Global Automotive LiDAR Sensor Market: Industry Analysis and Forecast (2020-2027) (Business Opportunities - Home Business)

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Global Automotive LiDAR Sensor Market: Industry Analysis and Forecast (2020-2027)

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Global Automotive LiDAR Sensor Market was valued US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of XX% during the forecast period.

global automotive market

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Global Automotive LiDAR Sensor Market Overview:

Automotive LiDAR sensors are used to enhance vehicle navigation capabilities by detection and avoidance of difficulties enroute. The light detection and ranging sensors (LiDAR) are detection and survey systems to evaluate the nearness of an object. A LiDAR system mainly consists of a laser, a scanner, and a specialized GPS receiver. An optical pulse is created by the laser, which is radiated and transmitted toward the target. The time taken by the light pulse to bounce back and reach the receiver is measured (utilizing the speed of light) and so the distance of the target is calculated. The technology has emerged as the main pillar for the vision of autonomous cars as it gives a 3D mapping of the vehicle's surroundings. This enables a safe navigation system for the vehicles. The outputs from the LiDAR system is fed into the software, which takes the necessary decisions based on the vehicles surrounding. Some of the applications of the LiDAR system contains adaptive cruise control systems, automatic speed control, and braking systems.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Automotive LiDAR Sensor Market Dynamics:

Global Automotive LiDAR Sensor Market Dynamics:

LiDAR sensors are broadly used to automate driving of vehicles through obstacle detection and avoidance, which would enable safe navigation. As almost all the original equipment manufacturers (OEMs) and Tier-I players are working toward automated driving, LiDAR technology occupies a very prominent position in achieving level 3 and level 4 in vehicle automation. Car manufacturers, for example, Delphi, Continental, Bosch, Audi, Mercedes-Benz, and Google are working on growing the autonomous driving concept and advanced driver assistance systems (ADAS) systems in vehicles. With the increasing shift toward self-driving or unmanned vehicles, there will be an increase in the application of automotive LiDAR sensors.

On account of the evolution from the infotainment concept to telematics features in vehicles, functionalities, like ADAS and vehicle-to-vehicle (V2X) are gaining extensive significance. The rising technological advances in driverless cars have required the use of efficient safety features besides infotainment, security, and performance efficiency, which is one of the critical automotive LiDAR sensors market trends. With regulations mandating numerous safety aspects, consumer demands are also pressurizing OEMs to offer new technology-enabled features, like radar sensors and blind-spot monitoring. Promising government regulations that promote road safety will enhance the deployment of ADAS in autonomous vehicles. Moreover, the developing V2X connectivity will play a vital role in achieving autonomous driving and increasing the adoption of ADAS and subsequently, LiDAR sensors in vehicles. The ability of automotive LIDAR sensors to detect objects at about 300 meters improve on-road safety, the increase in concern for improving the safety of passenger and vehicle is surging the demand for LiDAR sensors in automobiles, which is expected fuel the automotive LiDAR sensors market growth. The rise production of automobiles to meet the growing demand for automobiles as the world population grows is also expected to trend the market upward.

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