This growth will be achieved will automotive sensor units enjoy a CAGR of 8 percent and automotive sales go up at a CAGR of 3 percent over the same period.
The automotive sensor market includes MEMS and classic active sensors such as pressure, TPMS, chemical, inertial, magnetic, ultrasonic, imaging, radar and lidar. The push towards automation of driving is spurring the development of imaging and detection sensors like cameras, LiDAR, and radar, while electrification will boost the design of current and thermal sensors for battery management.
Imaging, radar and lidar sensor markets will be worth $7.7 billion, $6.2 billion and $4.4 billion respectively in 2022. The lidar market in particular is expected to go from just a $300 million annual market in 2017 to $4.4 billion in 2022. Over the same period lidar cost will come down from $5,000 per unit to $500 per unit.
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