The global automotive LiDAR sensors market revenue was around US$ 794.5 million in 2021 and is estimated to reach US$ 12.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 31.7% during the forecast period from 2022 to 2031.
Light Detection and Ranging (LiDAR) sensors are remote sensing technology that is used to measure distance and detect things. Autonomous vehicle sensors required for the development of autonomous vehicles are automotive LiDAR scanners. Additionally, a crucial part of autonomous vehicles is their LiDAR sensors, which give users a detailed 3D view of their surroundings.
Factors Influencing Market Growth
Due to the sensor's ability to calculate the density of raindrops, lidar technology can be used in any lighting setting, even in the most difficult circumstances. These elements could accelerate the market's expansion.
The growing acceptance of autonomous vehicles, which require these sensors for security and accident avoidance. Such factors fuel the market growth.
A rise in developments from industry players, such as the integration of sensor technology in lidar point clouds through feature clustering and extraction to perceive the obstacles more effectively, is predicted to open up the lucrative potential for the market.
Expensive price and inability to calculate the distance in dense fog and heavy rainfall. Thus, it constrains market growth.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the market. Due to the lockdown enacted by the government, sales and global supply chains were halted. In addition, lidar sensors are mostly manufactured and exported from China. This nation was the epicenter of the COVID-19 pandemic, its exports were negatively impacted, which decreased the production of sensors. Sales of sensors are directly correlated with demand from end-use sectors, namely safety and the automobile sector. Additionally, due to the pandemic, export-import restrictions, closed borders, and supply chain interruptions had a significant negative impact on the demand for lidar in the automobile sector.
Asia-Pacific is anticipated the fastest growth throughout the forecast period. China and India in particular are experiencing a tremendous increase in demand for lidar sensors. The capacity of the sensor to determine the density of raindrops allows lidar technology to be employed in any lighting conditions, even under the most challenging conditions. These components fuel the market's growth.
The leading competitors in the global automotive lidar sensors market are:
Robert Bosch GmbH
First Sensor AG
Hella KGaA Hueck & Co
Quanergy Systems Inc
Velodyne Lidar Inc
Texas Instruments Incorporated
The global automotive lidar sensors market segmentation focuses on Type, Technology, image Type, Vehicle Type, Application and Region.
Segmentation based on Type
Time of Flight (ToF)
Segmentation based on Technology
Segmentation based on Image Type
Segmentation based on Vehicle Type
Internal Combustion Engine (ICE)
Segmentation based on Application
Segmentation based on Region
Rest of Western Europe
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America