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Automotive LiDAR Sensors Market | Key Role of LiDAR Sensors in ADAS to Boost the Market Growth | Technavio

LONDON--(BUSINESS WIRE)--Oct 15, 2020--

The automotive LiDAR sensors market size is poised to grow by USD 759.27 million during 2020-2024, progressing at a CAGR of over 28% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global Automotive LIDAR Sensors Market 2020-2024 (Graphic: Business Wire)

LiDAR sensors are widely used to automate driving process vehicles through obstacle detection and avoidance, which would enable safe navigation. As almost all the original equipment manufacturers (OEMs) and Tier-I players are working toward automated driving, LiDAR technology occupies a very prominent position in achieving level 3 and level 4 in vehicle automation. Car manufacturers such as Delphi, Continental, Bosch, Audi, Mercedes-Benz, and Google are working on expanding the autonomous driving concept and advanced driver assistance systems (ADAS) systems in vehicles. With the increasing shift toward self-driving or unmanned vehicles, there will be an increase in the application of automotive LiDAR sensors.

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Report Highlights:

  • The major automotive LiDAR sensors market growth came from the ADAS segment. The adoption of automotive systems such as adaptive front lights, adaptive cruise control, and collision warning systems is expected to increase during the forecast period owing to their ability to enhance the safety of vehicles. ADAS is primarily targeted to reduce fatigue during long drives, as well as for automating repetitive tasks. These factors will drive the demand for the automotive LiDAR sensors market during the forecast period.
  • North America was the largest automotive LiDAR sensors market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The high popularity of recreational vehicles, the increasing adoption of stability control systems in SUVs, and the continuous push from governments on improving the safety of vehicles will significantly influence automotive LiDAR sensors market growth in this region.
  • The automotive LiDAR sensors market is fragmented. Continental AG, Denso Corp., Hella GmbH & Co. KGaA, Infineon Technologies AG, LeddarTech Inc., Neptec Technologies Corp., Quanergy Systems Inc., Valeo SA, Velodyne LiDAR Inc., and ZF Friedrichshafen AG. are some of the major market participants. To help clients improve their market position, these automotive lidar sensors market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the automotive LiDAR sensors market 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Rapid Developments in Autonomous Vehicle Technology will be a Key Market Trend

Because of the evolution from the infotainment concept to telematics features in vehicles, functionalities such as ADAS and vehicle-to-vehicle (V2X) are gaining wide significance. The growing technological advances in driverless cars have necessitated the use of efficient safety features besides infotainment, security, and performance efficiency, which is one of the critical automotive LiDAR sensors market trends. With regulations mandating several safety aspects, consumer demands are also pressurizing OEMs to offer new technology-enabled features such as radar sensors and blind-spot monitoring. Favorable government regulations that promote road safety will enhance the deployment of ADAS in autonomous vehicles. Additionally, the emerging V2X connectivity will play a vital role in achieving autonomous driving and increasing the adoption of ADAS and subsequently, LiDAR sensors in vehicles.

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Automotive LiDAR Sensors Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist automotive LiDAR sensors market growth during the next five years
  • Estimation of the automotive LiDAR sensors market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive LiDAR sensors market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive LiDAR sensors market vendors

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Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application placement
  • ADAS - Market size and forecast 2019-2024
  • Autonomous vehicle - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers
  • Volume driver - Demand led growth
  • Volume driver - Supply led growth
  • Volume driver - External factors
  • Volume driver - Demand shift in adjacent markets
  • Price driver - Inflation
  • Price driver - Shift from lower to higher-priced units
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption
  • Vendor Analysis

Vendors covered

  • Market positioning of vendors
  • Continental AG
  • Denso Corp.
  • Hella GmbH & Co. KGaA
  • Infineon Technologies AG
  • LeddarTech Inc.
  • Neptec Technologies Corp.
  • Quanergy Systems Inc.
  • Valeo SA
  • Velodyne LiDAR, Inc.
  • ZF Friedrichshafen AG

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201015005672/en/

CONTACT: Technavio Research

Jesse Maida

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Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: OTHER AUTOMOTIVE AFTERMARKET AUTOMOTIVE

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 10/15/2020 03:30 PM/DISC: 10/15/2020 03:30 PM

http://www.businesswire.com/news/home/20201015005672/en

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