Automotive LiDAR Market

Market Leader - Automotive LiDAR Market

The automotive LiDAR market is projected to grow from USD 555 million in 2022 to USD 8,611 million by 2030, at a CAGR of 40.9%. Parameters such as increasing demand for fully autonomous driving, paired with a significantly growing demand for safety and driving comfort features will boost the demand for the automotive LiDAR.

The growth of the market is influenced by the rising trend of semi-autonomous vehicles. Increasing penetration of electric vehicles in conjunction with rising trends pertaining to the sensor fusion technology are anticipated to create new opportunities for automotive LiDAR market. The automotive LiDAR market is dominated by key players including Valeo (France), DENSO Corporation (Japan), Innoviz Technologies Ltd. (Israel), Velodyne Lidar, Inc. (US), and Luminar Technologies Inc. (US). These companies develop new products, adopt expansion strategies, and establish collaborations, partnerships, and mergers & acquisitions to gain traction in the automotive LiDAR market.

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Valeo manufactures automotive LiDAR sensors, climate control devices, transmissions, engine cooling devices, lighting systems, electrical systems, wiper systems, motors and actuators, security systems, switches and detection systems, and electronics and connective systems. The company has grouped these components into five main business segments: Comfort and Driving Assistance Systems, Powertrain Systems, Thermal Systems, Visibility Systems, and Others. Lidar sensors are offered through the Comfort and Driving Assistance Systems segment, which accounted for approximately 20% of the company’s business revenue in 2021. The company has a significant presence in Europe, followed by Asia and North America.

DENSO Corporation is one of the top suppliers of automotive technologies to OEMs across the globe. It has a presence in North America, South America, Europe, Asia Oceania, and Africa, with approximately 167,950 employees as of March 31, 2022. It also has about 6,450 suppliers across the globe. The company operates through seven business segments: Thermal Systems, Powertrain Systems, Electrification Systems, Mobility Systems, Sensor Systems & Semiconductors, Non-Automotive Businesses, and Others. The company offers various automotive LiDAR sensors through its Mobility Systems division. The Mobility Systems segment accounted for approximately 22% share of its overall sales revenue in 2020. DENSO Corporation is known as an innovation leader in the automotive industry value chain and has R&D centers in Japan and the US. In 2020, it invested approximately USD 4.6 billion in R&D.

Innoviz Technologies Ltd. is one of the global players in LiDAR technology. The company offers solid-state LiDAR sensors as well as perception software for automotive, robotics, drone, mapping, and other industries. The company’s product mix includes InnovizOne, InnovizTwo, Innoviz360, and Innoviz’s perception software. Innoviz Technologies Ltd. has a strong market presence across the globe, including in Germany, China, the US, and Japan. It invested approximately USD 93.3 million in R&D in 2021. The company is backed by strategic partners as well as investors, including Aptiv, Samsung, Magna International, SoftBank Ventures Asia, Vertex Ventures, 360 Capital Partners, Glory Ventures, China Merchants Capital, and Naver, among others.

Velodyne Lidar, Inc. is one of the global leaders in LiDAR technology and provides a real-time 3D vision for autonomous systems. The company’s LiDAR-based smart vision solutions are also deployed in many automotive as well as non-automotive applications, including autonomous vehicles, autonomous mobile robots, UAVs/drones, last-mile delivery, precision agriculture, advanced security systems, and smart city initiatives. The company specializes in offering LiDAR solutions for autonomous vehicles, driver assistance, delivery solutions, and robotics, among others.

Luminar Technologies, Inc. develops vision-based LiDAR and machine perception technologies primarily for self-driving cars. The company specializes in LiDAR sensor suites, vehicle navigation, autonomous vehicles, and control technologies. It delivers LiDAR sensors for autonomous vehicles. The company has built advanced hardware as well as platforms to cater to the need of its more than 50 business partners, including the majority of worldwide automotive manufacturers. Its automotive LiDAR technology is already used by several companies such as Volvo, SAIC, and Toyota in their respective models. The company generated total revenue of USD 31.9 million as of 31st December 2021.

Related Reports:

Automotive LiDAR Market by Technology (Solid-state LiDAR, & Mechanical LiDAR), Image Type (2D & 3D), Measurement Process (ToF, FMCW), Location, EV Type, ICE Vehicle Type, Maximum Range, Laser Wavelength, Autonomy and Region - Global Forecast to 2030

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Automotive LiDAR Market Size,  Share & Growth Report
Report Code
AT 5330
RI Published ON
11/22/2022
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