The global automotive LiDAR market size is expected to reach USD 942.1 million by 2030, registering a CAGR of 8.1% from 2023 to 2030, according to a new report by Grand View Research, Inc. The surging acceptance of automobile safety application arenas and sophisticated technology incorporations in automobile driving automation are expected to boost the market growth. The increasing acceptance for semi-autonomous and autonomous cars in the years to come is further anticipated to bolster the market growth.
The market can be categorized, based on application types, into Advanced Driver Assistance Systems (ADAS) & autonomous cars. The ADAS application segment is further segregated into Automatic Emergency Braking (AEB) and Adaptive Cruise Control (ACC). The ADAS application segment is expected witness a significant growth, owing to the surging incorporation of forward-collision avoidance systems.Adaptive cruise control (ACC) is adiscretionary cruising choice for automobiles that robotically modifies the vehicle speed to retain a safe distance from vehicles ahead.The rising adoption of these systems in autonomous and semi-autonomous cars at various levels of automation is expected to draw huge ventures from the key participants, thus driving the regional market demand in the years to come.
In October 2016, Infineon Technologies AG (Germany) acquired Innoluce BV (The Netherlands), a fabless semiconductor company headquartered in Nijmegen. Infineon says it would develop chip components for high-performance LiDAR systems by utilizing Innoluce’s patented technology. This acquisition is expected to establish Infineon’s strong foothold as one of the automotive safety technologies vendors.
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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 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.
North America dominated the market and accounted for the largest revenue share of 35.7% in 2022.
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.
Grand View Research has segmented the global automotive LiDAR market on the basis of application and region:
Application Outlook (Revenue, USD Million, 2017 - 2030)
Automatic Emergency Braking (AEB)
Adaptive Cruise Control (ACC)
Regional Outlook (Revenue, USD Million, 2017 - 2030)
Middle East and Africa
List of Key Players of Automotive LiDAR Market
Quanergy Solutions, Inc.
Robert Bosch GmbH
ValeoVelodyne LiDAR, Inc.
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