Automotive lidar sensor market promises double-digit CAGR, study says

March 25, 2020 //By Christoph Hammerschmidt
Automotive lidar sensor market promises double-digit CAGR, study says
A report published by Research Dive states that the global automotive lidar market is set to rise at a CAGR of 39.0% during the forecast period from 2019 to 2026. The global market is anticipated to generate a revenue of $2,436.3 million by 2026. As a key factor driving the market, the report identifies the technology’s capability of providing 3D images.

On the basis of type, the global automotive lidar sensor market is segmented into mechanical and solid-state lidar. The market share for mechanical lidar was largest with 57.8% in 2018, and is anticipated to generate a revenue of $87.9 million during the period of forecast. This is in the first place due to the advanced features exhibited by the mechanical lidar such as 360° view along with the widest field of view (FOV) to all the advanced driver assistance systems technologies. On the other hand, solid-state segment is projected to register the highest growth rate during the forecast period growing at a 40.0% CAGR. This is mainly due to rapid growth in the preferences by the OEM's to differentiate between moving objects and the stand still objects.


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