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Automotive LiDAR Market 2020 Global Industry Size, Share, Revenue, Business Growth, Demand and Applications Market Research Report to 2027

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Rahul Sharma
Automotive LiDAR Market 2020 Global Industry Size, Share, Revenue, Business Growth, Demand and Applications Market Research Report to 2027

San Francisco, 22 June 2020 — “Automotive LiDAR Market Analysis By Regions (North America, Europe, Asia-Pacific, Latin America and Africa), Product, By Application And Segment Forecasts To 2027”

Global Automotive LiDAR Market size is expected to value at USD 223.2 million by 2024. The market is subject to witness a substantial growth due to the increasing demand for advanced safety features in both lightweight and heavyweight vehicles, and mandatory administrative regulations for incorporation of safety measures such as AEB braking systems installations, majorly in the developed economies such as U.S. and the UK. Rise in the integration of safety systems in both autonomous and semi-autonomous vehicles owing to increasing demand from end-user is expected to drive the growth of automotive LiDAR market over the forecast period.

 

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LiDAR or LADAR is widely accepted surveying method that determines target distance by exemplifying the target area with pulsed laser light. LiDAR, which stands for light detection and ranging measures the reflected pulses from target location with a sensor. LiDAR displays digital 3-D representations of the target to the user. LiDAR is also used for laser scanning and 3-D scanning for application such as automotive and mobile applications. These factors are expected to offer high market potential in the Asia Pacific countries.

 

The stringent government laws & regulation in regards to incorporation of safety systems in a vehicle is critical factor for market growth, in the recent years. Automotive LiDAR along with advanced driver-assistance system offer a full-proof collision avoidance system, which is consists of software and hardware interfaces. With reduction in the cost of hardware and addition of advanced front & rear cameras and radar is anticipated to drive demand for automotive LiDAR. Advent of cost-efficient software solution is estimated to offer an alternative source of revenue for service providers in automotive LiDAR industry.

 

The automotive LiDAR market is broadly categorized into two major segments based on end-user application such as advanced driver-assistance system (ADAS) and autonomous cars segment. The advanced driver-assistance system (ADAS) is considered as one of the fastest growing segment in the automotive LiDAR industry with substantial revenue generation in the last couple of years. The advanced driver-assistance system (ADAS) is further divided into two sub-segments such as Automatic Emergency Braking (AEB) and Adaptive Cruise Control (ACC). The Adaptive Cruise Control (ACC) sub-segment has witnessed massive growth, in the last few years, owing to the surging incorporation of automation technologies in the car driving and safety technologies.

 

This research report offers a comprehensive analysis of key elements of the Automotive LiDAR Market such as potential top key Manufacturers along with their strengths and weaknesses. The Automotive LiDAR Market report also comprises some useful strategies and scenario for the new players in the market. While forecasting the growth of the global Automotive LiDAR market, various statistical tools were utilized to get an accurate result of the Demographic data.

 

Avail complete report with TOC and List of Figures @ https://www.millioninsights.com/industry-reports/automotive-lidar-market

 

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