Research and Markets has announced the addition of the “Automotive LiDAR Market 2014 – 2024” report to their offering. According to the report he global automotive LiDAR market is expected to reach USD 223.2 million by 2024.
The surging acceptance of automobile safety application arenas and sophisticated technology incorporations in automobile driving automation are expected to boost the market growth. The increasing acceptance for semi-autonomous and autonomous cars in the years to come is further anticipated to bolster the market growth.
The market can be categorized, based on application types, into Advanced Driver Assistance Systems (ADAS) & autonomous cars. The ADAS application segment is further segregated into Automatic Emergency Braking (AEB) and Adaptive Cruise Control (ACC). The ADAS application segment is expected witness a significant growth, owing to the surging incorporation of forward-collision avoidance systems.
Adaptive cruise control (ACC) is a discretionary cruising choice for automobiles that robotically modifies the vehicle speed to retain a safe distance from vehicles ahead.The rising adoption of these systems in autonomous and semi-autonomous cars at various levels of automation is expected to draw huge ventures from the key participants, thus driving the regional market demand in the years to come.
Some companies working in this area are Continental AG, Denso Corporation, LeddarTec, Novariant, Inc, Phantom Intelligence,Inc., Quanergy Systems, Inc. ,Robert Bosch GmbH,Teledyne Optech, Valeo.