Selbyville, DE -- (SBWIRE) -- 04/17/2020 -- With increasing research and development activities across the globe for development of autonomous vehicles, automotive LiDAR market share is expected to observe considerable growth by 2024. Automobile manufacturers and technology giants, such as GM and Google, have been partnering to develop solutions for autonomous vehicles. Favorable government policies and initiatives are likely to further foster automotive LiDAR industry size. Automotive LiDAR market forecast report has anticipated 3 million units automotive LiDAR to be sold by 2024 with industry size to surpass almost $3 billion in terms of revenue.

Solid-state LiDAR segment is predicted to grow substantially over the coming years. This technology is under development and anticipated to be commercialized by 2020. Though, the technology has been gaining a lot of traction from automotive manufacturers owing to its compact size and cost-effective nature. The entire assembly of solid-state LiDAR is developed on a silicon chip with no moving components which makes the system more resilient to vibrations. Such advantages enables manufacturers to create smaller parts at a lower price which will in turn expand automotive LiDAR market size.

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Intensifying concerns about safety among manufacturers and regulatory bodies to protect passengers and vehicles will augment automotive LiDAR market trends in the near future. Governments throughout the world have been incessantly striving to improve vehicle safety. They have been implementing the use of advanced driving assistance systems in automobiles and improving vehicle safety systems. For example, New Car Assessment Program (NCAP) initiated by the European government is aimed to encourage the use of ADAS systems in vehicles to ensure safety. Likewise, the U.S. has formed National Highway Traffic Safety Administration (NHTSA) to introduce latest guidance systems for Automated Driving Systems (ADS).

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Argo
2. Benewake
3. Cepton
4. Continential
5. AEye
6. Hesai
7. IFM
8. Innoviz Technologies
9. LeddarTech
10. LeiShen Intelligent System
11. Luminar
12. Ocular Robotics
13. Omron
14. Oryx
15. Ouster
16. Panasonic
17. Quanergy
18. Robosense
19. Sense Photonics
20. Strobe
21. Sure Star
22. Tetravue
23. Valeo
24. Velodyne
25. Xenomatix

North America has dominated automotive LiDAR market outlook with revenue share of more than 70% in the year 2017. The growth is attributable to supportive government policies. For example, in 2016, the Canadian government has reportedly started Ontario Regulation 306/15 which permits testing of self-driving vehicles. Additionally, automotive market players in the region have also invested substantially for development of automotive LiDAR technology.

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Europe automotive LiDAR market forecast predicts the region to witness a CAGR of more than 60% over 2018-2024. Autonomous sector in the region is likely to expand at a rapid pace owing to supportive government policies and well-maintained transportation infrastructure. For example, in 2015, Government of the Netherlands initiated a regulatory framework to enable testing of autonomous vehicles on public roads. Moreover, rise in number of public-private partnerships have been noted which will encourage autonomous sector and automotive LiDAR industry trends in Europe.

Table of Contents (ToC) of the report:
Chapter 5. Global Automotive LiDAR Market, By Type
5.1. Key trends, by type
5.2. Mechanical LiDAR
5.2.1. Market estimates and forecast, 2016 - 2024
5.2.2. Market estimates and forecast, by region, 2016 - 2024
5.3. Solid state LiDAR
5.3.1. Market estimates and forecast, 2016 - 2024
5.3.2. Market estimates and forecast, by region, 2016 - 2024

Chapter 6. Global Automotive LiDAR Market, By Vehicle
6.1. Key trends, by vehicle
6.2. Autonomous vehicle
6.2.1. Market estimates and forecast, 2016 - 2024
6.2.2. Market estimates and forecast, by region, 2016 - 2024
6.2.3. Autonomous vehicle market, by type, 2016 - 2024
6.3. Semi-autonomous vehicle
6.3.1. Market estimates and forecast, 2016 - 2024
6.3.2. Market estimates and forecast, by region, 2016 – 2024
6.3.3. Semi-autonomous vehicle market, by type, 2016 - 2024

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