Global Automotive LIDAR Sensors Market 2017-2021
About Automotive LIDAR Sensors
Light detection and ranging (LIDAR) sensing is a technology that measures the distance between the source and the target with the help of the laser light. In the automotive market, the main purpose of LIDAR sensors is to automate the detection of obstacles, which will increase the safety of using navigation system. There are two outputs from the LIDAR sensors, which determine the existence of obstacles. They are cost map and point cloud.
Technavio’s analysts forecast the global automotive LIDAR sensors market to grow at a CAGR of 37.38% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive LIDAR sensors market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive LIDAR Sensors Market 2017-2021
Technavio recognizes the following companies as the key players in the global automotive LIDAR sensors market: Continental, LeddarTech, Quanergy Systems, and Velodyne LIDAR.
Other Prominent Vendors in the market are: Bosch, Delphi Automotive, DENSO, First Sensor, HELLA, Ibeo Automotive Systems, Novariant (AgJunction), Phantom Intelligence, PulsedLight (Garmin), Teledyne Optech, Trilumina, Valeo, Innoviz, Facet Technology (Google), Xenomatix, Princeton Lightwave, Neptec Design Group, and TetraVue.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is intelligent transportation. The demand for connectivity in cars is powering a revolution in the automotive industry. Several new technologies are increasingly being integrated into vehicles to suit the current and future demands. The evolution from an infotainment feature to telematics, ADAS, and vehicle-to-vehicle (V2V) or vehicle-to-infrastructure (V2X) is progressing rapidly. In every evolving concept or technology safety remains a top priority.”
According to the report, one driver in the market is rapid progress in autonomous vehicles. Almost all the OEMs and tier-I players are working toward automated driving, and aggressive steps are being taken toward achieving levels 3 and 4 in vehicle automation, which places LIDAR at an advantageous position among the sensor suites for autonomous vehicles. It is a fact that none of these sensors will attain obsolescence during the forecast period, but the move toward levels 3 and 4 will drive the global automotive LIDAR sensors market despite current high costs. Majority LIDAR penetration in premium segment cars will be seen in 2018.
Further, the report states that one challenge in the market is lower volume of production of LIDAR sensors resulting in higher cost. Though the current high-cost model will have a less impact in the long run (or beyond the forecast period), it poses a major challenge at present. Data-based evidence indicates that the cost is likely to drastically drop due to mass production as confirmed by several value chain participants, such as Quanergy Systems, Osram, and Velodyne LIDAR. These vendors have announced plans to reduce the costs of LIDAR. However, current low volumes of LIDAR impact the challenges associated with cost pressures faced by OEMs.
Continental, LeddarTech, Quanergy Systems, and Velodyne LIDAR, Bosch, Delphi Automotive, DENSO, First Sensor, HELLA, Ibeo Automotive Systems, Novariant (AgJunction), Phantom Intelligence, PulsedLight (Garmin), Teledyne Optech, Trilumina, Valeo, Innoviz, Facet Technology (Google), Xenomatix, Princeton Lightwave, Neptec Design Group, and TetraVue.
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