Automotive LiDAR Market
Automotive LiDAR Market Study by Solid-state and Mechanical/Scanning LiDAR for IC Engine, Hybrid Electric, Plug-in Hybrid Electric, and Battery Electric Vehicles from 2024 to 2034
Analysis of Automotive LiDAR Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Automotive LiDAR Market Outlook (2024 to 2034)
The increasing popularity of autonomous vehicles is contributing to the surging demand for automotive LiDAR technology due to its crucial role in ensuring vehicle safety. The global automotive LiDAR market size is calculated to reach US$ 866 million in 2024 and further advance at a CAGR of 19.5% to end up at a value of US$ 5.14 billion by 2034.
In recent years, a noteworthy increase in the demand for solid-state automotive LiDAR systems has been seen due to their rising use in various advanced ADASs (advanced driver assistant systems) and collision warning systems. Technological advancements are set to revolutionize the world and the use of these advanced technologies in the automotive industry is forecasted to improve vehicle efficiency.
LiDAR sensor technology finds application in automobiles due to its proven incidences of scanning and detecting changes in surroundings effectively. LiDAR sensors are used commonly in advanced ADASs, collision warning systems, warning systems, lane-keep assistance systems, etc.
- East Asia is forecasted to capture 26.4% share of global market revenue by the end of 2034.
- Demand for automotive LiDAR technology in Japan is forecasted to increase at a CAGR of 20.4% from 2024 to 2034.
- Worldwide sales of automotive LiDAR systems for use in semi-autonomous vehicles are projected to rise at 20.3% CAGR and reach US$ 3.79 billion by 2034.
Popularity of autonomous vehicles is generating demand for automotive light detection systems. Further, the implementation of stringent regulations for incorporating safety systems in vehicles by various governments is driving demand for automotive LiDAR technology. Rising demand for device miniaturization is projected to generate requirements for MEMS (micro-electric-mechanical system) LiDAR for several applications. The growing integration of IoT technologies and advanced navigation is also anticipated to generate demand for automotive LiDAR devices over the next ten years.
| Report Attribute | Detail |
|---|---|
| Automotive LiDAR Market Size (2024E) | US$ 866 Million |
| Forecasted Market Value (2034F) | US$ 5.14 Billion |
| Global Market Growth Rate (2024 to 2034) | 19.5% CAGR |
| South Korea Market Growth Rate (2024 to 2034) | 20.5% CAGR |
| North America Market Share (2034F) | 26.4% |
| Market Share of Solid-state LiDAR (2034F) | 76.2% |
| Key Companies Profiled |
|
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Will Increasing Demand for Automobiles Push LiDAR Sensor Sales?
“Steadily Rising Popularity of Premium Vehicles”
Increasing sales of passenger vehicles, particularly in potentially high-growth countries such as Brazil, India, etc., is one of the noticeable economic changes because of their increasing spending capacity. More individuals are inclined to premium passenger cars, which is forecasted to have a positive impact on the demand for automotive LiDAR systems.
Various driver assistance features, including Blind Spot Detection (BSD), Adaptive Cruise Control (ACC), Forward Collision Warning System (FCWS), and Lane Departure Warning (LDW) are provided by premium car manufacturers. This is expected to have a positive impact on the demand for automotive LiDAR for improved safety, etc.
“Rising Utilization of LiDAR Systems in Multiple Autonomous Vehicles”
Autonomous vehicles are projected to witness a hike in demand. In addition, constant advancements taking place in technology are estimated to create possibilities for growing investments by various manufacturers in the development of advanced vehicles. For a complete driverless experience, these vehicles are driven by electronics and sensors.
What is Denting Automotive LiDAR Market Growth to Some Extent?
“High Cost of Automotive LiDAR Systems”
Functional automotive LiDAR systems consist of advanced hardware, sensors, scanners, advanced software, etc. These components are projected to increase the prices of manufacturing and therefore lead to the higher costs of automotive LiDAR systems. Thus, higher prices of light-ranging systems and devices are anticipated to result in their minimized adoption in several applications. It is not possible for all the small vehicle manufacturers to afford the deployment of automotive LiDAR systems. Thus, monetary restraints are forecasted to have an adverse impact on the expansion of the automotive LiDAR market size.
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How are Startups Projected to Achieve Recognition in This Business Space?
“Increasing Investments in R&D Activities for Widespread Use of LiDAR Technology”
Startups are expected to invest more in R&D activities for the use of LiDAR technology. They need to emphasize on production of sensors with some advanced features best suitable for use in completely autonomous vehicles to avoid any chances of mishap.
Country-wise Insights
East Asia is evaluated to account for 33.7% share of the global market, as asserted in the newly updated report by Fact.MR, a market research and competitive intelligence provider. The presence of some prominent automobile manufacturers along with rising requirements for vehicles are contributing to the increasing sales of automotive LiDAR systems.
Why Should Automotive LiDAR Manufacturers Target the United States?
“High Popularity of Autonomous and Electric Vehicles”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 203 Million |
| Growth Rate (2024 to 2034) | 18.6% CAGR |
| Projected Value (2034F) | US$ 1.12 Billion |
The United States is evaluated to account for 82.5% of the North American market share by 2034-end. The surging popularity of autonomous vehicles and electric vehicles is anticipated to generate demand for LiDAR sensors. In addition, the implementation of stringent safety mandates along with the growing deployment of various ADASs (advanced driver assistance systems) is also anticipated to positively influence automotive LiDAR market trends in the United States.
What Makes China a Strong Pillar of the East Asian Market?
“Presence of Huge Automotive Manufacturing Sector”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 154.8 Million |
| Growth Rate (2024 to 2034) | 20.1% CAGR |
| Projected Value (2034F) | US$ 967.1 Million |
China is anticipated to capture 55.8% share of the market in East Asia by the end of 2034. The country is one of the prominent automotive industries, which is ultimately creating prospects for manufacturers of automotive LiDAR there. Growing expenditure in the automotive industry along with supportive government initiatives are forecasted to increase demand for automotive LiDAR systems in China in the coming decade.
Various providers of automotive LiDAR solutions in China are concentrating on collaborations and partnerships for increasing their business scope and generating revenue share.
For instance :
- Innoviz Technologies and LiangDao Intelligence are two prominent names in automotive LiDAR technology. In April 2022, they signed a strategic partnership with an active concentration on introducing high-resolution LiDAR in the market in China.
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Category-wise Insights
Fact.MR, a market research and competitive intelligence provider, through its newly updated study, reveals that demand for solid-state automotive LiDAR is estimated to increase more than mechanical/scanning one. This surging demand is owing to their cost-effective nature and rising popularity.
Why is Demand for Solid-state LiDAR Systems Increasing Faster Than Mechanical/Scanning LiDAR?
“Cost-efficiency of Solid-state LiDAR Systems”
| Attribute | Solid-state LiDAR |
|---|---|
| Segment Value (2024E) | US$ 605.3 Million |
| Growth Rate (2024 to 2034) | 20.5% CAGR |
| Projected Value (2034F) | US$ 3.92 Billion |
Solid-state LiDAR is forecasted to hold 76.2% of the automotive LiDAR market share by the end of 2034. This LiDAR technology is anticipated to emerge as one of the popular choices in various automobile applications because of its cost-efficiency and smaller form factor compared to conventional LiDAR. Therefore, an increased traction for solid-state LiDAR systems is experienced more than other counterparts.
Why are Automotive LiDAR Systems Deployed More in Semi-autonomous Vehicles?
“Growing Use of Automotive LiDAR Systems for Safe Operation of Semi-autonomous Vehicles”
| Attribute | Semi-autonomous |
|---|---|
| Segment Value (2024E) | US$ 598.7 Million |
| Growth Rate (2024 to 2034) | 20.3% CAGR |
| Projected Value (2034F) | US$ 3.79 Billion |
Semi-autonomous vehicles are evaluated to hold 73.7% share of the global market by 2034. Multiple semi-autonomous features are included in various modern vehicles, such as lane change assist, pedestrian warning systems, assisted parking, and active brake assist. Automotive LiDAR technology is anticipated to be one of the key technologies for making semi-autonomous vehicles a reality and ensuring their safe operation.
Competitive Landscape
The majority of manufacturers of automotive LiDAR are concentrating on active involvement in partnerships and agreements to increase market scope globally and maximize profits. Offering quality products, management of supply chain systems, and new product development are some popular strategies adopted by market players to get a competitive edge.
For instance :
- Velodyne LiDAR is a popular name in LiDAR technology. In March 2020, the company entered into an agreement with NAVYA, which is a prominent provider of autonomous driving systems.
Key players in the automotive LiDAR market are Quanergy Systems Inc., Delphi Automotive PLC, Innoviz Technologies Ltd., NXP Semiconductors, DENSO Corporation, TetraVue, Ibeo Automotive Systems GmbH, XenomatiX N.V., First Sensor AG, Luminar Technologies Inc., HELLA GmbH & Co. KGaA, LeddarTech Inc., Valeo SA, Continental AG, Velodyne LIDAR Inc., and Robert Bosch GmbH.
Segmentation of Automotive LiDAR Market Research
-
By Technology :
- Solid-state LiDAR
- Mechanical/Scanning LiDAR
-
By Location :
- Roofs & Upper Pillars
- Headlights & Taillights
- Bumpers & Grills
-
By Image Projection :
- 2D Automotive LiDAR
- 3D Automotive LiDAR
-
By Range Type :
- Short & Mid-range
- Long Range
-
By Vehicle Type :
- IC Engine Vehicles
- Hybrid Electric Vehicles (HEVs)
- Plug-in Hybrid Electric Vehicles (PHEVs)
- Battery Electric Vehicles (BEVs)
-
By Application :
- Semi-autonomous
- Autonomous
-
By Region :
- North America
- Western Europe
- Eastern Europe
- East Asia
- Latin America
- Middle East & Africa
- South Asia & Pacific
- FAQs -
How big is the automotive LiDAR market in 2024?
The global automotive LiDAR market has been valued at US$ 866 million in 2024.
What is the demand projection for automotive LiDAR technology for 2034?
Worldwide demand for automotive LiDAR sensors is projected to reach a market valuation of US$ 5.14 billion by 2034.
At what CAGR are the sales of automotive LiDAR systems projected to rise?
The global market is forecasted to advance at a CAGR of 19.5% from 2024 to 2034.
How much share of the global market is East Asia approximated to hold?
East Asia is projected to hold 33.7% share of global market revenue by 2034.
What is the anticipated growth rate of the market in Japan?
The market in Japan is calculated to increase at a CAGR of 20.4% from 2024 to 2034.
What is the contribution of solid-state automotive LiDAR to global market revenue?
Solid-state automotive LiDAR systems are evaluated to account for 76.2% share of global market revenue by 2034.
Is LiDAR used in cars today?
LiDAR tracks vehicles and obstacles to maintain a safe distance and helps in identifying road signs, traffic signals, etc., but it has yet to go mainstream for its high prices.
Automotive LiDAR Market