Automotive LiDAR system has witnessed a surge in demand due to a rapid growth in the number of on-road vehicles as well as in the demand of autonomous vehicles. The automotive industry is constantly evolving and market players are on the lookout for opportunities in product development. At present, mechanical LiDARs are dominating the market, although, these have some associated disadvantages such as bulkiness, fragility and high cost. They also pose a challenge to the vehicle designer in the process of integration of the technology in the vehicles. Hence, these disadvantages provide an edge to slid-state LiDARs, which are expected to dominate the market in the future.
The market players are utilizing the evolving phase of the LiDAR market to make a mark in the industry. Companies are competing neck and neck to develop better and low cost LiDAR system. One of the leading companies of the global automotive LiDAR market, Continental AG, announced in Januay 2017, that it will produce solid-state LiDAR for automakers in 2019 and 2020, though, the company is yet to announce the name of the automaker. Automakers are counting on LiDAR to supplement radar and cameras in self-driving vehicles - part of a belt-and-suspenders strategy, to ensure safety even if one sensor fails.1
Many companies are taking steps towards partnerships and collaboration to delve into new innovations and solutions for the automotive LiDAR market. One of the leading companies in the market, Leddar Tech, entered into a partnership agreement with Integrated Device Technology in February 2017, to jointly carry out the development and supply of the LeddarCore LCA2 integrated circuits. This newest generation of LeddarCore IC, which is a key component in an automotive LiDAR system, enables solid-state implementations of high-performance, low-cost automotive LiDARs, which are required for the mass-market deployment of semi-autonomous and autonomous vehicles.2
The companies are actively engaged in various business activities to stay ahead in the race of LiDAR market, and the strategies include partnerships and collaborations with both local and foreign players. BIS Automotive has acknowledged the dynamic nature of the LiDAR market and has compiled a market intelligence report titled ‘Global Automotive LiDAR Market, Analysis & Forecast- 2017 to 2026’. According to the analyst at BIS Research, “The global automotive LiDAR market was anticipated to be $65 million in the year 2016. The increasing number of automated vehicles and anticipated decrease in manufacturing price of LiDAR systems, these factors are expected to drive the automotive LiDAR market at a double digit CAGR in the time period 2017-2027.”
This market report identifies the global automotive LiDAR market under different segments such as by type, level of automation, and geography. It also covers current market trends and insights of LiDARs to be integrated according to different level of automation such as LiDARs for level 2, level 3, level 4, and level 5 automation. Market values of these LiDARs have been estimated for the year 2016, and values for the period 2017-2025 have been calculated and provided in the report. The report further presents a detailed examination of automotive LiDAR market along the lines of market drivers, restraints, and growth opportunities
The recent activities of the key players in this market have also been tracked in the form of company profiles. Some of the key companies covered in the report are Continental AG, Leddar Tech, Velodyne LiDAR, Innoluce, Innoviz Technologies, Quanergy Systems, LeddarTech and Phantom Intelligence, etc.
References:
1 Automotive News
2 Market Wired
