The automotive LiDAR market size is expected to reach $4.14 billion by 2026, growing at a CAGR of over 35% during the forecast period, according to report published by Polaris Market Research. The report “Automotive LiDAR Market Size By Type (Solid-State LiDAR, Mechanical LiDAR); By Application (Advanced Driver Assistance Systems – (AEB and ACC), Autonomous Vehicle); By Region & Segments Forecast, 2018 – 2026″ provides a holistic analysis of current and predicted market trends.

Light detection and ranging (LiDAR) is a technology based on remote sensing and it is significantly popular among the automobile manufacturers. It is used by these manufacturers in automation systems of vehicles enabling safety. Moreover, the decrease in manufacturing costs of LiDAR due to surge in automation of vehicles is a major factor contributing towards market growth.

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Geographically, the American regional market accounted for the largest share during 2017. While, the Asia Pacific regional market for automotive LiDAR is expected to witness highest growth during the forecast period. Increasing competition is observed among automotive OEMs for developing fully autonomous vehicles in the market. With these rapid advancements in autonomous vehicle technology, the global automotive light detection and ranging market is expected to register considerable growth by 2026. Other important factors such as development of solid-state LiDAR sensors, and significance of the LiDAR sensors in ADAS are also responsible for the market growth.

The major companies operating in the automotive LiDAR sector include established players such as Continental AG, Delphi Technologies, Denso Corporation, First Sensor AG, LeddarTech, Novariant (AgJunction), Quanergy Systems, Inc., Robert Bosch GmbH, Scans LLC, Velodyne LIDAR, Inc.

Polaris Market Research has segmented the global automotive LiDAR market on the basis of type, application and region:

Automotive LiDAR by Type Outlook (Revenue, USD Million, 2015 – 2026)

Solid-State LiDAR
Mechanical LiDAR
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Automotive LiDAR by Application Outlook (Revenue, USD Million, 2015 – 2026)

Advanced Driver Assistance Systems (ADAS)
AEB (Autonomous Emergency Braking)
ACC (Adaptive Cruise Control)
Autonomous Vehicle
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