MEMS LiDAR Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Transmitter, Receiver), By Application (Automotive, Space Applications, Wind Velocimetry, Robotics), And By Geography – Forecast From 2022 To 2027
- Published : Aug 2023
- Report Code : KSI061612980
- Pages : 138
The MEMS LiDAR market was valued at US$270.961 million in 2020 and is expected to grow at a CAGR of 27.05% over the forecast period to reach a market size of US$1,448 million in 2027.
The MEMS LiDAR market is anticipated to grow at a steady pace throughout the forecast period. For MEMS mirrors in LiDAR scanners, a figure of merit is established in terms of aperture size, field of view, and resonant frequency. The figure of merit is used to compare the number of MEMS mirrors with various actuation methods. MEMS mirror-based laser scanners are recognized to offer several benefits over other types of laser scanners in terms of their size, speed, and cost, making them appropriate for LiDAR in a variety of applications.
Application in the automotive sector to boost the market potential.
The MEMS LiDAR market growth is being propelled by rising demand from the automotive sector. the desire for LiDAR is rising along with the desire for automated vehicles. MEMS aids in the production of more affordable and compact LiDAR. MEMS lidar sensors have been included in automobile development by major automotive manufacturers like BMW, and Volvo, to assure safe driving. The demand for these sensors has been sparked by technological advancements such as adaptive algorithms, high-definition mapping, sensor processing, and improved infrastructure, which have prompted several companies to increase the production of autonomous vehicles that use LiDAR technology.
For instance, RoboSense's MEMS solid-state RS-LiDAR-M1 adjusts to any weather for intelligent cars and to conduct a series of verification tests on the M1, RoboSense has adopted the VDA6.3 as the foundation for project management and control, fully implemented the requirements of the IATF16949 quality management system and ISO26262 standard, and integrated ISO16750 and other automotive-grade reliability specifications.
Product innovations are driving the growth of MEMS LiDaR Market
In 2022, Mercedes Benz became the first company to receive globally recognized governmental certification to build vehicles capable of Level 3 autonomous driving. The new Drive Pilot technology from Mercedes Benz is capable of taking over the driving duties when the car is moving at the legal limit of 37 mph.
Several manufacturers to obtain competitive sedge have focused on product improvements. For instance, Velodyne and Ansys revealed in April 2021 that they are creating software models of next-generation vehicle LiDAR sensors to significantly enhance AVs' ability to identify hazards. The partnership combines the LiDAR design from Velodyne into Ansys' virtual sensor library. It speeds up the integration of Velodyne's sensor into AVs by manufacturers, providing the sector's best driving safety and a significantly shorter time to market.
Furthermore, in January 2022, Israeli firm Innoviz was a global leader in the developing market for vehicle LiDAR sensors. Its first mass-market commercial product debuted with BMW later in 2022, most likely on the new Seven series. The firm was one of the first to build a sensor that employed a MEMS-based sensor. Also, Ultra Cruise is hailed as ground-breaking ADAS technology that will help GM achieve its objectives of zero accidents, zero emissions, and zero traffic.
Suitability of MEMS LiDaR for space applications
MEMS LiDAR allows for extremely precise optics with tens of nanometres of tolerance on component characteristics. The components made possible by these techniques give tuning rates up to a thousand times quicker than previous optical tuning components and enable highly precise control over the phase of the light, which is necessary for high-fidelity beam scanning, which is crucial for energy consumption and observations. As such, MEMS LiDAR is financially suitable for space applications.
The demand for MEMS Lidar for space applications is also being driven on account of the extensive aeronautical industry. The rising number variety of space projects and the general rise in popularity of space and astronomical research has also been contributing to the market growth. The expanding astronomical sector is signified by the rising budgets allocated to key aeronautical research firms in recent years, which has propelled the demand for the MEMS LiDAR as well as other technological advancements for space applications.
North America is an Expected Dominant Market
The demand for MEMS LiDAR in the region is expected to accelerate with the increasing demand for automated vehicles. Moreover, in this regard, MEMS supports the manufacturing of smaller LiDAR as well the cost-effective ones which are further likely to drive the MEMS LiDAR market growth. The bolstering growth in automotive production and increasing investment in space operations are expected to provide a positive outlook for the MEMS Lidar market in the USA. For instance, as per the International Organization of Motor Vehicle Manufacturers, in 2021, USA’s light commercial vehicle production reached 7.32 million units which signified a 10% increase in production scale over 6.66 million units produced in 2020.
Moreover, the United States accounts for significant investments in technology and continuous improvements by incorporating high-definition mapping, adaptive algorithms, sensor processing, and even enhanced infrastructure are motivating automotive industry companies in expanding their product of autonomous vehicles which could effectively use lidar technology for safe and smooth functions, thus driving the demand for these sensors in the United States.
- In July 2022, a microelectromechanical system (MEMS) mirror semiconductor for automobile LiDAR was developed by Yitoa Micro Technology Corp. One of the most ideal techniques to implement LiDAR in automobiles, according to Yitoa Micro, is solid-state LiDAR running a MEMS mirror. Unlike mechanical ways of spinning LiDAR, the LiDAR with a coupled MEMS mirror is small and reasonably priced.
- SCHOTT in January 2022, developed cutting-edge packaging solutions for RGB laser chips and MEMS mirrors for augmented reality (AR) applications using its extensive knowledge in glass-to-metal sealing. STMicroelectronics and MEMS-mirror specialist OQmented agreed in March 2021 to work together to advance the technology for augmented reality (AR) and 3D sensing applications. The two businesses are working together to produce the technology and goods that support the top MEMS-mirror-based laser-beam scanning (LBS) solutions on the market.
- In September 2021. Venture-backed inventor OQmented announced the first one-chip MEMS mirror-based laser beam scanning (LBS) technology, intending to make lightweight AR/VR intelligent glasses a reality. The innovation provides manufacturers with the newest ultra-compact projection display alternative, enabling light, fashionable eyewear with powerful visualization capabilities.
- In December 2022, a fast-moving microelectromechanical systems (MEMS) scanning mirror was produced by California-based startup Omnitron Sensors Inc. According to the manufacturer, this will satisfy the broad field of vision requirements for lidars used in robots, drones, and advanced driver assistance systems (ADAS) for automobiles. In comparison to existing MEMS mirrors used in long-range lidars, Omnitron's MEMS mirror will generate a two- to three-times greater field of vision.
MEMS LiDAR Market Scope:
|Market Size Value in 2020||US$270.961 million|
|Market Size Value in 2027||US$1,448 million|
|Growth Rate||CAGR of 27.05% from 2020 to 2027|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Component, Application, and Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||RoboSense (Suteng Innovation Technology Co. Ltd.), Jenoptik, Blickfeld, Pioneer Corporation, Innovize, microvision inc., Drape Inc., Mitsubishi Electric Corporation|
|Customization Scope||Free report customization with purchase|
- By Component
- By Application
- Space Applications
- Wind Velocimetry
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.3. Research Design
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. MEMS LIDAR MARKET BY COMPONENT
6. MEMS LIDAR MARKET BY APPLICATION
6.3. Space Applications
6.4. Wind Velocimetry
7. MEMS LIDAR MARKET ANALYSIS, BY GEOGRAPHY
7.2. North America
7.3. South America
7.4.1. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. RoboSense (Suteng Innovation Technology Co Ltd)
9.4. Pioneer Corporation
9.6. Microvision Inc
9.7. Drape Inc
9.8. Mitsubishi Electric Corporation
RoboSense (Suteng Innovation Technology Co Ltd)
Mitsubishi Electric Corporation
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