PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477158
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477158
Automotive LiDAR System-On-Chip (SOC) Market size was valued at USD 28,545 Million in 2023, expanding at a CAGR of 22.5% from 2024 to 2032.
The Automotive LiDAR System-On-Chip (SOC) Market focuses on the development and integration of LiDAR sensor technology into a single chip, enabling compact and cost-effective solutions for autonomous driving and advanced driver assistance systems (ADAS). Driving factors in the Automotive LiDAR SOC Market include the miniaturization of LiDAR sensors and increased integration with other sensor technologies such as radar and cameras. However, challenges such as high manufacturing costs, limited range, and resolution, pose restraints to market growth. Growing demand for autonomous vehicles, smart transportation infrastructure, and safety-critical applications, driving innovation and investment in LiDAR SOC technology, creating opportunities for the market.
Automotive LiDAR System-On-Chip (SOC) Market- Market Dynamics
Rapid technological advancement in lidar in the automotive industry
Rapid technological advancement in LiDAR within the automotive industry is reshaping vehicle safety and autonomy. LiDAR systems, which utilize laser pulses to measure distances and create precise 3D maps of surroundings, are undergoing rapid innovation, leading to enhanced accuracy, range, and cost-effectiveness. According to the International Energy Agency (IEA), global electric car sales surpassed 3 million units in 2020, with EV market share increasing steadily. These adoptions are crucial for the development of autonomous vehicles (AVs) and advanced driver assistance systems (ADAS), enabling vehicles to perceive their environment with greater clarity and reliability. With automotive manufacturers and technology companies investing heavily in LiDAR research and development, the automotive industry is witnessing a transformative shift towards safer and more efficient mobility solutions.
Automotive LiDAR System-On-Chip (SOC) Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 22.5% over the forecast period (2024-2032)
Based on Technology Type segmentation, MEMS (Micro-Electro-Mechanical Systems) LiDAR was predicted to show maximum market share in the year 2023
Based on Range segmentation, long-range LiDAR technology was the leading type in 2023
Based on Vehicle Type segmentation, Passenger Cars was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Automotive LiDAR System-On-Chip (SOC) Market is segmented based on Technology Type, Range, Vehicle Type, Application, and Region.
The market is divided into three categories based on Technology Type: MEMS LiDAR employs miniature moving parts for environment scanning and distance measurement, while OPA LiDAR manipulates light waves to steer laser beams without mechanical movement. Flash LiDAR captures a 3D image instantly with a single light flash, and Mechanical LiDAR relies on rotating mirrors or other mechanical components for scanning.
The market is divided into three categories based on Range: Short-range LiDAR is tailored for proximity applications, covering distances up to a few tens of meters. Medium-range LiDAR extends coverage to several hundred meters, suitable for various detection needs. Long-range LiDAR is adept at scanning objects and obstacles over significant distances, surpassing several hundred meters.
Automotive LiDAR System-On-Chip (SOC) Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
North America stands out with its strong automotive sector and technological innovation hubs, particularly in Silicon Valley, fostering significant adoption of LiDAR technology. Europe follows suit, propelled by stringent safety regulations and a focus on autonomous vehicle development. The Asia Pacific region, led by countries like China, Japan, and South Korea, exhibits rapid growth due to the expanding automotive market and government support for electric and autonomous vehicles. Moreover, the region's manufacturing prowess and increasing investments in LiDAR technology contribute to market expansion. Latin America and the Middle East & Africa regions also present emerging opportunities, albeit influenced by factors like economic stability and regulatory frameworks.
Companies like Velodyne Lidar, Innoviz Technologies, and Luminar Technologies are notable players, known for their advanced LiDAR solutions catering to the automotive sector. Additionally, established semiconductor manufacturers such as Texas Instruments and Infineon Technologies are expanding their presence in the market by offering LiDAR SOC solutions tailored for automotive applications. Moreover, startups and emerging players like Ouster and Aeva are disrupting the market with novel LiDAR technologies and compact SOC designs. Collaborations between automotive OEMs and LiDAR manufacturers are also prevalent, driving the integration of LiDAR technology into autonomous vehicle platforms.
In November 2022, Aeva Inc. broadened its global footprint by recruiting new teams in Germany, India, and Thailand, and by appointing industry expert Clement Kong to lead sales efforts in the Asia-Pacific region. These additional teams will support sales, technological innovation, and manufacturing, accelerating the evolution of Aeva Inc.'s cutting-edge 4D LiDAR technology and enhancing customer engagement across Europe and Asia-Pacific.
In May 2022, SiLC Technologies, Inc. partnered with AutoX Inc., a prominent player in China's autonomous taxi sector, to integrate SiLC's Eyeonic Vision Sensor into its fleet of self-driving taxis.
GLOBAL AUTOMOTIVE LIDAR SYSTEM-ON-CHIP (SOC) MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Aeva, Inc.
AEye, Inc.
Baraja Pty Ltd.
Blickfeld GmbH
Cepton Technologies, Inc.
Innoviz Technologies, Ltd.
LeddarTech Inc.
Luminar Technologies, Inc.
Ouster, Inc.
Phantom Intelligence Inc.
Quanergy Systems, Inc.
RoboSense (Suteng Innovation Technology Co., Ltd.)
SOS LAB, Inc.
Valeo SA
XenomatiX NV
Others