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LiDAR Market Share

Report ID: GMI421
Published Date: Aug 2024
Report Format: PDF

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LiDAR Market Share

Key players in the LiDAR industry are implementing comprehensive strategies to secure their competitive edge. They are enhancing their product portfolios with cutting-edge technologies, such as 1550nm LiDAR, and integrating AI for superior data processing. Forming strategic partnerships and collaborations with automotive manufacturers and tech firms is pivotal for broadening their market reach and spurring innovation. Furthermore, these companies are channeling substantial investments into R&D, aiming to spearhead technological advancements and drive down costs. By capitalizing on regional strengths and tailoring their approach to local market demands, they are effectively penetrating a variety of geographies. Through bolstering manufacturing capabilities and nurturing industry partnerships, these key players are positioning themselves to capture a significant share of the expanding market.

Some of the other major players in the market are Valeo, Continental AG, AEye, Cepton, RIEGL Laser Measurement Systems, Teledyne Optech, Leica Geosystems, Faro Technologies, Trimble.

LiDAR Market Companies

Major players operating in the LiDAR industry are:

Luminar Technologies
Quanergy Systems
Innoviz Technologies
Aeva
Ouster

Authors: Suraj Gujar, Rutvij Kshirsagar

Frequently Asked Questions (FAQ) :

Market Size for LiDAR was worth USD 1.5 billion in 2023 and will grow at 18% CAGR between 2024 and 2032 due to advancements in technology, increasing demand for precise mapping, along with rising applications in autonomous vehicles and geographic information systems (GIS).

LiDAR industry from the autonomous vehicles segment will record 20.5% CAGR through 2032, driven by the critical role of LiDAR in enabling accurate and reliable perception systems for self-driving cars.

North America industry recorded 28% share in 2023, attributed to its early adoption of advanced technologies and significant investments in infrastructure development.

Prominent players operating in the industry are Luminar Technologies, Quanergy Systems, Innoviz Technologies, Aeva, and Ouster, among others.