+1-888-308-5802     
News Contact Us

Automotive LiDAR Market in Europe will grow at over 60% CAGR during the projected timeline

Author : Ronak Bora | Published Date : 2019-03-27 

North America is dominating the automotive LiDAR market and accounts for over 70% of the total market. This growth can be attributed to the presence of a large number of automakers and tech giants. They have adopted various strategic initiatives to advance the automotive LIDAR technology. For instance, in 2017, LeddarTech, a provider of autonomous LiDAR solutions, partnered with Delphi, a developer of autonomous driving technology, to develop cost-effective automotive LiDAR solutions. Furthermore, the presence of a comprehensive regulatory framework has allowed various automakers to conduct tests of autonomous vehicles on public roads and freeways.

Request For Sample Copy Of This Report @ www.gminsights.com/request-sample/detail/2911

The semi-autonomous vehicle market accounted for over 40% of the total revenue in the automotive LiDAR market in 2017. The market is driven by the increasing number of automotive safety regulations across the globe. For instance, the National Highway Traffic Safety Administration (NHTSA) of the U.S. has mandated all the vehicles to be equipped with advanced driver assistance systems by 2020. This has led the automakers to incorporate various advanced driver assistance systems in their automobile.

The autonomous vehicle market is anticipated to grow at a CAGR of over 35% over the forecast timeline. The LIDAR sensors allow a self-driving vehicle to generate a 3D model of its surroundings using light pulses to measure the precise distance of the objects within its vicinity.

The mechanical LiDAR holds the majority share in the automotive LiDAR market. This growth is attributed to the widespread adoption of the technology in various advanced driver assistance system applications. The solid-state LiDAR technology has gained a lot of popularity due to its inexpensive nature and higher performance with regards to the traditional LiDAR sensors. The automakers are currently working on solid-state technology, which is expected to be commercialized by 2020.

Make an inquiry before buying this report @ www.gminsights.com/inquiry-before-buying/2911

There has been an abrupt growth in the demand for LiDAR sensors in the automotive industry. The customers have to wait for extended durations due to the presence of a limited number of suppliers. Therefore, the existing suppliers are building production facilities to meet the growing demand for automotive LiDAR sensors. In addition, the increasing supply-demand gap has attracted new players to the market. Conventional automotive suppliers are forming partnerships or making strategic investments in the existing LiDAR suppliers to access their technology.

Europe automotive LiDAR market will grow at a CAGR of over 60% during the projected timeline. The autonomous industry in the region will grow at a very high pace due to its well-maintained transportation infrastructure and supportive government policies. For instance, in 2015, the Government of the Netherlands established a regulatory framework, which allowed the testing of autonomous vehicles on public roads. In addition, there has been a growth in the number of public-private partnerships, which is further accelerating the growth of the autonomous industry in the country.

Browse Full Report Summary @ www.gminsights.com/industry-analysis/automotive-lidar-market

The companies operating in the automotive LiDAR market are LeddarTech, Continental, Luminar Technologies, Aptiv, Uber, Blackmore Sensors and Analytics, Trilumia, ZF, Magna, Innoviz Technologies, Oryx Vision, BMW, Nissan, Mercedes-Benz, Volvo, RoboSense, Audi, Velodyne, and Quanergy. There has been a significant growth in the number of start-ups working on self-driving technology. These tech giants and auto manufacturers are facing a stiff competition from start-ups which are looking to capitalize on various opportunities.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

Related News

Antimicrobial Coatings Market Size is driven by strong application trends in healthcare application segment

Published Date: 2019-08-09         Author: Ronak Bora

Global antimicrobial coatings market is segmented into medical & healthcare application, indoor air quality application, food application, antimicrobial textile application, mold remediation application and construction. Medical & healthcare application segment can experience substantial ... Read More

Aromatic Solvents Market Size to witness heavy growth prospects via paints & coatings sectors

Published Date: 2019-08-09         Author: Ronak Bora

Aromatic solvents market finds extensive application in varied sectors such as automotive, oilfield chemical, pharmaceutical, and paints & coatings. Pharmaceutical application will exhibit a CAGR of more than 2% over 2016- 2024, owing to its significant usage in drug formulation. Paints & co... Read More

Synthetic Lubricants Market in Europe Will Touch $1.67 Billion Up To 2023

Published Date: 2019-08-09         Author: Ronak Bora

Europe synthetic lubricants market price is predicted to surpass $1.67 billion by end of 2023 due to presence of key automobile and airplaneproducing firms like Audi, Airbus, Volkswagen, Rolls Royce, Mercedes and BMW. Asia Pacific, led by India and China synthetic lubricants market, is predicted ... Read More

© 2019 Fractovia. All Rights Reserved