China Automotive LiDAR Market Analysis: Over $9.6 Billion by 2032

Due to the rapid development of automatic driving technology, vehicle-mounted LiDAR, as one of the core sensors, has been receiving a lot of attention in the Chinese market, while vehicle-mounted LiDAR is a high-precision, high-frequency laser ranging technology that provides accurate environmental sensing capability for automatic driving systems.

LiDAR is the core key sensor of the automatic driving technology, which plays a very important role in the related field in these years. In the current market, many suppliers provide LiDAR sensors and software solutions for the market, at the same time, many car companies adopt high cost LiDAR solutions, and take the first step towards L3 and L4 level autonomous driving.

Lidar is called the eye of the machine, but also by transmitting laser and accepting the transmitting laser at the same time for signal processing, and then get the distance of the surrounding objects and other information of the active measurement device, currently used in a large number of unmanned field and the field of robotics.

Currently the development of the laser industry presents the trend of domestic and foreign ice and fire, on the one hand, because most of the foreign LIDAR companies are facing the market value of the bad news, once the first share of LIDAR Velodyne and Ouster announced a merger, on the other hand is due to the domestic LIDAR industry to obtain the favour of the capital, the speed of Tengjutron, Wo Sai technology, and other head of the industry, such as the launch of a number of head of the industry brand competition new products and obtain financing one after another.

Global LiDAR shipments in the ADAS market will grow from 200,000 units in 2020 to 3.4 million units in 2025, with a CAGR of 76.2%, and is expected to reach 26.6 million units by 2032. Global LiDAR sales in the advanced assisted driving systems market are estimated at $95 million in 2020 and are expected to exceed $9.6 billion by 2032.

The data show that in this year's 1-10 months of the Chinese market (excluding import and export) passenger car front standard equipped with LIDAR 74,200 units, while the same period last year less than 10,000 units equipped. And is expected in 2023 automotive LiDAR front-loading volume will be the probability of events.

From the global LiDAR market, North America accounted for about 45% of the overall market revenue, Europe accounted for 33% market share. Automotive LiDAR into the demand explosion period, the upstream optical components of the strongest certainty. On the basis of the substantial increase in the penetration rate of automotive electrification, automotive intelligence will soon enter into a high-speed explosive period.

In the next five years, the biggest marginal change in automotive intelligence will be the L3 level of autonomous driving penetration rate increase. the biggest change in the L3 level of autonomous driving programme is to increase the LiDAR as a key component of the multi-sensor programme, so it is expected that in 2023 on-board LiDAR track will enter a sustained period of high-speed growth.

The structure of China's automotive LiDAR industry chain includes upstream LiDAR chip and component suppliers, midstream LiDAR manufacturers, and downstream automobile manufacturers and autonomous driving solution providers. Upstream suppliers mainly provide core components such as laser transmitters, receivers, scanners, etc., while midstream manufacturers are responsible for LIDAR integration and production, and downstream customers apply LIDAR in self-driving vehicles.

Numerous domestic and foreign companies and brands exist in China's automotive LiDAR market. Internationally renowned brands such as Velodyne and Waymo have a certain degree of influence in the Chinese market, while domestic companies such as WoSai Technology and Huawei have also made important breakthroughs through independent R&D and innovation. These companies are competing fiercely in terms of technology R&D, product quality and production capacity in an effort to capture market share.

Technological innovation: With the continuous progress of autonomous driving technology, vehicle-mounted LiDAR will continue to improve in terms of performance, accuracy and reliability. Enterprises will increase technology R&D efforts to promote the innovation and application of LiDAR technology.

Cost reduction: At present, the cost of vehicle-mounted LiDAR is still an important factor restricting its large-scale commercialisation. In the future, companies will endeavour to reduce costs by improving production efficiency and adopting more economical materials to promote the popular application of vehicle-mounted LiDAR.

Multi-sensor fusion: In the automatic driving system, vehicle-mounted LiDAR will be fused with other sensors such as cameras and millimetre-wave radar to improve the accuracy and robustness of environment perception. Multi-sensor fusion will become an important trend in the development of vehicle-mounted LiDAR.

Promoted by regulations and policies: The government's support for autonomous driving technology will continue to strengthen, promoting the introduction of relevant regulations and policies. This will provide a strong guarantee and opportunity for the development of vehicle-mounted LiDAR market.

So it is said that China's vehicle-mounted LiDAR market is ushering in a period of rapid development. Under the background of expanding market scale, perfecting industry chain structure, and increasingly fierce competition pattern, enterprises should strengthen technological innovation, reduce costs, and expand application areas in order to be invincible in the fierce market competition. At the same time, the government and industry associations and all walks of life should work together to drive the healthy and sustainable development of China's automotive LiDAR industry.