The Europe Automotive LiDAR Sensors Market would witness market growth of 31.5% CAGR during the forecast period (2023-2029).
The technology of solid-state sensors is utilized by the majority of manufacturers of autonomous vehicles. It utilizes a 4-dimensional approach that is able to detect the velocity of any object in addition to its position in a space that is composed of three dimensions. Because of these technical advancements, autonomous vehicles can now offer an accurate picture of the surrounding environment. These are just some of the chances the automotive sector can take advantage of.
The development of next-generation LiDAR sensors is a prominent trend in the market for LiDAR, and businesses are now conducting research and development on a variety of potential sensor designs. It is anticipated that the price of vehicle LiDAR sensors will drop significantly, despite the fact that their success is still being determined. Examples from throughout history demonstrate that the price of hardware may decrease in response to increased adoption and volume.
One of the fastest goals among the G7 nations is the UK's rapid switch to zero-emission cars and vans. From a corporate perspective, this is consistent with the "Transition to Zero-Emission Cars and Vans: 2035 Delivery Plan". All newly produced automobiles and vans must comply with zero-emission standards at the tailpipe by 2035. The proposed £2.8 billion plan seeks to increase demand for zero-emission vehicles by supporting vehicle phase-out dates. The increasing production of vehicles and the government's effort to increase the number of EVs on the road joined with the region's tight regulation regarding vehicle safety, will increase the requirement for vehicle safety technologies like LiDAR sensors and thus propel the market expansion in the region.
The Germany market dominated the Europe Automotive LiDAR Sensors Market by Country 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $379.5 Million by 2029. The UK market is anticipated to grow at a CAGR of 30.5% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 32.5% during (2023 - 2029).
Based on Type, the market is segmented into Time of Flight (ToF), and Frequency-Modulated-Continuous-Wave (FMCW). Based on Technology, the market is segmented into Solid-state, and Electro-mechanical. Based on Vehicle Type, the market is segmented into Internal Combustion Engine (ICE), Hybrid, and Battery Electric. Based on Image Type, the market is segmented into 2 Dimensional, and 3 Dimensional. Based on Application, the market is segmented into Semi-autonomous Vehicles, and Autonomous Vehicles. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Automotive LiDAR Sensors Market is Projected to reach USD 5.3 Billion by 2029, at a CAGR of 32.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH, Continental AG, Denso Corporation, Ouster, Inc., HELLA GmbH & Co. KGaA, First Sensor AG (TE Connectivity Ltd.), Texas Instruments, Inc., KUBOTA Corporation, Quanergy Systems, Inc. and LeddarTech Inc.
By Type
By Technology
By Vehicle Type
By Image Type
By Application
By Country
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