A light detection and ranging (LiDAR) sensor has made the examination, detection, and mapping of objects easier than conventional methods. The laser light delivers accurate and precise data points in short time. LiDAR sensors are preferred over conventional surveying methods due to their ability to provide extremely accurate data and 3D scanning of images in a shorter time. The enhanced automated processing ability of LiDAR sensors in terms of image resolutions and data processing capabilities over other technologies is a major factor that is presently driving the global automotive LiDAR sensor market. LiDAR sensors are widely employed to automate driving of vehicles by obstacle detection and avoidance, which enables safe navigation.
LiDAR technology occupies a highly prominent position in achieving level 3 and level 4 (semi-autonomous and autonomous) in vehicle automation, as almost all automotive manufacturers are working toward production of automated driving vehicles. Car manufacturers such as Delphi, Continental, Bosch, Audi, Mercedes-Benz, and Google are working to expand the autonomous driving concept and advanced driver assistance systems in vehicles. Rise in concern for greenhouse gas emission, fuel economy, and stringent emission norms have prompted automotive manufacturers to employ advanced technology in order to overcome these challenges. Automotive LiDAR sensors play a crucial role in meeting the regulation limits, thereby propelling the market.
The global automotive LiDAR sensor market can be segmented based on application, technology, location, vehicle, and region. In terms of application, the automotive LiDAR sensor market can be segregated into semi-autonomous vehicle and autonomous vehicle. Strict protocols and policies with respect to vehicle, driving norms, environmental regulations, and rise in consumer orientation toward safe driving are estimated to boost the demand for autonomous vehicles significantly during the forecast period. Based on technology, the automotive LiDAR sensor market can be segmented into solid state and mechanical/scanning. Demand for solid state technology in the global automotive market has been rising significantly. This is anticipated to propel the adaptive solid state segment of the automotive LiDAR sensor market during the forecast period.
In terms of location, the automotive LiDAR sensor market can be segmented into bumper & grill, headlight & taillight, roof & upper pillars, and windscreen & rear view mirror. In terms of vehicle, the automotive LiDAR sensor market can be segregated into passenger vehicle, light commercial vehicle, heavy commercial vehicle, and electric vehicle. The electric vehicle segment is projected to expand during the forecast period. Rise in concern for environmental protection, increase in the sale of electric vehicles, and governmental initiatives for green vehicle have propelled the market significantly.
In terms of region, the global automotive LiDAR sensor market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is expected to be the dominant region in the global market. Increase in the adoption rate of advanced driver-assistance systems technologies in the automotive industry is a key driver of the automotive LiDAR sensors market in the region. Furthermore, rise in the number of road fatalities has led to an extensive usage of mid-range LiDAR sensors and short-range LiDAR sensors, which in turn, is projected to boost the automotive LiDAR sensor market in Asia Pacific.
Key players operating in the global automotive LiDAR sensor market are Delphi Automotive LLP., Continental AG, ZF Friedrichshafen AG, Infineon Technologies AG, Velodyne LiDAR, Inc., Texas Instruments Incorporated, LeddarTech, First Sensor AG, Quanergy Systems, Inc., and Innoviz technologies, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
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The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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