LIDAR Sensors Market To Grow At A CAGR Of 25% By 2018 to 2023. This LIDAR Sensors Market Growth is boosted by factors such as increasing use in the self-driving cars, strengths of LIDAR sensors such as high angular resolution and wide view that is required for proper mid-range detection, LIDAR sensors serve as a perfect connection between close ranges and far range sensor systems. In future, the market has been projected to grow, as major players greatly focus on both, decreasing the cost and increasing the range and resolution of the LIDAR sensors.
This study of 100 pages describes Automotive LIDAR Sensors Market Information Report By Application Type (Semi-Autonomous Vehicles, Autonomous Vehicles), By Image Type (2D Image, 3D Image), By Placement (Headlight & Taillight, Bumpers, Roof, Others), by end market (OEMs, Aftermarket), and By Region with forecast to 2023.
Major Players Analyzed In Study Are: Delphi Automotive (U.K.), Continental AG (Germany), ZF Friedrichshafen (Germany), Infineon Technologies (Germany), Velodyne LiDAR (U.S.), Texas Instruments Incorporated (U.S.), First Sensor AG(Germany), Robert Bosch (Germany), Ibeo Automotive (Germany), Quanergy Systems (U.S.), Valeo S.A. (France), Denso (Japan), PulsedLight (U.S.), Teledyne Optech (Canada), LeddarTech (Canada), Trilumina (U.S.), TetraVue (U.S.), Princeton Lightwave (U.S.), and HELLA GmbH (Germany).
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LIDAR SENSOR or remote sensing uses laser pulses to map the spatial profile of the object under study accurately. The substitution of electromagnetic radiation with Laser for measurement leads to higher accuracy, owing to better reflectance, and coherence. Automotive LIDAR sensors are used to detect objects and hurdles encountering a driverless car.
The Advent of Assisted or Automated Driverless Cars is the Prime Market Opportunity
The foray of major technology companies such as Google in automated driverless cars is a significant market opportunity. The potential application expanse such as driverless trains, military vehicles, sewage cleaning robots and drones, extra-terrestrial planetary exploration is a prime driver of the market.
Technological Advantages of LIDAR Expected to Create a Significant Market Demand
The attractive benefits of LIDAR to scan a wide range of materials, including both metals and non-metals, rocks, rain, and others with high accuracy, coupled with the generation of 3D images and maps has led to an expanse of the market. LIDAR can measure physical features with a very high resolution of 30-centimetre making it a critical technology for precision maneuverability of vehicles. Thus LIDAR has been classified as a strategic technology as exemplified by the U.S. Geological Survey Experimental Advanced Airborne Research LIDAR.
Advances in Sensor Technology are the Prime Market Determinant
Advances in sensor technology, exemplified by the development of solid-state LiDAR sensors is resulting in the higher adoption of the technology owing to its higher precision lower cost, size, and reliability. Solid-state LiDAR sensors involve no mechanical components and thus have an advantage of being less complicated, have no limitations in field-of-view coverage as compared to mechanical scanning LiDARs.
The High Cost of Installation and Maintenance Expected to Hamper the Market Growth
The high cost of installation and maintenance coupled with the high degree of secrecy hinders the development of the market. The nascent stage of technology and the lack of standard infrastructure in developing regions are the most substantial restraint on the market.
For determining the precise path of the market growth, the global LIDAR SENSOR market is segmented by application, application type, component, end-users and region.
- Based on application type, the market has been segmented into semi-autonomous vehicles, and autonomous vehicles.
- Based on image type, the market has been segmented into 2D Image, and 3D Image.
- Based on placement, the market has been segmented into headlight & taillight, bumpers, roof, others.
- Based on end users, the market has been segmented into OEMs, and aftermarket
- Based on region, the market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World.
North America accounts for the most significant share of the market owing to the faster uptake of new technology, development of military robots, the presence of substantial players and others. The European region is expected to be led by Germany, France, and the U.K. However, the market is likely to shift in favor of the Asia Pacific region led by Japan, China, and India. The Middle East and Africa market is expected to be skewed in favor of Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
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