Home Technology Solid-State LiDAR Market Demand, Trends And Forecast to 2026

Solid-State LiDAR Market

Solid-State LiDAR Market Size, Share & Trends Analysis Report By Product Type (MEMS-Based Scanning, Optical Phased Arrays, Flash LiDAR), By End-User (Intelligent Machine Vision and Robotics, Assisted Surgery, Air Quality Monitoring, Aerial Drones, Autonomous Vehicles, Automation of Factory Robots) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Report Code: SRTE330DR
Study Period 2020-2032 CAGR 37.6%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD XX Billion
Forecast Year 2032 Forecast Year Market Size USD XX Billion
Largest Market North America Fastest Growing Market Europe

Market Overview

The global Solid-State LiDAR market size is growing at a CAGR of 37.6 % from 2016-2026.

Solid-state LiDAR is a remote sensing technology entirely built on a silicon chip that emits a laser pulse beam onto the object to define measurements. It evaluates the arrival time of the reflected beam by photodiodes with the receiving sensor. The applications of solid-state LiDAR include air quality monitoring, intelligent machine vision and robotics, 3D representation of objects, autonomous vehicle, and service robots in hospitals and other customer-oriented environments. The increasing popularity of autonomous vehicles and a great deal of investment in research and development to commercialize autonomous vehicle technology is foreseen to foster the demand for solid-state LiDAR Market. For instance, Blackmore Sensors and Analytics Inc. raised a funding of USD 3.5 million in 2015 to develop its Frequency Modulated Continuous Wave (FMCW) LiDAR engine and around USD 18 million of funding received from BMA and Toyota for instigating innovative solutions pursuant to LiDAR.

Embracement of 3D imaging technology, especially by the drone manufacturers for image sensors, standardization of interface technologies, and surging demand for new solutions for complex and intricate imaging needs may bolster the global solid-state LiDAR market. Some of the other factors boosting the solid-state LiDAR system for automotive applications are cumulative demand for automated tolling, speed enforcement, and monitoring the real-time traffic. Furthermore, the evolution of traditional LiDAR system into solid-state LiDAR technology is primarily driven by next-generation sensors, which exclude moving parts on the macro and micro scale facilitating low cost.

In January 2018, Innoviz technologies, an Israel based technology company, is involved in research and development of sensing solutions for automotive application, and also launched InnovizPro — a solid-state MEMS-based scanning LiDAR solution, that provides a long detection range of up to 150 meters. ZF Friedrichshafen AG is also involved in the development of new generation solid-state LiDAR sensor, which offers a complete 3D imaging of the vehicle’s environment and the precise sight of complex traffic situations. The technology plays a vital role in the implementation of complex driver assistance system chiefly for highly automated driving.

The global solid-state LiDAR market is projected to grow at a CAGR of 37.6% during the forecast period, 2019–2026.

Regional Analysis

Geographically, the global solid-state LiDAR market is studied across Europe, North America, Asia-Pacific, and Latin America and the Middle East & Africa (LAMEA).

Europe is expected to witness significant growth in the solid-state LiDAR market during the forecast period, 2019–2026. This is attributed to the rising consumer awareness regarding vehicle safety and inclination towards self-drive cars. For instance, in 2017, the death toll of road accidents in the European Union was round 25,000 in 2017. Increasing acceptance of safety and security standards by European automotive manufacturers is anticipated to boost the demand for solid-state LiDAR market. Prominent automotive manufacturers — Audi, BMW, Daimler, Porsche, and Volkswagen, as well as the world’s largest automotive suppliers — Bosch, Continental, and ZF, are headquartered in Germany. For instance, in March 2018, BMW i Ventures, a venture capital fund, which focuses on R&D of the company, announced to invest in Blackmore Sensors and Analytics, Inc., a leading developer of Frequency-Modulated Continuous Wave (FMCW) LiDAR.

North America holds the largest share in the solid-state LiDAR market. High demand for electric vehicles and rapid adoption of safety equipment aided by increased investment in research and development for electric vehicles and self-drive systems have cemented the prospective growth of solid-state LiDAR market. Cumulative demand for 3D imaging technology in the U.S. and Canada is further expected to drive the market growth. In 2015, Mercedes E350 was seen outfitted with Quanergy’s LiDAR devices at the Consumer Electronics Show in Las Vegas.

Asia-Pacific is expected to witness healthy growth in the solid-state LiDAR market during the forecast period due to the booming automotive sector and rising concern regarding vehicle safety. The burgeoning automotive industry in countries such as Taiwan, South Korea, Malaysia, and Thailand is expected to fuel regional market growth. Furthermore, rapid adoption of autonomous vehicles in Asia-Pacific, especially in China; underpinned by the advent of the ADAS market, is one of the crucial market drivers. For instance, Companies such as Sick Automatic Co., Ltd. and Hokuyo Automatic Co., Ltd., are firmly focused on the development and manufacture of robotics and vehicle automation. The Singapore- MIT Alliance for Research and Technology (SMART) is actively developing technologies for autonomous LiDAR vehicles.

The Latin America and the Middle East & Africa region is expected to witness steady growth in the solid-state LiDAR market, owing to the increasing mass vehicle production and demand for an efficient and convenient driving experience. The increasing urban population and the shift towards autonomous vehicles in this region are also expected to drive the market during the forecast period. Most companies are planning to enter this untapped region to increase their technical resources and enhance their customer base. For instance, in 2019, Quanergy signed a distribution partnership with Ingram Micro Brazil, which will help the company enter the South American market.

Report Scope

Report Metric Details
Segmentations
By Product Type
  1. MEMS-Based Scanning
  2. Optical Phased Arrays
  3. Flash LiDAR
By End-User
  1. Intelligent Machine Vision and Robotics
  2. Assisted Surgery
  3. Air Quality Monitoring
  4. Aerial Drones
  5. Autonomous Vehicles
  6. Automation of Factory Robots
Company Profiles Innoviz Infineon Technologies Quanergy Innovusion Continental AG LeddarTech Delphi Automotive AEye Benewake Cepton Luminar Velodyne LiDAR Robosense.
Geographies Covered
North America U.S. Canada
Europe U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Middle East and Africa UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA
LATAM Brazil Mexico Argentina Chile Colombia Rest of LATAM
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The microelectromechanical systems (MEMS) segment, among other product type segments, holds the largest market share in the Solid-State LiDAR market due to the expanding application areas of MEMS across various fields such as laser tracking on unmanned aerial vehicle and dynamic solid-state lighting. Giant companies such as BMW, Volvo, and Google are using LiDAR Sensor to ensure safe driving. It offers several other advantages for various industrial verticals that direct them toward its application. Some of the advantages are mentioned below

  • Improved sensitivity, reproducibility, and accuracy
  • Less expensive and require low power
  • Easy to modify the parts of a device as compared to its macro counterpart

For instance, Hoffman has developed a 360o scanning 2D MEMS scanner lidar with 60o of the azimuth angle in the EU projects of Minifaros. Innoviz technology has signed a partnership with BMW to manufacture its vehicle with Innoviz One system in upcoming models. Alibaba’s Cainiao Network also plans to use the MEMS LiDAR technology into its autonomous delivery vehicle called “G Plus” in partnership with RoboSense.  The advantage of MEMS technology is its precision down to nanometer level and exceptional scalability.

The automotive segment, among other end-use segments, holds the largest market share followed by Intelligent Machine Vision and Robotics and Aerial Drones. Increasing demand for passenger cars in conjunction with technological advancement within the purview of solid-state LiDAR technology is seminal for market growth. According to the International Organization of Motor Vehicle producers, around 70.4 million passenger cars were manufactured in the year 2018.

Market Size By Product Type

Top Key Players

Solid-State LiDAR Market Share of Key Players

Innoviz Infineon Technologies Quanergy Innovusion Continental AG LeddarTech Delphi Automotive AEye Benewake Cepton Luminar Velodyne LiDAR Robosense.

Frequently Asked Questions (FAQs)

What is the growth rate for the Solid-State LiDAR Market?
Solid-State LiDAR Market size will grow at approx. CAGR of 37.6% during the forecast period.
Some of the top industry players in Solid-State LiDAR Market are, Innoviz, Infineon Technologies, Quanergy, Innovusion, Continental AG, LeddarTech, Delphi Automotive, AEye, Benewake, Cepton, Luminar, Velodyne LiDAR, Robosense., etc.
In the Solid-State LiDAR Market, North America has established itself as the market leader with a significant market share.
The Solid-State LiDAR Market has seen the most substantial growth rate in Europe.
The global Solid-State LiDAR Market report is segmented as follows: By Product Type, End-User


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