LiDAR for robotic cars market is projected to grow at a CAGR of 51.17% during the forecast period, reaching a total market size of US$4,378.572 million in 2024 from US$366.859 million in 2018. LiDARs plays a key role in robotic driving vehicles. The market of LiDAR for robotic vehicles is increasing on account of 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. 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 robotic cars. 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 robotic cars. Factors such as technical limitations related to range and resolution and higher cost of LiDAR sensors are hampering the growth of the market. However, increasing demand for LiDAR for autonomous cars from automobile sector will boost the market growth. 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 Robotic Cars 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 market, 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 LiDAR type and geography.
The LiDAR for robotic cars market has been segmented based on LiDAR type and geography. By LiDAR type, the market is classified as 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 rest of the world. The report provides thorough analysis and forecast along with prevailing market trends and opportunities which each of these regions present for the manufacturers.
Major players in the LiDAR for robotic cars 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 robotic cars market.