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How valuable are lidar sensor market?

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Lidar sensors are the indispensable key in the automated driving market. It is meant for autonomous or semi-autonomous vehicles. Mostly the automated cars are dependent on laser radars.

The Lidar sensors are similar to radars used in air traffic. Lidar sensor uses laser beams and the reflection results in a 3D light image. It is reminiscent of the artwork by the French impressionist Claude Monet.

The main reason for the lidar sensors is the resolution that is higher than the radar and it works better than cameras. The laser beam reflection is a three-dimensional light image.

The automotive lidar sensors are for enhancing the vehicle navigation capabilities by detecting and avoidance of obstacles en route. The technology is mainly used for detection and survey systems for the evaluation of an object’s nearness.

It mainly consists of a laser, a scanner, and a specialized GPS receiver. It is considered one of the important features in the vision for autonomous cars and a 3D mapping of the vehicle’s surroundings.

The lidar market size is USD 3.4 billion by 2026. The reason for the growth of lidar is the need generated by the automotive giants, SWIR-based design opportunities in the long term, and shifts in the technology adoption of solid-state, MEMS, flash LIDAR, and other LiDAR-based technologies to be used in sensor fusion.

The government initiatives to encourage LiDAR drones in large-scale surveys. The reliability and the efficiency of the LiDAR sensors are increasing with time. The major driving factors are the purpose for its use in UAVs and the emergence of 4D LiDAR.

The APAC region is considered to be growing with a high CAGR from 2021 to 2026. India, China, and Japan are the main region for the LiDAR sensors. The key driver in the market is the growth of better sensors in the automotive market and the increase of administrative regulations mandating such installations (AEB braking systems installations in the US and the UK)

The LiDAR sensors are effective in complete darkness. The key players in the LiDAR sensor market are Robert Bosch GmbH, Continental AG, Denso Corp., First Sensor AG, Hella KGaA Hueck & Co., Leddar tech., Novariant, Inc., Quanergy Systems, Inc., and Velodyne LiDAR, Inc.

The market demand for LiDAR technology in automobile applications also improves the development of advanced driver assistance systems. In the next decade, the autonomous vehicle demand is soaring with driving demand for LiDAR security sensors.

The LiDAR sensor observed its demand in electronic gadgets such as mobile phones, and tablets. One such example is Apple being the first company to integrate LiDAR technology in its tablets. LiDAR sensors can operate with their photons at a distance of 5 meters. They are in demand in the electronics industry.

The challenges of LiDAR technology are its high cost. It has been challenged by Innoviz (lidar players) to offer low-cost technology. The company is focusing on a lower-power laser for a picture based on the time it takes for the laser light to come back after reflecting off an object.

And even the company is ready to take on the challenge of providing a resource equivalent to a high-cost LiDAR product. The target region is known to be dominant in North America with a 26% market share in 2020.

The other automotive manufacturers and smart sensing technology integrators such as Google Inc., Uber, and Tesla are focused on self-driving vehicles.

Also in the market domain, China cannot be avoided due to its production of more than 25% of LiDAR sensors. Hence China is considered one of the powerful influences when it comes to LiDAR sensor technology.

Uber is also involved in air taxis to revolutionize the automotive industry with airborne LiDAR sensors and Dominos to start with drone pizza delivery and autonomous vehicle delivery in the USA.

Well, it is interesting to see how technology can be used in the food industry. And it is not just automotive companies but the extension of the technology in various segments and expanding the market on a global scale.

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