Explosive Growth Forecasted for Automotive LiDAR Sensors Market
The LIDAR (Light Detection and Ranging) system is used to calculate the time it takes a laser pulse to travel a specific distance through a given material. Typically, laser pulses in the automobile industry last between 3 and 20 nanoseconds. The 300-meter detection range of automobile LIDAR sensors is sufficient for most things. worldwide market and it has been noted that the market for automotive LIDAR sensors is primarily being pushed by the advantages of LIDAR sensors, such as high angular resolution and broad vision, which are necessary for appropriate mid-range detection. The software tools are capable of recording the data scanned by the LIDAR, which may be utilized for modeling the nearby cars.
According to MRFR analysis, the global Automotive LIDAR Sensors Market is expected to register a CAGR of ~25% from 2022 to 2030 and hold a value of over USD 800 billion by 2030.
Regional Analysis
Due to the presence of many OEMs and LIDAR manufacturers there, the Europe region is predicted to dominate the worldwide market. The biggest companies in the European market are taking steps to increase their geographic reach by forming alliances and working together with both national and international competitors.
Market Segmentation
The Global Automotive LIDAR Sensors Market has been segmented into Placement, Image Type, and Application
Based on the Placement, the market has been segmented into Headlight & Taillights, Bumpers, Roofs, and Others.
Based on the Image Type, the market has been segmented into 2D Images and 3D Images.
Based on the Application, the market has been segmented into Semi-Autonomous Vehicles and Autonomous Vehicles.
Key Players
Some of the key market players are Delphi Automotive, Continental, ZF Friedrichshafen, Infineon Technologies, Velodyne LiDAR, Texas Instruments Incorporated, First Sensor, Robert Bosch, Ibeo Automotive, Quanergy Systems, Valeo S.A., Denso, and PulsedLight.
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