Exploring Automotive LiDAR Market Opportunity, Latest Trends, Demand, and Development By 2030

MarkNtel Advisors recently published a detailed industry analysis of the Automotive LiDAR Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Insights and Analysis of the Automotive LiDAR Market (2024-2030)

The Global Automotive LiDAR Market size was valued at around USD 510 million in 2023 & is estimated to grow at a CAGR of around 18.5% during the forecast period, 2024-30. 

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What is driving the Automotive LiDAR Market?

Increasing Adoption of Autonomous Vehicles – The growth in the Global Automotive LiDAR Market is primarily driven by the increasing adoption of autonomous vehicles and the technological advancement involved in improving their reliability. The automobile companies generally used other technologies such as cameras, radars, ultrasonic, and sensors to achieve the L1 and L2 autonomy of the automobile and even L3. But while using these works fine till L2 autonomy goes further will need much sophistication in the system of autonomous vehicles as these technologies struggle to detect the exact location, shape, and size of the objects in the surroundings. This shortcoming leads to automobiles having difficulty differentiating various objects from pedestrians, to animals to other vehicles present in the surroundings especially if they are slightly away from the vicinity of the automobile.  The usage of LiDAR solves such shortcomings improving the reliability of the autonomous automobile.

LiDAR can create a high-definition mapping of the surrounding environment of the autonomous automobile which greatly surpasses the similar capabilities of the other such technologies. Additionally, LiDAR can work optimally in low light conditions and is capable enough to detect and differentiate objects up to 400 meters. This is filling the gaps previously left in autonomous vehicles and greatly boosts their reliability to operate optimally. As the technology evolves further along with the implementation of regulations to improve road safety and prevent road accidents, the development of such scenarios will fuel the growth and drive the Automotive LiDAR Market Value in the coming years.

What segments define the Automotive LiDAR Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

By Technology

(Mechanical, Solid-state),

By Application

(Autonomous, Semi-Autonomous),

By Range

(Short & Mid-Range [Up to 200 meters], Long Range [Above 201 meters]),

By Image Processing

(2-D, 3-D, 4-D),

By Location

(Bumper and Grill, Headlight and Taillight, Roof and Upper Pillar, Others),

By Vehicle Type

(Passenger Vehicles [Internal Combustion Engine [ICE] Vehicle, Electric Vehicle [EV]], Commercial Vehicles),

By Demand Type

(OEM, Replacement)

By Region

North America, South America, Europe, Middle East and Africa, Asia-Pacific

Explore the Complete Automotive LiDAR Market Analysis Report – https://www.marknteladvisors.com/research-library/global-automotive-lidar-market.html

Who are the leading key players shaping the Automotive LiDAR Market landscape?

Delphi Automotive, PLC, Continental AG, ZF Friedrichshafen AG, Infineon Technologies AG, Velodyne LiDAR, Inc., Texas Instruments, Inc., Leddartech, Inc., First Sensor AG, Quanergy Systems, Inc., Innoviz Technologies, Ltd., Luminar Technologies, Ouster, Inc., Robert Bosch GmbH, Valeo, Benewake (Beijing) Co., Ltd., Others

Questions Addressed in this Study

1.What factors are driving the Automotive LiDAR Market growth?

2.How is the Automotive LiDAR Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Automotive LiDAR Market?

4.What is the current size of the Automotive LiDAR Market, and how is it projected to change in the future?

6.What is the future outlook for the Automotive LiDAR Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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