The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global automotive LiDAR market is set for a remarkable journey, projecting a growth from $0.45 billion in 2022 to $0.61 billion in 2023, with a compelling Compound Annual Growth Rate (CAGR) of 34.1%. Looking further ahead, the market is anticipated to reach an impressive $1.95 billion by 2027, maintaining a robust CAGR of 33.7%.

• Driving Force: Demand for Autonomous Vehicles
  • The escalating demand for semi-autonomous and fully autonomous vehicles stands as a significant catalyst for the automotive LiDAR market.
  • Autonomous vehicles, equipped with LiDAR sensors, rely on 3D mapping and accurate data for self-navigation and object detection.
  • The self-driving vehicle industry is poised to grow by 16% annually, reaching a trillion-dollar valuation by 2025.

Key Players Steering the Industry
In the automotive LiDAR arena, major players are at the forefront, shaping the landscape and contributing to the market’s upward trajectory. Notable entities include Continental AG, Ibeo Automotive Systems GmbH, Innoviz Technologies Ltd., LeddarTech Inc., Luminar Technologies Inc., Ouster Inc., Robert Bosch GmbH, Velodyne Lidar Inc., Denso Corporation, Leica Geosystems AG, Faro Technologies Inc., Mira SolutionsInc., Argo AILLC, ZF Friedrichshafen AG, and Vaisala.

Technological Marvels: A Pivotal Trend in Automotive LiDAR
A key trend gaining prominence in the automotive LiDAR market is technological advancement. Leading companies are committed to integrating cutting-edge technologies, with a particular focus on array transceiver technology, to enhance LiDAR system functionality and bolster autonomous vehicle capabilities.

• Exemplary Technological Integration:
  • In November 2022, RoboSense, a China-based intelligent LiDAR technology company, introduced RS-LiDAR-E1, a flash solid-state LiDAR.
  • Built on independently created chips and a new technological platform, E1 employs area array transceiver technology.
  • With a straightforward bill of materials and no moving components, E1 is designed for factory installation and mass production.
  • The technology aims to bridge the perception gap in smart driving, enhancing the ability of automated and autonomous cars to perceive in diverse scenarios.

Market Dynamics: Segmentation Insights
The automotive LiDAR market unfolds its diverse facets through comprehensive segmentation, offering insights into the varied dimensions of this thriving industry.

1. By Product:
   • Aerial
   • Mobile
   • Terrestrial/Static
   • Short-Range
2. By Technology:
   • Solid-State LiDAR
   • Mechanical/Scanning LiDAR
3. By Vehicle Type:
   • IC Engine Vehicles
   • Hybrid Electric Vehicles (HEVs)
   • Plug-In Hybrid Electric Vehicles (PHEVs)
   • Battery Electric Vehicles (BEVs)
4. By Components:
   • Laser
   • GPS/GNSS Receiver
   • Camera
   • Inertial Navigation System
   • Micro Electro Mechanical System
5. By Application:
   • Semi-Autonomous
   • Autonomous

Regional Frontiers: Asia-Pacific Takes the Lead
As of 2022, Asia-Pacific emerges as the powerhouse in the automotive LiDAR market, boasting the largest share. Projections point towards Asia-Pacific maintaining its dominance, standing as the fastest-growing region in the global automotive LiDAR market share during the forecast period.

View More On The Automotive LiDAR Market Report 2023 – https://www.thebusinessresearchcompany.com/report/automotive-lidar-global-market-report

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The Automotive LiDAR Global Market Report 2023 provides comprehensive insights on the automotive LiDAR market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the automotive LiDAR market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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