LiDAR For ADAS Market Size, Share, Opportunities, COVID-19 Impact, and Trends By Product Type (MEMS LiDAR, Optical Phase-Array LiDAR, Flash LiDAR), And By Geography – Forecast From 2022 To 2027

The LiDAR for ADAS market was valued at US$299.887 million in 2020 and is expected to grow at a CAGR of 36.30% over the forecast period to reach a total market size of US$2,620.726 million in 2027. 

In the automotive applications of LiDAR technology, most of these sensors are installed on the top of the vehicle. LiDAR Sensors continuously rotate and generate thousands of laser pulses every second. These high-speed laser beams from LIDAR are continuously emitted in the surroundings of the vehicle at a 360-degree scope and are reflected by the objects in the way. With the use of complex machine learning algorithms, the data received through this activity is then converted into real-time 3D graphics, which are often displayed as either 3D images or 3D maps of the surrounding objects.

The market for 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.

Growing autonomous vehicles

The improvements in technology, like adaptive algorithms, high-definition mapping, sensor processing, and enhanced infrastructure, have been prompting various companies to expand the production of autonomous vehicles, which use LiDAR technology for their functioning, thus catalyzing the demand for these sensors. The market has a huge range of products and systems that make the autonomous vehicle infrastructure. Autonomous cars enable independent mobility for non-drivers and people suffering from disabilities. It allows travelers to travel with more comfort and also offers the flexibility to read, rest, or even work while traveling, thus, increasing their efficiency. Other benefits like increased safety with reduced crash risks and increased road capacity with reduced costs are expected to significantly drive the adoption of these vehicles in the market, which in turn is projected to propel the market for LiDAR sensors used in these vehicles.

Several key players have been working towards enhancing the experience of using autonomous vehicles, with the help of developing technologies. For instance, in 2019, Volkswagen announced its collaboration with Ford to invest in the AI vendor Argo AI. The partnership's aim was to introduce autonomous vehicle technology in the US and Europe. The company decided to invest more than USD 4 billion through 2023 to develop and enhance its autonomous services. Further, Audi became the first company to develop a Level 3 autonomous car by launching its Audi A8 in the market. Furthermore, in 2022, German automaker Mercedes Benz became the world's first to gain internationally valid regulatory approval for producing vehicles capable of Level 3 autonomous driving. Mercedes Benz's updated Drive Pilot system is capable of taking over the driving chores while the vehicle is traveling at the legally permitted speed of 37 miles per hour. All these developments and innovations in the automobile sector are thus expected to drive the sales for autonomous vehicles, conversely augmenting the market for LiDAR sensors for ADAS.

Key developments

• April 2021: Velodyne LiDAR announced its adoption by Faraday Future as a lidar supplier for Faraday’s FF 91 all-electric vehicle. Velodyne’s solid-state Velarray H800 lidar sensors power the FF 91’s autonomous driving system to deliver several autonomy features. Velarray H800 is a solid-state lidar sensor that integrates long-range perception and a broad field of view for safe navigation and collision avoidance in ADAS and autonomous mobility applications.
• October 2022: Cepton, Inc., a Silicon Valley innovator and leader in high-performance lidar solutions, announced entering into a binding investment agreement for a $100 million investment from its long-term automotive Tier 1 partner and current shareholder, Koito Manufacturing Co., Ltd. This investment is aimed to be used to fund Cepton’s next phase of growth as it scales its lidar solutions for mass deployment.

COVID-19 Insights

The COVID-19 pandemic had a severely negative impact on the overall automotive industry, compelling automakers to cut down on their output at their production plants. The pandemic also impacted many OEM operations, from production to R&D, which created short-term disruption and delayed autonomous vehicle development and rollouts. Following these events, The China Association of Automobile Manufacturers revised its predictions for the year 2020, projecting a 10% drop in sales for the first half of 2020 and 5% for the entire year on account of the COVID-19 pandemic. Further, according to predictions by the SMMT, car output was estimated to fall by 18% in 2020 as a result of COVID-19 closing all the major UK plants. Thus, all this conversely caused a decline in the market for LiDAR for ADAS as well.

LiDAR For ADAS Market Scope:

 

Report Metric	Details
Market Size Value in 2020	US$299.887 million
Market Size Value in 2027	US$2,620.726 million
Growth Rate	CAGR of 36.30% from 2020 to 2027
Base Year	2020
Forecast Period	2022–2027
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

 

Segmentation:

• By Product Type
  • MEMS LiDAR
  • Optical Phase-Array LiDAR
  • Flash LiDAR
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa (MEA)
    • Saudi Arabia
    • UAE
    • Isreal
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
    • Thailand
    • Taiwan
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Covid-19 Scenario

1.3. Market Definition

1.4. Market Segmentation

 

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

 

3. EXECUTIVE SUMMARY

3.1. Research Highlights

 

4. MARKET DYNAMICS

4.1. Market Driver

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.3.1. Bargaining Power of End-Users

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. LIDAR FOR ADAS MARKET BY PRODUCT TYPE

5.1. Introduction

5.2. MEMS LiDAR

5.3. Optical Phase-Array LiDAR

5.4. Flash LiDAR

 

6. LIDAR FOR ADAS MARKET BY GEOGRAPHY

6.1. Introduction

6.2. North America

6.2.1. United States

6.2.2. Canada

6.2.3. Mexico

6.3. South America

6.3.1. Brazil

6.3.2. Argentina

6.3.3. Others

6.4. Europe

6.4.1. UK

6.4.2. Germany

6.4.3. France

6.4.4. Italy

6.4.5. Spain

6.4.6. Others

6.5. Middle East and Africa (MEA)

6.5.1. Saudi Arabia

6.5.2. UAE

6.5.3. Isreal

6.5.4. Others

6.6. Asia Pacific

6.6.1. China

6.6.2. Japan

6.6.3. South Korea

6.6.4. India

6.6.5. Indonesia

6.6.6. Thailand

6.6.7. Taiwan 

6.6.8. Others

 

7. COMPETITIVE ENVIRONMENT AND ANALYSIS

7.1. Major Players and Strategy Analysis

7.2. Emerging Players and Market Lucrativeness

7.3. Mergers, Acquisitions, Agreements, and Collaborations

7.4. Vendor Competitiveness Matrix

 

8. COMPANY PROFILES

8.1. Continental AG

8.2. XenomatiX N.V.

8,3. Ibeo Automotive Systems GmbH

8.4. DENSO CORPORATION

8.5. LeddarTech Inc.

8.6. Quanergy Systems, Inc.

8.7. Velodyne Lidar, Inc.

8.8. Magna International Inc.

8.9. TETRAVUE, INC.

8.10. Ouster, Inc.

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.