China Automotive LiDAR market is expected to show high growth due to increasing advancements and functionality such as ADAS and vehicle to vehicle (V2X)
Light detection and ranging, (LiDAR) is a remote sensing technique that calculates distance by an enlightening target by using laser light. In the automotive industry, this technique is used to improve a vehicle’s navigation abilities by avoidance and detection of obstacles en route. Sensors do this by providing clear 3D snapshots of each object in the vehicle’s area. Along with its plotting feature, the sensors system characteristic automatic speed control, braking systems, adaptive cruise control systems, etc. There are numerous variants of LiDAR units that are available today, such as units with various beams of laser light.
The growth towards self-driving cars is relentless, China as the world’s major auto market and a market leader in internet tools trying to be at the cutting edge of this revolution. North China accounts for the largest Automotive LiDAR Market share in 2016. The auto driving cars is a huge potential market. ADAS market with the market for sensors used in this technology is set to grow manyfold during the forecast period. This growth is majorly driven by developments in sensors technology that can be united to provide better self-driving and also includes aftermarket ADAS for existing vehicles.
The significance of LiDAR sensor technique is shown by Intel’s attainment of Mobileye for USD15.3 billion —largest-ever acquisition of hi-tech Israeli company. The acquisition exemplifies not just that internet companies and hi-tech computing companies have automotive ambitions, also the prominence of ADAS for self-driving. ADAS is one of the major sectors in the automotive field in current years.
In China, the motor vehicle ownership is highly controlled and needs registration in order to get a driving certificate and license plate. Moreover, PRC law prohibits modifications to a vehicle without permission and also entails updating of the registration if any features of a car are transformed. The current rule does allow limited retrofitting to be approved without registration. Modifications that can be done with no registration include fixing of the rear and front anti-collision devices on installation on small cars or tertiary items to cargo vehicles.
The major key players in China Automotive LiDAR Market are-