Asia Pacific Automotive LiDAR Market Size More Than Triples at Robust CAGR of 23.86% to Reach USD 368.62 Million by 2029

Published | 31 October 2023

Asia-Pacific automotive LiDAR market is flourishing because of the increasing adoption of advancements in LiDAR technology by the thriving global automotive and transportation sector.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia-Pacific automotive LiDAR market size at USD 102.19 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Asia-Pacific automotive LiDAR market size to grow at a robust CAGR of 23.86% reaching a value of USD 368.62 million by 2029. Major growth drivers for the Asia-Pacific automotive LiDAR market include an increasing interest in autonomous vehicles, advanced driver assistance systems (ADAS), and safety applications. Major countries in the region, especially China and Japan, are actively promoting the development of autonomous vehicles, further spurring the demand for LiDAR. Additionally, the expanding use of drones in aerospace, defense, and automation is fueling investment in drone technology. LiDAR systems are finding applications in defense, geological surveys, pollution monitoring, transportation, energy, and construction, often integrated with drones. Notably, India and China are set to invest around USD 7 billion in drone technology for defense during the forecast period. However, high cost of LiDAR systems and limited testing and validation are anticipated to restrain the overall market growth during the period in analysis.

Asia-Pacific Automotive LiDAR Market – Overview

LiDAR (Light Detection and Ranging)-based mapping solutions, known for their versatility in both stationary and mobile applications, are gaining traction across multiple industries, particularly in engineering, construction, environmental monitoring, and exploration. This surge in adoption underscores the technology's effectiveness and its increasing demand. The Asia-Pacific automotive LiDAR market, including major countries, such as China, Japan, India, South Korea, and Australia, pertains to the use of LiDAR technology within the automotive sector. LiDAR, employing laser pulses for distance measurement and 3D mapping, is primarily employed in autonomous vehicles and advanced driver assistance systems (ADAS). The Asia-Pacific automotive LiDAR market encompasses LiDAR sensor manufacturers, automotive companies, tech providers, and related services, with driving factors including government initiatives, autonomous vehicle advancements, and the wider integration of LiDAR for enhanced vehicle perception and safety. Furthermore, the influence of LiDAR extends into sectors like aerospace, defense, transportation, and construction, enhancing operational efficiency and safety standards.

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Impact of COVID-19 on Asia-Pacific Automotive LiDAR Market

COVID-19 pandemic adversely affected the Asia-Pacific automotive LiDAR market. Lockdowns across the world disrupted the global supply chain, affecting both the export of automotive parts and the manufacturing process. These disruptions led to delays in LiDAR system production and availability. Additionally, the high cost of LiDAR systems posed a significant challenge to their adoption. However, amidst these challenges, some key players, like Ford and Baidu, recognized the importance of addressing cost barriers. They invested in research and development to create more affordable LiDAR systems, aiming to make this advanced technology more accessible and foster its adoption in the automotive sector.

Asia-Pacific Automotive LiDAR Market – By Application

On the basis of application, the Asia-Pacific automotive LiDAR market is split into Semi-autonomous and Autonomous segments. The autonomous segment is expected to hold a higher share in the Asia-Pacific automotive LiDAR market by application during the forecast period, due to the region's increasing emphasis on the development of autonomous vehicles. As governments and automotive manufacturers invest significantly in autonomous technology to enhance road safety and transportation efficiency, the LiDAR technology plays a pivotal role in enabling these vehicles to accurately perceive and navigate their surroundings, providing a critical 3D map of the environment for real-time decision-making and obstacle avoidance. Moreover, the rapid urbanization and increasing traffic congestion in the Asia-Pacific region make autonomous vehicles with advanced LiDAR systems an attractive solution to address these challenges, further propelling the demand for LiDAR technology in the automotive market's autonomous segment.

Competitive Landscape

Major players operating in the Asia-Pacific automotive LiDAR market include Topcon Corporation, Denso Corporation, Leishen Intelligent Systems, FARO SINGAPORE PTE. LTD, Trimble Inc, SICK AG, RoboSense, 3D Laser Mapping Inc., and Leica Geosystems Inc. (Hexagon). To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Asia-Pacific Automotive LiDAR Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Asia-Pacific Automotive LiDAR Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Asia-Pacific Automotive LiDAR Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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