Global Automotive LIDAR Sensors Market - Size, Growth, Trends, and Forecast for 2018-2022
About this market
Open platform for mapping: HD maps to gain traction in the market. A universal or harmonized mapping platform is a key requirement for autonomous vehicles. Few industry players such as Volkswagen and General Motors have formed a partnership that entails the usage of Mobileye’s optical sensors. Technavio’s analysts have predicted that the automotive LIDAR sensors market will register a CAGR of about 47% by 2022.
Rapid development in autonomous technology
The self-driving cars may become a reality by the end of the forecast period, it will likely to see a sizeable number of self-driving cars.
High cost of automotive LIDAR sensors
The expensive nature of LIDAR sensors poses as a major threat to the market.
For the detailed list of factors that will drive and challenge the growth of the automotive LIDAR sensors market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Velodyne LiDAR and Valeo the competitive environment is quite intense. Factors such as the rapid development in autonomous technology and the open platform for mapping: HD maps, will provide considerable growth opportunities to automotive LIDAR sensors manufactures. Continental, LeddarTech, Quanergy Systems, Velodyne LiDAR, and Valeo are some of the major companies covered in this report.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook