Lidar Sensor Automotive Market Size, Share, Industry Trends and Forecast to 2030

Lidar Sensor Automotive Market Size & CAGR in 2021

The global Lidar Sensor Automotive market is expected to witness a growth rate of 22.3% CAGR from 2021 to 2028. Market analysts anticipate the market to reach a value of USD 3.5 billion by the end of 2028.

COVID-19 Impact on the Lidar Sensor Automotive Market

The outbreak of COVID-19 had a significant impact on the Lidar Sensor Automotive market, leading to disruptions in supply chains, manufacturing operations, and reduced consumer demand. However, the market has shown resilience and has started to recover as industries have adapted to the new normal.

Lidar Sensor Automotive Dynamics

The Lidar Sensor Automotive market is driven by the increasing adoption of autonomous vehicles, advancements in Lidar sensor technology, and the growing demand for safety features in vehicles. Additionally, regulatory mandates for the incorporation of advanced driver-assistance systems (ADAS) in vehicles are further boosting market growth.

Segments and Related Analysis

The Lidar Sensor Automotive market is segmented based on technology, application, vehicle type, and region. The technology segment includes mechanical, solid-state, and flash Lidar sensors. Applications of Lidar sensors in automotive include autonomous vehicles, semi-autonomous vehicles, and advanced driver-assistance systems (ADAS).

By Region Analysis

The Lidar Sensor Automotive market is analyzed across regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America and Europe are expected to dominate the market due to the high adoption rate of autonomous vehicles and stringent safety regulations.

Key Market Players and Competitive Landscape

Key players in the Lidar Sensor Automotive market include Velodyne Lidar, Inc., Luminar Technologies, Inc., Innoviz Technologies, Quanergy Systems, Inc., and LeddarTech. These companies are focusing on strategic partnerships, product innovation, and research and development to gain a competitive edge in the market.

Recent Happenings in the Lidar Sensor Automotive Market

In recent developments, Velodyne Lidar announced a partnership with Ford to supply Lidar sensors for the automaker's autonomous vehicle program. Luminar Technologies unveiled a new high-performance Lidar sensor for automotive applications. Innoviz Technologies launched a next-generation Lidar sensor with enhanced range and resolution capabilities.