ICV: 2022 Automotive LiDAR Market Research Report

The automotive industry has been undergoing a significant transformation in recent years with the adoption of advanced technologies. One of the emerging technologies in the industry is Automotive LiDAR, which stands for Light Detection and Ranging.

 

Key players in the Automotive LiDAR market include Valeo, Hesai, Innoviz, Luminar, and RoboSense, among others. These companies are investing heavily in research and development to improve the performance and reduce the cost of LiDAR sensors. This report will show the competitive landscape of the Automotive LiDAR market.

 

The global market for Automotive LiDAR is segmented into five regions, namely China, Europe, America, Asia (exclude China), Oceania, and Middle East (AOME), and Africa. Each region has its unique market dynamics, and the report will provide a comprehensive analysis of the market in each region.

In 2022, the global market size of automotive LiDAR was $363 million, and it is expected to exceed $6 billion in 2025 and reach $11.011 billion in 2027 with a 6-year CAGR of 76.6%. China dominates the market share with 44.9%, followed closely by Europe, where European automotive LiDAR sales accounted for 33.1% of the global market in 2022.

In 2022, the market size of automotive LiDAR in China was $163 million, and it is expected to surpass $5 billion by 2027, with a CAGR of approximately 77.9% over six years. The European market, with a market size of $120 million in 2022, ranks second in terms of market size. It is expected to exceed $3 billion by 2027, reaching $3.18 billion, with a six-year CAGR of 72.6%.

Currently, the leading companies in the automotive LiDAR industry include Hesai, Valeo, RoboSense, Luminar, Innoviz, and Velodyne. Measured by revenue related to automotive LiDAR, Hesai holds the largest global market share at 48%. Following closely behind is Valeo with a market share of 25%. Based on its 2022 financial report, revenue from automotive LiDAR products accounts for approximately 2% of Valeo's total sales revenue. RoboSense ranks third with a market share of approximately 15.42% in 2022. Its self-developed MEMS mirror module has passed AEC-Q100 certification, and its market share is expected to grow in the future.

Currently, mainstream technologies for automotive LiDAR can be classified into hybrid solid-state and fully solid-state LiDAR. Hybrid solid-state LiDAR has a higher angular resolution and is typically used as the main LiDAR. This technology can be further subdivided into rotating mirror and MEMS mirror. Fully solid-state LiDAR technology is less mature and mainly utilizes Flash technology or optical phased array technology. Its precision is lower than that of hybrid solid-state LiDAR and is better suited for use as a blind-spot LiDAR. In 2022, the market size for rotating mirror LiDAR is about 309 million US dollars, while the market size for MEMS mirror LiDAR is only 54 million US dollars.