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Automotive LiDAR Market Is Predicted To Reach USD 223.2 Million By 2024: Grand View Research, Inc.

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Automotive LiDAR Market Is Predicted To Reach USD 223.2 Million By 2024: Grand View Research, Inc.

August 22
18:58 2019
Grand View Research, Inc. – Market Research And Consulting.
According to a report published by Grand View Research, The surging acceptance of automobile safety application arenas and sophisticated technology incorporations in automobile driving automation are expected to boost the market growth.

The global automotive LiDAR market is expected to reach USD 223.2 million by 2024, according to a new report by Grand View Research, Inc. The surging acceptance of automobile safety application arenas and sophisticated technology incorporations in automobile driving automation are expected to boost the market growth. The increasing acceptance for semi-autonomous and autonomous cars in the years to come is further anticipated to bolster the market growth.

U.S. automotive LiDAR market by application, 2014 – 2024 (USD Million)

U.S. automotive LiDAR market by application, 2014 - 2024 (USD Million)

 

The market can be categorized, based on application types, into Advanced Driver Assistance Systems (ADAS) & autonomous cars. The ADAS application segment is further segregated into Automatic Emergency Braking (AEB) and Adaptive Cruise Control (ACC). The ADAS application segment is expected witness a significant growth, owing to the surging incorporation of forward-collision avoidance systems.Adaptive cruise control (ACC) is adiscretionary cruising choice for automobiles that robotically modifies the vehicle speed to retain a safe distance from vehicles ahead.The rising adoption of these systems in autonomous and semi-autonomous cars at various levels of automation is expected to draw huge ventures from the key participants, thus driving the regional market demand in the years to come.

In October 2016, Infineon Technologies AG (Germany) acquired Innoluce BV (The Netherlands), a fabless semiconductor company headquartered in Nijmegen. Infineon says it would develop chip components for high-performance LiDAR systems by utilizing Innoluce’s patented technology. This acquisition is expected to establish Infineon’s strong foothold as one of the automotive safety technologies vendors.

Explore Further Insights & Data Report: http://www.grandviewresearch.com/industry-analysis/automotive-lidar-market

Further key findings from the report suggest:

  • The global automotive LiDAR market is estimated to grow significantly over the forecast period due to the automation in the car safety technology, leading to reduced human efforts and increased efficiency

  • Extensive R&D by market players, updated ratings of safety agencies and the increasing awareness, among consumers, have fueled the market growth assume major automakers have already started to integrate basic AEB systems as optional and standard options into their mass-market models

  • The markets in the North American region including the U.S. & Canada and the European regions occupied a marginal proportion of the market share in 2015 on account of the administrative regulations mandating the installation of certain automotive safety technologies in both light weight and heavy weight vehicles in the region

  • The key industry participants include Robert Bosch GmbH, Denso Corporation, Velodyne LiDAR, Inc., Novariant, Inc., LeddarTech, Continental AG, and Quanergy Systems, Inc.

Have Any Query? Ask Our Experts @ https://www.grandviewresearch.com/inquiry/3375/ibb

Grand View Research has segmented the global automotive LiDAR market based on application type and regions:

LiDAR Application Type Outlook (Revenue, USD Million, 2014 – 2024)

  • Advanced Driver Assistance Systems(ADAS)

    • Automatic Emergency Braking (AEB)

    • Adaptive Cruise Control (ACC)

  • Autonomous Cars

LiDAR Regional Outlook (Revenue, USD Million, 2014 – 2024)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • The Middle East & Africa

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

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Website: www.grandviewresearch.com/industry-analysis/automotive-lidar-market