Optical-phased array LiDAR market is projected to grow at a CAGR of 151.65% during the forecast period, reaching a total market size of US$36.568 million in 2024 from US$0.144 million in 2018. Optical-phased array-based LIDAR program seeks to integrate thousands of closely packed optical emitting facets, precise relative electronic phase control of these facets, and all within a very small form factor. Demand for OPA based LiDAR is increasing as it has multiple degrees of freedom for phase control which enables not only agile beam steering but also beamforming and multiple beam generation, greatly expanding the diversity of applications. The market of OPA based LiDAR is driven by its increasing applications in autonomous vehicles, precision robotics, and free-space optical communications. However, the high cost of the systems and concerns regarding long-term reliability, especially in harsh environments are factors hampering the growth of the market. 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 technology.
The “Optical-phased array LiDAR Market – Forecasts from 2019 to 2024” is an exhaustive study which 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 component, application, and geography.
The optical-phased array LiDAR market is segmented based on component, application, and geography. By component, the market has been segmented into the transmitter and receiver. By application, the market has been classified into autonomous vehicles, precision robotics, and free-space optical communications.
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 thorough analysis and forecast along with prevailing market trends and opportunities which each of these regions present for the manufacturers.
Major players in the optical-phased array LiDAR 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 optical-phased array LiDAR market.