“The market for LiDAR in automotive and industrial applications is expected to reach US$5.7 billion (€4.80 billion) in 2026, showing a significant 21% CAGR between 2020 and 2026,” asserts Alexis Debray, PhD., senior technology & market analyst, photonic, sensing & semiconductor at Yole Developpement.
“In 2020, the LiDAR in ADAS represented only 1.5% of the automotive and industrial LiDAR market. But the ADAS proportion is expected to reach 41% in 2026.”
Therefore, the market research & strategy consulting company, Yole announces an impressive 111% CAGR during the 2020-2026 period, for this market segment. In that context, it will reach a market size of US$2.3 billion (€1.94 billion).
Since the invention of 3D real-time LiDAR by David Hall from Velodyne in 2005, more than 80 LiDAR companies have been established, reminds Yole in its report. Many of them have bet on new technologies. This has resulted in high technological diversity in the LiDAR landscape.
“Despite this great diversity, the oldest technologies are still representing most design wins for the automotive industry,” explains Pierrick Boulay, senior technology & market analyst in solid-state lighting and lighting systems at Yole.
And he adds, “Considering the LiDAR wavelength, 1550nm is less dangerous to the human eye than 905nm and promises integration through the silicon platform. However, 905nm represents 65% of design wins for the automotive industry.”
Yole has now released its annual LiDAR technology & market report, titled LiDAR for Automotive & Industrial Applications. With this 2021 edition, Yole’s analysts propose an update of their market analysis by adding new focus on the supply chain, industrial applications, software & computing for ADAS, key LiDAR companies as well as additional reverse costing analyses.