Global Automotive LiDAR Market Insights Forecasts to 2033

• The Global Automotive LiDAR Market Size was Valued at USD 0.56 Billion in 2023.
• The Market Size is Growing at a CAGR of 40.45% from 2023 to 2033.
• The Worldwide Automotive LiDAR Market Size is Expected to Reach USD 16.96 Billion by 2033.
• North America is expected to grow the fastest during the forecast period.

The Global Automotive LiDAR Market Size is Anticipated to Exceed USD 16.96 Billion by 2033, Growing at a CAGR of 40.45% from 2023 to 2033.

Market Overview

Automotive light detection and ranging (LiDAR) is a sensing technology that identifies and maps the distances between objects. The method works by lighting a target with an optical pulse and then detecting the properties of the reflected signal. The width of an optical pulse can vary between a few nanoseconds and many microseconds. Light Detection and Ranging (LIDAR) sensors are used to avert collisions and for emergency braking. These systems produce several laser pulses per second, which are reflected after interacting with the surrounding objects. As a result, the sensors can construct a three-dimensional (3D) depiction of the upcoming path using calculations based on light speed and pulse distance. Consequently, it is progressively developing as a critical component. For instance, in January 2022, Innoviz Technologies Ltd. added its next-generation sensor, "Innoviz360," to its product line. Innoviz360 is intended to produce income beginning in 2023. Increased sales of high-end vehicles, as well as increased ADAS technology penetration in vehicles, will drive up demand for automotive LiDAR. Increased development of autonomous vehicles, combined with increased sales of electric vehicles equipped with LiDAR technology, will open up new potential for this sector. Companies in the automotive LiDAR industry are focusing on developing new products.

Report Coverage

This research report categorizes the market for the global automotive LiDAR market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global automotive LiDAR   market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global automotive LiDAR market.

Driving Factors

Advancements in gallium-based LiDAR have reduced sensor costs in recent years, prompting more manufacturers to embrace the technology. Furthermore, Quanergy, a California startup, created the world's first optical phased array (OPA) 3D lidar for the automotive industry. Additionally, LeddarTech has introduced the LeddarTM Pixell 3D flash lidar module, which is designed for proximity detection and blind spot covering in urban situations. As a result, technical advancements in automotive LiDAR are likely to have a beneficial impact on the market's growth over the forecast period. In addition, consumers and manufacturers together are putting increasing pressure on automakers to equip vehicles with greater perception skills to increase safety and convenience. LiDAR is intriguing for automotive applications because of its ability to provide high-resolution images in a range of environments.

Restraining Factors

The current cost of an automobile LiDAR system is considerable, which is expected to limit industry growth.

Market Segmentation

The global automotive LiDAR market share is classified into type, image type, and application.

• The solid-state segment is expected to hold the largest share of the global automotive LiDAR market during the forecast period.   

Based on the type, the global automotive LiDAR market is categorized into mechanical and solid-state. Among these, the solid-state segment is expected to hold the largest share of the global automotive LiDAR market during the forecast period. Solid-state automotive LiDAR systems obtain accurate measurements without relying on the movement of nearby objects. This non-mechanical character makes them more durable, less prone to wear and tear, and enables a broader range of uses. These characteristics have established solid-state LiDAR as an appealing option for the automotive sector, particularly in the creation of self-driving vehicles where dependability, precision, and long-term performance are critical. Solid-state LiDAR technology is gaining acceptance and adoption in the automobile industry because of its low cost and improved performance.

• The 3D image segment is expected to grow at the fastest CAGR during the forecast period.

Based on the image type, the global automotive LiDAR market is categorized into 2D images and 3D images. Among these, the 3D image segment is expected to grow at the fastest CAGR during the forecast period. 3D images have expanded their applications in industries such as automotive, consumer electronics, and healthcare, as well as the increasing use of image sensors in autos. Furthermore, the 3D data from LiDAR produces highly precise, accurate spatial measurements and operates in a variety of locations and contexts, including at night and in direct sunlight.

• The autonomous vehicle segment is expected to hold a significant share of the global automotive LiDAR market during the forecast period.

Based on the application, the global automotive LiDAR market is categorized into semi-autonomous vehicles and autonomous vehicles. Among these, the autonomous vehicle segment is expected to hold a significant share of the global automotive LiDAR market during the forecast period. due to the growing preference for self-driving vehicles. Key OEMs, technology suppliers, and self-driving car service providers are investing in the development of level 4 self-driving vehicles. For example, in October 2020, Daimler (Germany) collaborated with Waymo (US) to produce SAE and BMW to develop level 4 trucks and vehicles, respectively. According to primary inputs, a fully driverless vehicle would require around five LiDAR solid-state sensors to perform properly at level 5. The three aforementioned factors are expected to boost revenue for the autonomous segment of the automotive LiDAR market throughout the forecast period.

Regional Segment Analysis of the Global Automotive LiDAR   Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is projected to hold the largest share of the global automotive LiDAR market over the forecast period.

Asia Pacific is projected to hold the largest share of the global automotive LiDAR market over the forecast period. This region includes both developing countries like South Korea and Japan as well as emergent ones like India and China. China stands out significantly. China has seen an increase in investment in autonomous driving technology, and the government has announced ambitious ambitions for self-driving vehicle development and implementation. The sheer scale of China's automotive market, along with the government's drive for innovation, places the country as a significant growth region for the automotive LiDAR market.

North America is expected to grow at the fastest CAGR of the global automotive LiDAR market during the forecast period. The presence of key players, significant investments in autonomous vehicle development, and a favorable regulatory environment are all factors contributing to the region's dominance. The United States government's backing for autonomous vehicle testing and deployment has increased demand for LiDAR technology. North America's dominant market position is due to tight government laws requiring the installation of particular automotive safety technology in vehicles, as well as improvements in LiDAR technologies, which are expanding their applications in core 3D imaging and ranging.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global automotive LiDAR market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• LeddarTech Inc
• XenomatiX N.V
• Velodyne Lidar Inc
• SICK AG
• Quanergy Systems Inc
• Ouster, Inc
• OMRON Corporation
• Luminar Technologies Inc
• Innoviz Technologies Ltd
• Hesai Technology
• Continental AG
• Cepton Technologies Inc
• Beijing SureStar Technology Co., Ltd
• AEye Inc
• Argo AI LL
• Aurora Innovation
• Others

Key Market Developments

• On February 2024, Chenghe Acquisition Co., a special purpose acquisition company, announced that its previously announced business combination with Taiwan Color Optics, Inc., a Taiwan-based provider of LiDAR and ADB components and solutions, and their newly formed holding company, Semilux International Ltd., a Cayman Islands exempted company with limited liability, has been completed.

• In November 2023, AEye, Inc., a global leader in adaptive, high-performance lidar technologies, has unveiled 4Sight Flex, an ultra-compact and high-performance reference design for automobiles. 4Sight Flex provides exceptional capability in a tiny, energy-efficient, low-cost form factor, paving the way for the next wave of L2+, L3, and L4 autonomy and safety capabilities that can be installed in the cabin.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global automotive LiDAR market based on the below-mentioned segments: 

Global Automotive LiDAR Market, By Type

• Mechanical
• Solid-State

Global Automotive LiDAR Market, By Image Type

• 2D Image
• 3D Image

Global Automotive LiDAR Market, By Application

• Semi-Autonomous Vehicles
• Autonomous Vehicles

Global Automotive LiDAR   Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa