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Automotive 3D Light Detection and Ranging (LiDAR) Market Size Analysis, By Type (Mechanical/Scanning Lidar, Solid-State Lidar), By Application (Traffic Sign Recognition (TSR), Lane Departure Warning (LDW), Road Vulnerability Detection, Surround View, Advanced Driver-Assistance System (ADAS), Occupancy Detection) and Regional Forecast, 2022–2028

Format: PDF | Pages: 330 | Report ID: MRS1003


Report Description

The global automotive 3D Light Detection and Ranging (LiDAR) market size is estimated at USD 750.3 million in 2021, expanding at a CAGR 12.8% from 2022-2028 to reach 1,860.6 million USD in 2028.

Market Dynamics

LiDAR is a remote sensing technology that emits intense, focused beams of light and measures the time it takes for the reflections to be detected by the sensor.

The growing demand for 3D imagery in various applications, such as military and defense, topographical surveys, and civil engineering, is anticipated to fuel the market growth to a great extent. Textured 3D imagery is used in various applications like 3D mapping, city planning, and corridor mapping. The installation base of advanced safety features is increasing exponentially. The countries like U.S, Self-driving cars are approved by the government, which are integrated with LiDAR for GPS and Navigation. 

In addition, rising investment for LiDAR start-ups by leading Automotives companies will boost the growth of the automotive LiDAR market during the forecast period. The adoption of LiDAR technologies in the automobile industry with use in various applications, such as self-driving taxis shuttle services, etc. For instance, In July 2019, Argo AI entered into a JV with Ford and Volkswagen to provide self-driving taxis and ride-sharing services, which are expected to be launched by 2021. Therefore this, in turn, raises the growth of the LiDAR market to a significant level.

Based on type, the solid-state LiDAR segment anticipated growing at the highest CAGR over the forecast period. This is attributed to the wide uses in the commercial sector and flexibility to use.

Based on application, Advance Driver-Assistance System (ADAS) is expected to grow at a significant rate during the forecast period owing to the adoption of LiDAR technology in the automobile sector for various applications such as self-driving cars and shuttle services, etc. Therefore this will raise the demand for the LiDAR market.

Regionally, North America anticipated registering the highest market share during the forecast period. This is attributed to the increasing number of emerging start-ups as well as the rising adoption of 3D and 4D technologies. On the other hand, a rising initiative by government bodies is one of the most important factors for the growth of automotive 3D LiDAR technologies in the region.

On the other hand, the Asia Pacific region is expected to grow at the fastest CAGR. Regional growth is attributed to the rising demand for LiDAR systems in the manufacturing and IT and telecommunication industries. Moreover, the prominent players in this region perform mergers and acquisitions to develop innovative products. Therefore, this is, in turn, to fuel the growth of the automotive 3D LiDAR market to a great extent.

The merger & acquisitions as well as product launches are considered as the key strategies adopted by the players to gain maximum market share. Some of the prominent players are Velodyne, Hesai Tech, Leddartech, ibeo, Phantom Intelligence, Quanergy Systems, Luminar, and Trilumina. Recently, In April 2020, Velodyne Lidar, Inc. collaborated with EasyMile, a French driverless technology, and smart vehicle solutions provider. Through this collaboration, EasyMile has implemented Velodyne’s LiDAR sensors for the production of EZ10 autonomous passenger shuttles, which will be deployed in more than 30 countries across the globe.

The report begins with an overview of the Industry Chain structure and describes the industry environment, and then analysis market size and forecast of the automotive 3D Light Detection and Ranging (LiDAR) by type, application, and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products, etc.):

  • Velodyne
  • Hesai Tech
  • Leddartech
  • ibeo
  • Phantom Intelligence
  • Quanergy Systems
  • Luminar
  • Trilumina
  • Faro Technologies Inc.
  • Leica Geosystems Holdings AG
  • Trimble Navigation Limited
  • RIEGL USA Inc.

Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Mechanical/Scanning Lidar
  • Solid-State Lidar

Application Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Traffic Sign Recognition (TSR)
  • Lane Departure Warning (LDW)
  • Road Vulnerability Detection
  • Surround View
  • Advanced Driver-Assistance System (ADAS)
  • Occupancy Detection

Region Coverage (Regional Consumption, Demand & Forecast by Countries, etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain, etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina, etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa, etc.)

Frequently Asked Questions

The global automotive 3D Light Detection and Ranging (LiDAR) market size is estimated at USD 750.3 million in 2021, expanding at a CAGR 12.8% from 2022-2028 to reach 1,860.6 million USD in 2028.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global industry is growing at a promising rate over the study period.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
The historic period considered was 2022–2028, the base year was 2021, and the forecasted period was 2022–2030 for the study.
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