GVR Report cover Automotive LiDAR Market Size, Share & Trends Report

Automotive LiDAR Market Size, Share & Trends Analysis Report By Application (ADAS, Autonomous Cars), By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-218-1
  • Number of Pages: 83
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2021
  • Industry: Technology

Automotive LiDAR Market Size & Trends

The global automotive LiDAR market size was valued at USD 447.0 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.1% from 2023 to 2030 owing to rising demand for advanced driver assistance systems (ADAS) and autonomous vehicles, increasing emphasis on safety regulations and the need to reduce road accidents. Furthermore, the rising adoption of safety systems in autonomous and semi-autonomous cars at various levels of automation is expected to draw huge investment from key participants, thus driving regional industry demand during the forecast period.

U.S. Automotive LiDAR market size and growth rate, 2023 - 2030

The rising adoption of safety systems in autonomous and semi-autonomous cars at various levels of automation is expected to draw huge investment from key participants, thus driving regional industry demand in the years to come. Owing to the abovementioned advantages, the market exhibits high potential in the Asia Pacific countries.

Vertical integration provides numerous advantages, including low costs due to access to competitive international labor markets, reduced manufacturing and delivery times, and direct sourcing of raw materials. It adds significant value to the supply chain operations by providing vertically integrated services such as customization and component design.

The stringent regulatory scenario in selected geographies has accredited the inclusion of safety sensors in a vehicle, further estimated to drive growth in the automobile market. Collision avoidance systems are composed of software and hardware interfaces. While the cost of hardware, such as cameras and radar, is expected to decline, the need for cost-efficient software may offer an alternative source of revenue for service providers. The industry is anticipated to witness strident growth over the next eight years owing to the surge in efforts toward the development of fully autonomous cars.

The installation base of advanced safety features is increasing exponentially. Accident data recorder systems, alcohol ignition interlocks, and emergency call systems are examples of technologies whose future demand is expected to spur market growth. Safety legislation is driving many safety features. The European Union will mandate several applications within the next few years. Low-speed collision avoidance and driver assistance systems are anticipated to be among the most popular technologies. The integration of map-enabled systems also provides diverse application options leading to advantages, such as lane departure systems, driver assistance systems, and intelligent front lighting systems enabled by the united adaptive front lighting.

Safety technologies include LiDAR sensors, data transmission, collision warnings, speed alerts, and map-supported adaptive front lighting. The safety technologies, such as occupant protection, are estimated to grow rapidly over the forecast period. Automotive manufacturers have been focusing on passenger safety by adopting high-volume mainstream implementations. It has led to modifications in the legal framework to regulate a balance between governmental safety concerns and the unobstructed development of ADAS. The advent of autonomous technology in vehicles is expected to reduce road accidents and lead to better road space management to reduce congestion.

The U.S. National Highway Traffic Safety Administration (NHTSA) attempts to control driver support technologies and the direction of automotive collision avoidance. The government is expected to mandate the fitment of the V2V safety technology in future cars. In addition, the U.S. Association of Automobile Manufacturers is expected to leverage rear-view cameras and eliminate side-view mirrors, which can reduce noise and fuel consumption. The New Car Assessment Programme (NCAP) in Europe and Asia Pacific regions has been mandating the AEB and lane departure warning systems for the large-scale adoption of active safety systems. Euro NCAP awards the new and active safety systems within its advanced program to encourage OEMs to extend the development of safety systems.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 35.7% in 2022. The growing adoption of administrative regulations mandating the installation of automotive safety technologies in both light-duty and heavy-duty vehicles in the region is anticipated to increase automotive LiDAR sales. The key industry trends include incorporating LiDAR sensors in dynamic remote sensing applications and collision avoidance technologies. The automotive sector contributed a major proportion of ADAS application-based LiDAR system sales in the North American and European regions.

Global Automotive LiDAR market share and size, 2022

The component manufacturers are connected to the data gatherers that provide LiDAR services such as data collection and processing. The key manufacturers, such as Velodyne Lidar, Inc. (U.S.), Quanergy Solutions, Inc. (U.S.), and Phoenix LiDAR Systems (U.S.), provide various data collection solutions. In addition, some of the players in this segment also offer equipment deployment services and professional training in LiDAR data acquisition. The data is transferred to the data processors that provide solutions, including integrating data collected by different sensors and data reselling.

Asia Pacific is expected to grow at the fastest CAGR of 10.8% over the forecast period. Advancements in LiDAR technology, such as the development of solid-state LiDAR and the miniaturization of sensors, are driving market growth in the region. Solid-state LiDAR offers compact size, improved durability, and lower costs than traditional mechanical scanning LiDAR systems. These advancements are making LiDAR technology more accessible to a wider range of vehicles, including entry-level and mid-range cars, accelerating its adoption in the Asia Pacific automotive market.

Europe is expected to grow significantly over the forecast period. Europe is a high-growth market with large-scale OEMs such as The Volvo Group, Daimler, PSA Peugeot Citroen, and Volkswagen. The Netherlands and Sweden are amongst the few countries where OEMs may deploy these cars, owing to better management in the small-scale deployment. Furthermore, regulations on vehicle emissions in European countries and growing energy prices may instigate consumers in Germany and the UK to install advanced safety features in their automobiles alongside a switch to fully autonomous vehicles. It is expected to spur the sales of LiDAR systems in the region.

Application Insights

Based on the application, the global automotive LiDAR market is segmented into ADAS and autonomous cars. The ADAS segment is further sub-segmented into automatic emergency braking (AEB) and adaptive cruise control (ACC). The ADAS segment captured the largest revenue share of over 69.5% in 2022. ADAS features provide short- and long-range radars for car parking and active cruise controls. LiDAR helps in the 3D mapping of surroundings and utilizes dead reckoning sensors for odometry operations. The ultrasound feature helps in parking, pedestrian, and other obstacle detection. A Complementary Metal-Oxide-Semiconductor (CMOS) image sensor can detect blind spots and offer a side view to recognize a traffic sign.

Furthermore, the ADAS application segment is expected to gain prominence due to the surging incorporation of these sensors in numerous automotive safety applications, such as automated emergency braking (AEB) systems, particularly in the European and North American regions.

The autonomous cars segment is estimated to register the fastest CAGR of 9.8% over the forecast period. This growth is attributed to increasing demand for advanced driver assistance systems (ADAS) and self-driving vehicles. With the advancements in sensor technologies, LiDAR systems play a crucial role in providing accurate and real-time data for autonomous vehicles, enabling them to navigate safely and efficiently.

Key Companies & Market Share Insights

The market is highly competitive, and the players are undertaking strategies such as forecast launches, acquisitions, and collaborations to increase their global reach. For instance, in March 2023, RoboSense launched the RS-Fusion-P6 (P6), the industry's first automotive-grade solid-state LiDAR perception system for Level 4 autonomous driving. P6 integrates advanced hardware with software assistance from RoboSense to provide an accurate and smart sense of environment features. The P6 enables autonomous cars to navigate complex driving circumstances comfortably, minimizing costs, enhancing efficiency, and accelerating the deployment of large-scale autonomous vehicle business operations. The P6 offers a dependable and high-performing perception solution that can expedite the integration of autonomous driving technology in response to the fast-paced evolution of the automotive industry.

Key Automotive LiDAR Companies:

  • Continental AG
  • Denso Corporation
  • LeddarTech Inc.
  • KUBOTA Corporation
  • Quanergy Solutions, Inc.
  • Robert Bosch GmbH
  • Teledyne Geospatial
  • ValeoVelodyne LiDAR, Inc.

Recent Developments

  • In April 2023, Cepton, Inc. launched Komodo, its exclusive ASIC (Application-Specific Integrated Circuit) chip for lidar point cloud processing. Komodo is a highly integrated custom SoC (System on Chip) designed to optimize the company's patented lidar architecture, enhancing the quality of point cloud data while reducing costs by replacing multiple off-the-shelf silicon devices. To facilitate the widespread adoption of lidar technology in future vehicles, Cepton, Inc. leverages dedicated ASICs as their lidar products move towards extensive deployment, enabling them to achieve the necessary price points desired by automotive OEMs for mass-market implementation.

  • In January 2022, Luminar Technologies, Inc. partnered with Mercedes-Benz Group AG. With this partnership, Mercedes plans to integrate Luminar's Iris LiDAR into its upcoming vehicles based on the next-generation platform. This integration aims to enhance safety features and enable autonomous highway driving capabilities. As part of the partnership, Mercedes-Benz has also acquired 1.5 million shares of Luminar. This alliance with Mercedes-Benz follows Luminar's previous supply agreements with notable companies such as Volvo Cars, China's SAIC, and Daimler Trucks, all of whom recognize LiDAR as a critical technology for developing autonomous vehicles.

  • In August 2022, Volkswagen Group partnered with Innoviz Technologies Ltd. With this partnership, Innoviz Technologies will supply its LiDAR technology and software to Volkswagen Group's autonomous vehicle unit, CARIAD, with its production beginning in 2025. Over eight years, Innoviz anticipates providing 5 to 8 million LiDAR units to various brands within the Volkswagen Group. This strategic alliance aims to bolster Volkswagen's autonomous driving capabilities and further solidify Innoviz Technologies' position as a key player in the market.

  • In November 2022, RoboSense launched its latest solid-state LiDAR, the RS-LiDAR-E1 (E1). The E1 is a cutting-edge flash LiDAR equipped with in-house, custom-developed chips, and a flash technology platform, providing a 360° field of view. This innovative product platform incorporates area array transceiver technology with specifically designed chips at its core. The E1 plays a vital role in enabling the fundamental functions of autonomous driving. It assists partners in bridging the gap in smart driving perception, further enhancing the all-encompassing perception capabilities of automated and autonomous vehicles.

  • In June 2023, Innoviz Technologies Ltd partnered with LOXO to deploy InnovizOne LiDAR units on LOXO delivery vehicles until 2024. LOXO will utilize Innoviz's automotive-grade LiDAR in zero-emission autonomous delivery vehicles. By integrating InnovizOne into LOXO vehicles, retailers can benefit from enhanced capabilities for streamlined and eco-friendly goods transportation. This collaboration aims to address the increasing demand in the autonomous last-mile delivery market, which is expected to grow to USD 5.9 billion by 2030.

  • In October 2022, Velodyne LiDAR, Inc. acquired Bluecity. This acquisition further strengthens Velodyne LiDAR, Inc.'s commitment to empowering its customers with cutting-edge, AI-driven autonomous vision solutions. The addition of Bluecity is not expected to significantly impact operating expenses or cash usage. Velodyne's Intelligent Infrastructure Solution (IIS) combines Velodyne lidar sensors and Bluecity's AI software. IIS offers traffic monitoring and analytics capabilities to enhance road safety and efficiency while assisting cities in planning smarter and more sustainable transportation systems. This solution has been successfully deployed across four continents, with 74 installations worldwide.

Automotive LiDAR Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 504.2 million

Revenue forecast in 2030

USD 942.1 million

Growth rate

CAGR of 8.1% from 2023 to 2030

Base year for estimation

2022

Historical data

2017 - 2021

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million and CAGR from 2023 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; UK; Germany; France; China; Japan; India; Australia; South Korea; Brazil; Mexico; Saudi Arabia; South Africa; UAE

Key companies profiled

Continental AG; Denso Corporation; LeddarTech Inc.; KUBOTA Corporation; Quanergy Solutions, Inc.; Robert Bosch GmbH; Teledyne Geospatial; Valeo; Velodyne LiDAR, Inc.

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

 

Global Automotive LiDAR Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global automotive LiDAR market on the basis of application and region:

Global Automotive LiDAR Market Report Segmentation

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • ADAS

      • Automatic Emergency Braking (AEB)

      • Adaptive Cruise Control (ACC)

    • Autonomous Cars

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

      • South Korea

    • Latin America

      • Brazil

      • Mexico

    • Middle East and Africa

      • Saudi Arabia

      • South Africa

      • UAE

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