Popularity of semi-autonomous vehicles 'helping to drive the LiDAR sensor market'

Research published by MarketsandMarkets predicts that the LiDAR sensor automotive market is expected to grow from an estimated US$735 million in 2025 to a projected US$2,557 million by 2030, at a CAGR of 28.32 per cent during the forecast period.
June 9, 2017 Read time: 2 mins

Research published by MarketsandMarkets predicts that the LiDAR sensor automotive market is expected to grow from an estimated US$735 million in 2025 to a projected US$2,557 million by 2030, at a CAGR of 28.32 per cent during the forecast period.

The market, by volume, is expected to reach 31,686.1 thousand units by 2030 owing to the technological advantage of LiDAR over other available sensors in the automotive industry, such as radar and cameras. Factors such as the rising popularity of semi-autonomous vehicles, government regulations for vehicle safety and an increase in the adoption of ADAS technology by OEMs are driving the market.

The semi-autonomous segment is estimated to hold the largest market share of the LiDAR Sensor Automotive Market due to factors such as an increase in the demand for driving safety features, the development of cost effective LiDAR solutions, and increasing government regulations.

The 3D segment market is estimated to be the fastest growing market of the LiDAR sensor automotive market, by image type due to the technological advantages over 2D LiDAR and an expected increased use of autonomous vehicle technology in the automotive industry.
The accuracy and performance of 3D LiDAR in autonomous vehicles are claimed to be superior to conventional solutions such as radar and cameras.

The European market is projected to be the largest for LiDAR sensors as the testing of autonomous vehicles has begun in several countries in the region, such as Germany and France. The investment in research and development in the European automotive industry is the largest worldwide, with about 180 automobile facilities across the region. The European LiDAR sensor automotive market is led by Germany owing to the increased demand for technologically advanced features in the country.

Location Based Systems Classification & Data Collection

Related Content

  • June 17, 2016
    Artificial intelligence systems for autonomous driving on the rise, says IHS
    According to the latest report from market research firm HIS, Automotive Electronics Roadmap Report, as the complexity and penetration of in-vehicle infotainment systems and advanced driver assistance systems (ADAS) increases, there is a growing need for hardware and software solutions that support artificial intelligence, which uses electronics and software to emulate the functions of the human brain. In fact, unit shipments of artificial intelligence (AI) systems used in infotainment and ADAS systems are
    Read More
  • February 24, 2017
    Smart transportation market ‘worth US$285.12 billion by 2024’
    The global smart transportation market is estimated to reach a market size of US$285.12 billion by 2024, according to a new study by Grand View Research. The growing number of on-road vehicles and the ineffective existing transport infrastructure will drive the need for an efficient management system. Favourable government initiatives toward building a better infrastructure and running the transport system smoothly are expected to boost the industry growth. Increasing investments in the smart city produc
    Read More
  • December 4, 2015
    ANPR systems market ‘worth US$1.05 billion by 2020’
    MarketsandMarkets latest report, Automatic Number Plate Recognition System Market by Type (Mobile, Fixed, Portable), Application (Traffic Management, Law Enforcement, Toll Collection, Parking Areas), & Geography - Analysis & Forecast to 2020 claims that the automatic number plate recognition (ANPR) market is estimated to reach US$1.05 billion by 2020, at a CAGR of 13.25 per cent. The market growth is attributed to the adoption of ANPR systems for traffic management and law enforcement applications around
    Read More
  • October 19, 2016
    Adoption of ITS fuelled by need to tackle traffic issues, says research
    The revenue of the global intelligent transportation systems market stood at US$20.22 billion in 2015 and the market is expected to reach US$57.44 billion by the end of the forecast period, developing at a CAGR of 12.7 per cent during the forecast period, according to research by Transparency Research (TMR). According to the report, Intelligent Transportation System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024, on the basis of type, advanced transportation managem
    Read More

Highlighted Content