest share of the market in 2017, accounting for more than 48% share, followed by EMEA and APAC respectively. Although the APAC held the smallest share of the market in 2017, it is expected to register the highest incremental growth during the forecast period.
Few Major Players for the Automotive LIDAR Sensors Market are:
- Quanergy Systems
- Velodyne LiDAR
Global Automotive LIDAR Sensors Market: Deployment of Continuous-wave frequency modulation (CWFM)
LIDAR sensors based on continuous-wave frequency modulation (CWFM) technology is one of the major trends being witnessed in the global automotive LIDAR sensors market 2018-2022 . The next generation LIDAR sensor manufacturers are working on the CWFM technology for LIDAR sensors. This approach has several advantages over conventional LIDAR sensors. CWFM LIDAR sensors are immune to background light and can detect the velocity as well as the distance of the object.
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