Market Report

Lidar Market to Reach USD 6 Billion by 2024

Key Takeaways:
• The lidar market is on track for fast growth, driven by robotic vehicles
• Massive investments show high expectations for autonomous driving
• Yole expects the total lidar market to reach US $6 billion by 2024

Editor’s Note: Just how big are the “lidar markets”? Each Year, the French firm Yole publishes an exhaustive review of activities within the lidar marketplace. Here are some of the basics from their 2019 announcement, edited for length and clarity. A PDF of this article is available HERE.

Yole Graphic RevisedLyon, France, courtesy of Yole Développement (Yole):
The lidar market reached US $1.3 billion in 2018. For the second year, Yole Group of Companies has issued a comprehensive analysis of the lidar industry. Combining market, technology and IP data, the partners, Yole Développement, System Plus Consulting and Knowmade offer a wide collection of reports to get a better understanding of the industry’s evolution, challenges and opportunities.

With its Lidar for Automotive & Industrial Applications report, the company pursues its investigations to understand the latest technical challenges and the strategy of key players. Yole’s analysts identified strong investments in this sector. Competition is fierce and many announcements related to innovative technologies and investments have been made. From its side, Knowmade announced many new players within the lidar IP landscape: Since 2010, Knowmade’s analysts have witnessed increasing amounts of patenting activity. The swift development of autonomous vehicles has opened many opportunities, with the established and strongest IP holders increasingly challenged by new entrants in the marketplace.

Yole expects the total lidar market to reach US$6 billion by 2024 with 70% of the total market dedicated to automotive applications. Highly and fully automated driving will become a reality in the very near future. Driven by lower production costs and the emergence of new technologies, lidar is becoming a key component for automotive applications.

Yole Group of Companies is involved in the analysis of technical breakthroughs dedicated to automotive applications. Based on a combination of their expertise and knowledge, analysts help the automotive players understand markets, follow technology trends and develop their business. They are able to propose a global analysis taking into account all current and emerging technologies and market updates. As an example, in both technology & market reports, lidar for Automotive & Industrial Applications and Radar & Wireless for Automotive: Market and Technology Trends, Yole proposes an alternative scenario taking into account the whole sensing technologies: lidar, radar and camera. Technological requirements for autonomous driving are still blurred today and might evolve in a new future to more sensors, different types of sensors and much more computing capabilities.

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