LiDAR for ADAS market is projected to grow at a CAGR of 51.28% during the forecast period, reaching a total market size of US$2,127.070 million in 2024 from US$177.448 million in 2018. LiDARs play a key role in automated driving vehicles. The market of LiDAR for advanced driver-assistance systems (ADAS) is increasing on account of the increasing demand for autonomous cars. LiDAR helps in road scanning to understand vehicle surroundings with precise and real-time 3D digitization and makes them an essential building block in ADAS. Several benefits offered by LiDAR such as facilitating object detection and tracking, free space detection, road profile measurement, and localization capabilities are further boosting demand for LiDAR for ASAD. Geographically, North America will have a significant market share on account of the progression towards autonomous vehicle technology in commercial cars, robust technology, and early adoption of ADAS. Factors such as technical limitations related to range and resolution and the higher cost of LiDAR sensors are hampering the growth of the market. Moreover, increasing investments in R&D to make cheaper, smaller, and more reliable sensors with fewer moving parts will growth opportunities for the market.
The “LiDAR for ADAS Market – Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key markets, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by product type and geography.
The LiDAR for ADAS market is segmented by product type and geography. By product type, the market has been segmented into MEMS LiDAR, optical-phased array LiDAR, and flash LiDAR.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, Europe, Asia Pacific, and the rest of the world. The report provides a thorough analysis and forecast along with prevailing market trends and opportunities which each of these regions presents for the manufacturers.
Major players in the LiDAR for ADAS market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the LiDAR for ADAS market.
|Market size value in 2018||US$177.448 million|
|Market size value in 2024||US$2,127.070 million|
|Growth Rate||CAGR of 51.28% from 2018 to 2024|
|Forecast Unit (Value)||USD Million|
|Segments covered||Product Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Continental AG, XenomatiX N.V., Ibeo Automotive Systems GmbH, DENSO CORPORATION, LeddarTech Inc., Quanergy Systems, Inc., Velodyne Lidar, Inc., Magna International Inc., TETRAVUE, INC., Ouster, Inc.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the LiDAR for ADAS market size by 2024?
A1. LiDAR for ADAS market is projected to reach a total market size of US$2,127.070 million by 2024.
Q2. What are the growth prospects for LiDAR for ADAS market?
A2. The LiDAR for ADAS market is projected to grow at a CAGR of 51.28% during the forecast period.
Q3. What is the size of global LiDAR for ADAS market?
A3. The global LiDAR for ADAS market is evaluated at US$177.448 million for the year 2018.
Q4. Which region holds the largest market share in the LiDAR for ADAS market?
A4. Geographically, North America will have a significant market share on account of the progression towards autonomous vehicle technology in commercial cars, robust technology, and early adoption of ADAS.
Q5. What factors are anticipated to drive the LiDAR for ADAS market growth?
A5. The market of LiDAR for advanced driver-assistance systems (ADAS) is increasing on account of the increasing demand for autonomous cars.
Ibeo Automotive Systems GmbH
Quanergy Systems, Inc.
Velodyne Lidar, Inc.
Magna International Inc.
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