Global Automotive LiDAR Sensors Market Anticipated To Reach Over XX Million During Forecast Period
According to a new report published by Reports Monitor titled, “Automotive LiDAR Sensors Market by vehicle Type, Image Type, Technology and Application: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Automotive LiDAR Sensors Market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025. Europe is expected to be the largest market for automotive LiDAR sensors and is expected to grow continuously over the forecast periods.
The Automotive Light Detection and Ranging system is a sensing technology in automotive industry to upgrade a vehicles navigation capability by detection and avoidance of obstacles enroute. The system implies Time of Flight method using which it is determined that how much time is required by the laser pulse to overcome a particular distance targeting object. A LiDAR technology primarily comprises of a pulse laser, a scanner, a photo detective receiver and a specialized navigation system. LiDAR sensors serve as a perfect connection between close ranges and far range sensor systems. The sensor even possesses features such as wide field view required for proper mid-range detection, high angular resolution. In addition data captured by LiDAR is capable of being recorded using software tools that can create a model of vehicle surrounding.
Growing customer adoption for safety and comfort and strict & rigid administrative regulations make compulsion for such installations drives the growth of the market. Expanding advancement in technology and demand for large vehicle production by end-user pertaining to increasing electrification in the automotive industry fuels the market for future growth. Furthermore, rising need for advanced sensor systems in automotive industry and flexibility of LiDAR sensors to work even in absence of light at any time makes them popular amongst large pool of populace affects the market positively leading to develop further. None the less price competitiveness, underdeveloped aftermarket and shortage of uniform fabrication process for mems might restrict the market growth in coming years. Rising demand for ADAS sensors, increasing usage by OEMs and expeditious development in autonomous cars provides significant opportunities to key market players to expand their business.
Key Question Answered:
• What will the market growth rate, Overview and Analysis of Global automotive LiDAR sensors Market over the forecast period from 2017 to 2025?
• What are the key factors driving the growth of the market, Analysis by Applications and Countries engaged in Global automotive LiDAR sensors Market?
• What are the Opportunities, trends, Risk and threats Faced by the vendors in Global automotive LiDAR sensors Market?
• What are the challenges to encounter by key vendors in the global automotive LiDAR sensors market growth?
• Deep analysis of top key players in the market and what are their strategies to expand automotive LiDAR sensors market globally?
• What is the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• Macroeconomic factors affecting the growth of the automotive LiDAR sensors market and what are the key outcomes of the five forces analysis of the global automotive LiDAR sensors market?
Major players profiled in the report include: Velodyne LiDAR, Quanenergy Systems, LeddarTech, First Sensor AG, Novariant, Phantom Intelligence, Bosch, Continental, Valeo and PulsedLight.
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