Automotive LIDAR Sensors Market Raises its Valuation Indicating Much Higher During Corona Virus Phase

Pune, India, April 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Automotive LIDAR Sensors Market.

Automotive LIDAR Sensors Insights

Market Research Future forecasts the global automotive LIDAR sensors market to rise at a significant CAGR between 2024 and 2032. At this velocity, the market is reasonable to reach a higher valuation by the end of 2032.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive LIDAR Sensors Market Research Report

Top Impacting Factors

The global automotive LIDAR sensors market is majorly being motivated by the strengths of LIDAR sensors, such as elevated angular resolution and extensive view that is required for proper mid-range detection. The data scanned by the LIDAR is proficient in being recorded by the software tools, which can be used for creating a model of vehicles surrounding. Also, the LIDAR sensors serve as a perfect connection between close ranges and far range sensor systems. All these factors have been influential towards the growth of global automotive LIDAR sensors.

More factors such as enormously high accuracy and ability to produce 3-D representations of the surroundings or target have augmented the adoption of the automotive LiDAR system. On-going development in automated vehicles and self-driving cars acts as a foremost motivator in the development and production of automotive LiDAR sensors market. In the present day, automakers have started integrating Advanced Driver Assistance Systems (ADAS) in their vehicles to envisage the ever-changing environments that stimulate the growth of the Automotive LiDAR sensors market. In fact, government regulation and support, predominantly in developed countries, are boosting the demand for the automotive LiDAR sensors market.

The automotive LiDAR market is also propelled by factors such as rising research activities for the development of autonomous vehicles. In the past five years, autonomous vehicles have emerged as the most disruptive technology. The automotive manufacturers are budding to cope up with the varying market dynamics and collaborating with the tech giants to accomplish the goals of self-driving cars. Some top players such as Uber, Waymo, General Motors, and Apple are engaged in developing their self-driving vehicles. These companies have started testing their self-driving vehicles on the roads and are looking familiar to the mass-production for commercialization of such vehicles by 2020. As LiDAR is the critical enabling factor in the autonomous vehicles, the mass production of autonomous vehicles is augmenting the demand for Automotive LiDAR sensors.

Segmentation of Market: Automotive LiDAR sensors

The global automotive LIDAR sensors market is studied among the segments of application type, image type, placement, and end market.

In terms of the end market segment, the market has included OEM and aftermarket. Amongst them, the OEM segment might lead the global market by end market, back in 2016, in terms of market share. The expansion of OEM has been ascribed to factors of advancement in technology and the launch of new advanced LIDAR sensors.

Regional Outlook

On a regional basis, the global automotive LIDAR sensors market s studied for the key regions of Europe, North America, Asia Pacific, and Rest of the World.

The region of Europe has acquired the largest market share in 2016, followed by Asia Pacific. The European region is a nucleus for a hefty number of automotive manufacturing companies. The automobile companies are adding LIDAR sensors in the advanced driver assistance system, thus motivating the growth of the market in the region.

The North America region is also anticipated to practice growth in the automotive LIDAR sensors market with the augmented emphasis on artificial intelligence-based products. Asia Pacific region is in the same line to develop tremendously in the global automotive LIDAR sensors market owing to the occurrence of countries such as Japan. Such countries are renowned for their technological innovations in developing LIDAR sensor technology and the effective integration of artificial intelligence in electric vehicles.

Top Market Players

The important players in the automotive LIDAR sensors market are listed as Continental AG (Germany), Delphi Automotive (U.K.), Infineon Technologies (Germany), ZF Friedrichshafen (Germany), Texas Instruments Incorporated (U.S.), Velodyne LiDAR (U.S.), Robert Bosch (Germany), First Sensor AG(Germany), Quanergy Systems (U.S.), Ibeo Automotive (Germany), Denso (Japan), Valeo S.A. (France), Teledyne Optech (Canada), PulsedLight (U.S.), Trilumina (U.S.), TetraVue (U.S.), LeddarTech (Canada), and HELLA GmbH  (Germany).