Automotive Lidar Market Worth $8,611 Million By 2030 - Exclu...| MENAFN.COM

Saturday, 26 November 2022 11:00 GMT

Automotive Lidar Market Worth $8,611 Million By 2030 - Exclusive Report By Marketsandmarkets™'


(MENAFN- PR Newswire)

Europe is expected to have significant growth in the Automotive LiDAR Market during the forecast period. Stringent emission regulations, which led to an increase in sales of electric vehicles, paired with growing demand for premium vehicles are expected to drive the demand for automotive LiDAR in Europe. Additionally, the presence of OEMs such as Volkswagen (Germany), Daimler (Germany), Renault (France), and AB Volvo (Sweden) offers growth opportunities for automotive LiDAR in the region. European automotive enterprises also dominate the global automotive landscape, accounting for almost 50% of the R&D spending, led by BMW, Continental, and Daimler. All these parameters are expected to augment revenues for the Automotive LiDAR Market in the European region during the forecast period.

Key Market Players

The Automotive LiDAR Market
is dominated by major players including Valeo (France), DENSO Corporation (Japan), Innoviz Technologies Ltd. (Israel), Velodyne Lidar, Inc. (US), and Luminar Technologies Inc. (US). These companies offer automotive LiDAR sensors and have strong distribution networks at the global level. These companies have adopted extensive expansion strategies; and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in the automotive LiDAR market.

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