- ADAS and autonomous vehicle market has been a catalyst for the broader acceptance of LiDAR technology
- Except Tesla, all automotive OEMs pursue sensor fusion with lidar
The lidar market has showcased tremendous growth in the last few years. According to a report by IDTechEx, the lidar market for automotive applications will grow to US$8.4 billion by 2033.
Lidar has been known for its ranging technique, which has existed for decades, shortly after the invention of the laser. For mapping, surveying, military, archaeology, agriculture, and geology, Lidar has been used. 3D lidar is an optical perception technology that enables machines to see the world, make decisions and navigate.
The research says that, except Tesla, all automotive OEMs pursue sensor fusion with lidar included as their future answer. The demand has been increasing day by day for 3D information, making lidar more attractive.
The battle in the automotive Advanced Driver Assistance Systems (ADAS) and autonomous vehicle market has played a crucial role in driving the acceptance of LiDAR (Light Detection and Ranging) technology in various other application markets.
The report contains a comprehensive analysis of 95 players developing 3D lidar for the ADAS and autonomous vehicles market, which includes a detailed assessment of technology innovations and market dynamics.
The competitive landscape in the automotive ADAS and autonomous vehicle market has catalysed the wider acceptance of LiDAR technology across various application markets. This trend is expected to continue as LiDAR technology evolves, becoming more affordable and reliable and offering new opportunities for innovation and consumer benefits in diverse industries.