Light detection and ranging (LIDAR) is a sensing method that detects objects and maps their distances. The technology works by throwing the target with an optical pulse and measuring the characteristics of the signal received after reflection. A LiDAR system basically consists of a laser, a scanner, and a specialized GPS receiver. An optical pulse is sent by the laser, which is transmitted toward the target. The distance of the object is calculated by measuring the time taken by the pulse to bounce back and reach the receiver. The sensors provides vision to autonomous cars by giving a 3D mapping of the surroundings. The outputs from the LiDAR system is fed into the software, which take decisions such as cruise control systems, automatic speed control, and braking systems based on the vehicles surrounding, Thus enabling a safe navigation system.
The Digitalization is making market trends for the Smart things including the Smart Automobiles to rise exponentially. LiDARs are widely required in making vehicles autonomous, thus growth for the need of better sensors in the automotive market and increase in administrative regulations mandating such installations are affecting market growth. As the demand are still limited, the cost of the system are high which are inturn, limiting the market growth.
Due to the presence of a large number of OEMs and LIDAR manufacturers in Europe region, it is expected to dominate the global market, followed by the Americas. The major players in the Europe market are taking initiatives to expand by entering into partnerships and collaborations with both, global and regional players.
The major Key Players are:- Robert Bosch GmbH, Continental AG, Denso Corp., First Sensor AG, Hella KGaA Hueck & Co., Leddartech, Novariant, Inc., Phantom Intelligence, Quanergy Systems, Inc., Velodyne LiDAR, Inc.
The Automotive LIDAR Sensors Market Key Segments are: