Artificial Intelligence
Worldwide Automotive LiDAR Industry to 2030 – Featuring GM, Trimble, Teledyne Optech and FARO Technologies Among Others
Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) — The “Automotive LiDAR Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” report has been added to ResearchAndMarkets.com’s offering.
The automotive LiDAR market is anticipated to grow at a compound annual growth rate (CAGR) of 23% during the forecast period of 2022 to 2030.
Increasing investments in LiDAR start-ups by automotive giants, is opening opportunities for technological shifts with the adoption of solid-state LiDARs. These opportunities are anticipated to boost the market growth. The technological capabilities of LiDARs and dropping cost have significantly expanded its application. Autonomous vehicles that are the future of automotive industry hold significant potential for use of LiDAR.
LiDAR Advantageous Over Camera Based Systems
In comparison to systems based on cameras, LiDAR has a number of distinct advantages. LiDAR gives a three-dimensional perspective of the world that is significantly more realistic and accurate than the view that is provided by cameras, which only provide a flat depiction of the environment in a two-dimensional form.
Additionally, because it generates its own light, LiDAR is unaffected by low-light conditions and may continue to function normally. It has excellent night vision and can see objects just as well as it can during the day. On the other hand, camera-based systems require an adequate amount of light in order to perform at their peak, and thus are not always reliable when used at night.
Optical illusions and the inability to produce accurate distance measurements are two additional variables that can hinder the capacity of a camera to see. Additionally, in comparison to a LiDAR sensor, a camera requires more computer power and, as a rule, operates at a higher temperature. When it comes down to it, an ADAS system or an autonomous vehicle will benefit the most from using LiDAR and camera-based systems in conjunction with one another to monitor the environment around the vehicle.
Expanding Applications in Automotive Segment
Additionally, LiDAR is able to succeed where other sensors fail to do so. For instance, radar can be used to identify items that are in close proximity to a vehicle, and it can also ascertain how far away these objects are and how quickly they are travelling. Because of this, automobile manufacturers use radar for parking sensors, blind spot monitors, and adaptive cruise control.
However, these sensors struggle when it comes to detecting the exact position, size, and shape of an object, elements that are essential for self-driving features such as pedestrian, cyclist, and animal detection. Radar, on the other hand, performs admirably in conditions of fog and other adverse weather, but LiDAR has difficulty in these environments.
Reducing Prices is The Key Motivator of Increasing LiDAR Applications
The price of a LiDAR sensor used to be around $ 50,000 to $75,000; plummeted to $10, 000 and lower. Going further LiDAR prices are expected to drop as low as $500 by the end of 2030. Some companies have already developed low priced LiDAR vehicle sensors ranging from $500 to $1000.
Despite the fact that costs have been a factor in keeping sensors off of current vehicles, LiDAR companies like Argo AI are partnering with manufacturers like Ford and Volkswagen to produce some commercial-grade self-driving vehicles that incorporate onboard LiDAR. Volkswagen intends to conduct self-driving van tests in Germany, utilising the LiDAR technology developed by Argo AI. The company’s ultimate goal is to introduce a commercial delivery and micro-transit service in Germany by the year 2025. Ford has partnered with Volkswagen to develop electric vans and technologies for driverless vehicles.
Application of LiDAR to all Ranges of Vehicles is Still Emerging
Although there have been developments that suggest the technology could be used in the trucking industry, it is likely that for the time being it will be used for fleets of robo-taxis or delivery vehicles. However, there have been developments that suggest the technology could be used in the trucking industry.
Limited Technical Capabilities Calls for Focused R&D Initiatives
Sensors can have trouble distinguishing between things that are comparable in size and shape, which means that threats and non-threats can be mistaken with one another. This can lead to serious consequences. The level of security provided by LiDAR is lower when compared to the level of security provided by genuine images captured by a camera. Artificial Intelligence (AI) and machine learning are not inherently present in LiDAR. The resilience of radar systems in adverse weather conditions including rain, fog, and snow is one of the systems’ most significant advantages. Under these kinds of atmospheric circumstances, LIDAR typically operates at a lower level of effectiveness in comparison to radars.
Laser Scanners Market to Emerge as Most Lucrative Opportunity Segment
In 2021, laser scanners accounted for the largest part of the market. It is anticipated that the laser scanners segment will continue to retain the dominant position during the forecast period of 2022 to 2030. The widespread use of laser scanners that are capable of transmitting and detecting information by making use of laser pulses is the primary cause that is contributing to this expansion.
4D LiDAR Sensors to Grow at the Fastest Pace
It is anticipated that advancements in 4D LiDAR technology would account for the largest growth rate during the projection period. It is anticipated that the market for 4D LiDAR would expand at the highest CAGR during the forecast period of 2022 to 2030. This expansion can be ascribed to the widespread use of 4D LiDAR in a variety of applications in including self-driving vehicles, and other types of autonomous systems.
Mechanical LiDAR Sector to Dominate Market Revenues
It is anticipated that the segment of the mechanical LiDAR market that held the bigger market share in 2021 and will continue to hold that position throughout the forecast period. This is due to the widespread use of mechanical LiDAR in a variety of applications in mapping.
A large field of view (FOV) that is typically 360 degrees can be achieved with mechanical LIDAR by utilising high-grade optics and a rotating assembly. The mechanical component results in a bulky implementation, but it offers a high signal-to-noise ratio (SNR) over a large field of view (FOV) (although this has also been shrinking). Since solid-state LIDAR does not have any spinning mechanical components and has a smaller FOV, it is more cost effective. An FOV that is comparable to that of mechanical LIDAR can be achieved by using numerous channels at the front, back, and sides of a vehicle and fusing the data from those channels.
ADAS Segment to Dominate as AV Sets off in Future
Businesses, who have much smaller volumes of automobiles (less than 5 million per year as opposed to the more than 100 million cars sold each year to individuals), are the target markets for fully autonomous vehicles. Automotive Original Equipment Manufacturers (OEMs) were ill-prepared to compete in the market for complete autonomy and saw the potential to add limited autonomy capabilities to their cars that can offer comfort, free time, and safety to a bigger client base. Because of this, many LiDAR businesses have shifted their focus to addressing L2 and L3 autonomy.
Companies like Valeo (Mercedes), Innoviz (BMW), Luminar (Volvo), Cepton (General Motors), Ibeo (Great Wall Motors), and Innovusion have recently made announcements on their products (Nio). There has also been a solidification of partnerships with automotive Tier 1 suppliers (Aeye-Continental, Baraja-Veoneer, Cepton-Koito, Innoviz-Magna). Key Companies in this segment include The LiDAR market was dominated by Leica Geosystems AG (Sweden), Trimble, Inc. (US), Teledyne Optech (Canada), FARO Technologies, Inc. (US) and RIEGL Laser Measurement Systems GmbH (Austria).
North America Remains as the Global Leader
The overall market for LiDAR was led by North America as of the year 2021, followed by Europe and the Asia Pacific region in that order. The region accounted for more than 37% of the total revenue generated by the worldwide LiDAR market in 2021 and is predicted to experience robust expansion growth during the forecast period. The ongoing research and expenditures that are being made in order to build sophisticated LiDAR systems have been critical in pushing the uptake of LiDAR systems in North America. On the other side, it is projected that Asia Pacific will record the most growth during the period of time spanning from 2022 to 2030. It is anticipated that demand from nations such as India and China would play a significant role in expanding the LiDAR market.
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Automotive LiDAR market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Automotive LiDAR market?
- Which is the largest regional market for Automotive LiDAR market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Automotive LiDAR market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Automotive LiDAR market worldwide?
Key Topics Covered:
1. Preface
2. Executive Summary
3. Automotive LiDAR Market: Business Outlook & Market Dynamics
3.1. Introduction
3.2. Global Automotive LiDAR Market Value, 2020 – 2030, (US$ Million)
3.3. Key Trends Analysis
3.4. Market Dynamics
3.4.1. Market Drivers
3.4.2. Market Restraints
3.4.3. Key Challenges
3.4.4. Key Opportunities
3.5. Impact Analysis of Drivers and Restraints
3.6. See-Saw Analysis
3.7. Attractive Investment Proposition
3.8. Porter’s Five Force Model
3.8.1. Supplier Power
3.8.2. Buyer Power
3.8.3. Threat Of Substitutes
3.8.4. Threat Of New Entrants
3.8.5. Competitive Rivalry
3.9. PESTEL Analysis
3.9.1. Political Landscape
3.9.2. Economic Landscape
3.9.3. Technology Landscape
3.9.4. Legal Landscape
3.9.5. Social Landscape
3.10. Competitive Landscape
3.10.1. Market Positioning of Key Automotive LiDAR Market Vendors
3.10.2. Strategies Adopted by Automotive LiDAR Market Vendors
4. Automotive LiDAR Market: By Technology, 2020-2030, USD (Million)
4.1. Market Overview
4.2. Growth & Revenue Analysis: 2021 Versus 2030
4.3. Market Segmentation
4.3.1. 2D
4.3.2. 3D
4.3.3. 4D
5. Automotive LiDAR Market: By Component, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Laser Scanner
5.3.2. Navigation and positioning systems
5.3.3. Others
6. Automotive LiDAR Market: By Type, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Solid-state
6.3.2. Mechanical
7. Automotive LiDAR Market: By Installation Type, 2020-2030, USD (Million)
7.1. Market Overview
7.2. Growth & Revenue Analysis: 2021 Versus 2030
7.3. Market Segmentation
7.3.1. Airborne
7.3.2. Ground-based
8. Automotive LiDAR Market: By Range, 2020-2030, USD (Million)
8.1. Market Overview
8.2. Growth & Revenue Analysis: 2021 Versus 2030
8.3. Market Segmentation
8.3.1. Short
8.3.2. Medium
8.3.3. Long
9. Automotive LiDAR Market: By Level of Automation, 2020-2030, USD (Million)
9.1. Market Overview
9.2. Growth & Revenue Analysis: 2021 Versus 2030
9.3. Market Segmentation
9.3.1. Advanced Driver Assistance Systems (ADAS)
9.3.1.1. Level 1 (Driver Assistance)
9.3.1.2. Level 2 (Partial Automation)
9.3.1.3. Level 2+ (Advanced Partial Automation)
9.3.1.4. Level 3 (Conditional Automation)
9.3.2. Autonomous Vehicles (AV)
9.3.2.1. Level 4 (High Automation)
9.3.2.2. Level 5 (Full Automation)
10. Automotive LiDAR Market: By Automotive Type, 2020-2030, USD (Million)
10.1. Market Overview
10.2. Growth & Revenue Analysis: 2021 Versus 2030
10.3. Market Segmentation
10.3.1. Passenger Vehicles
10.3.2. Sport Utility Vehicles
10.3.3. Multi Utility Vehicles
10.3.4. Commercial Taxis and others
10.3.5. Trucks
10.3.6. Agricultural Vehicles
10.3.7. Buses
10.3.8. Others
11. North America Automotive LiDAR Market, 2020-2030, USD (Million)
12. UK and European Union Automotive LiDAR Market, 2020-2030, USD (Million)
13. Asia Automotive LiDAR Market, 2020-2030, USD (Million)
14. Latin America Automotive LiDAR Market, 2020-2030, USD (Million)
15. Middle East and Africa Automotive LiDAR Market, 2020-2030, USD (Million)
16. Company Profiles
16.1. Mercedes
16.1.1. Company Overview
16.1.2. Financial Performance
16.1.3. Product Portfolio
16.1.4. Strategic Initiatives
16.2. BMW
16.2.1. Company Overview
16.2.2. Financial Performance
16.2.3. Product Portfolio
16.2.4. Strategic Initiatives
16.3. Volvo
16.3.1. Company Overview
16.3.2. Financial Performance
16.3.3. Product Portfolio
16.3.4. Strategic Initiatives
16.4. GM
16.4.1. Company Overview
16.4.2. Financial Performance
16.4.3. Product Portfolio
16.4.4. Strategic Initiatives
16.5. Leica Geosystems AG (Sweden)
16.5.1. Company Overview
16.5.2. Financial Performance
16.5.3. Product Portfolio
16.5.4. Strategic Initiatives
16.6. Trimble, Inc. (US)
16.6.1. Company Overview
16.6.2. Financial Performance
16.6.3. Product Portfolio
16.6.4. Strategic Initiatives
16.7. Teledyne Optech (Canada)
16.7.1. Company Overview
16.7.2. Financial Performance
16.7.3. Product Portfolio
16.7.4. Strategic Initiatives
16.8. FARO Technologies, Inc
16.8.1. Company Overview
16.8.2. Financial Performance
16.8.3. Product Portfolio
16.8.4. Strategic Initiatives
16.9. RIEGL Laser Measurement Systems GmbH
16.9.1. Company Overview
16.9.2. Financial Performance
16.9.3. Product Portfolio
16.9.4. Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/7zmv0o
Meta description : Explore IG Canada’s advanced trading platform, educational resources, and robust security features. Achieve your trading goals with the innovative tools.
NOTTINGHAM, England, April 25, 2024 /PRNewswire/ — IG Canada, a premier online trading platform, is pleased to announce significant enhancements to its trading technology, designed to empower both novice and experienced traders with superior tools and resources. This development is part of IG Canada’s commitment to providing the best trading experience in the Canadian market.
IG Canada has upgraded its platform with advanced features that streamline trading processes and improve the accuracy of trade execution. These enhancements include customizable charts, a wider range of indicators, and improved mobile access, ensuring traders can operate efficiently from anywhere at any time.
Recognizing the importance of education in trading success, IG Canada has expanded its educational resources. The brokerage now offers a comprehensive learning center featuring webinars, tutorials, and articles that cater to various skill levels. These resources are designed to help traders develop robust trading strategies and improve their market knowledge.
Security remains a top priority for IG Canada. The latest updates include enhanced encryption and multi-factor authentication to protect client data and funds. These security measures provide peace of mind for traders, knowing their investments are safeguarded against potential threats.
IG Canada is a leading online brokerage that provides trading services across multiple asset classes, including forex, stocks, commodities, and indices. With a focus on innovation and customer service, IG Canada is committed to helping Canadian traders achieve their investment goals through a transparent and efficient trading environment.
In addition, IG Canada is committed to engaging with the community through upcoming webinars, live events, and partnerships with local financial experts. These initiatives are designed not only to support the growth and education of the clients but also to foster a stronger, more connected trading community in Canada.
Press Contact:Contact Name: Timothy C. SherwinEmail: [email protected] Phone: +447 441425053
View original content:https://www.prnewswire.co.uk/news-releases/ig-canada-announces-enhanced-trading-platform-for-enhanced-user-experience-302127189.html
Artificial Intelligence
Sentrycs Now Part of the UK National Protective Security Authority Catalog of Security Equipment
This inclusion into the NPSA CSE marks a significant milestone in the company’s commitment to enhancing national and international airspace security and to leading the C-UAS market toward multi-layer strategy optimization and excellence.
TEL-AVIV, Israel, April 25, 2024 /PRNewswire/ — Sentrycs, a leading innovator in adaptive counter-drone solutions, is proud to announce its inclusion in the prestigious UK National Protective Security Authority Catalogue of Security Equipment (NPSA CSE).
Following a rigorous assessment process, Sentrycs’ cutting-edge Counter Unmanned Aerial Systems (C-UAS) solution has met the high standards set by the NPSA for Detection, Tracking, and Identification (DTI). The testing, conducted at the NPSA’s designated testing facilities in August 2023, rigorously evaluated the Sentrycs system against the NPSA’s DTI Testing and Evaluation Standard v3.1.
Sentrycs elected to be assessed under Configuration D as a 3D system with Ground Control Station (GCS) detection capability and platform identification capability, which is the most demanding test scenario with the highest number of scored parameters.
The Sentrycs system demonstrated exceptional capabilities in various security scenarios, showcasing its robustness in detecting and tracking with high accuracy and zero false alarms. The system’s innovative use of cyber techniques to extract data from targets and its streamlined human-machine interface were especially noted for their efficiency and ease of use.
“Our team is proud to have Sentrycs recognized by the UK National Protective Security Authority,” said Yoav Zaltzman, CEO of Sentrycs. “Being listed in the CSE is not just an honor; it’s a testament to our technology’s reliability and effectiveness in contributing to the ever-changing airspace security landscape.”
Sentrycs’ technology is now accessible through the NPSA CSE, providing security practitioners with verified solutions that meet the UK’s rigorous security standards. This inclusion not only underscores Sentrycs’ role in advancing security technology but also enhances its visibility and credibility on a global stage.
For more details on Sentrycs’ solutions and their impact, visit www.sentrycs.com.
For further information regarding the NPSA and the Catalog of Security Equipment, please visit the NPSA’s official website.
About Sentrycs
Sentrycs is a leader in adaptive counter-drone solutions, supported by innovative technology designed to passively identify, mitigate, and where necessary, intercept unauthorized drones custom-built for various environments – including airports, borders, prisons, critical infrastructure, and mass events. Founded in 2017, Sentrycs’ has offices in Israel and the US, serving customers worldwide. By uniting its field-proven technology and expertise in global drone environments, Sentrycs is leading the way towards a safer and more secure drone-driven future. Learn more at www.sentrycs.com
Video – https://www.youtube.com/watch?v=YBuhpTq5QuM
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MILAN, April 25, 2024 /PRNewswire/ — Homestyler, a leading all-in-one 3D Design platform and creative community for global designers invested by Easyhome New Retail Group and Alibaba Group, successfully hosted the Homestyler Global Partners Conference and Gorgeous Home Imported Brand Investment Promotion Conference from April 18 to 19 on the sidelines of the 2024 Salone del Mobile Milano, the world’s leading furniture fair.
Easyhome is at the forefront, driving the transformation of the home furnishing industry into a full-service platform. It has developed a tailored solution for global brands called Gorgeous Home, which includes supportive policies and has established local distribution and service networks in international markets. During the conference, Homestyler unveiled a suite of digital products enhanced by 3D and AI technologies, including cloud-based design tools, virtual livestreaming that can alter and restore furnishing scenes to true-to-life scale, a 3D Floor Planner, a 3D Virtual Studio, and a 3D Interactive Panorama, among others. The event also marked the signing ceremony with the first group of global partners.
The Global Partners Program is a key milestone of Homestyler’s roadmap towards global commercialization. It has established close partnerships with around 1,000 global home furnishing companies and design institutions to provide solutions for digital transformation. The first global partners from more than 20 countries and regions will collaborate to explore content creation and marketing potential to deliver effective growth.
In addition, Homestyler shared the unique advantages of its software and cloud designing tools, particularly in cloud rendering, free modeling capabilities, 3D model and material libraries, one-stop workflow, and user-friendliness.
“The core technologies and products of Homestyler extend through all links both online and offline and deeply converge physical experience with digital technologies, such as attracting customers, content design and creation, interactive scene, check-out tracking and more, and we continue to optimize and enhance the 3D scenario shopping experience to empower the transformation and upgrading of the global home furnishing industry,” said Ma Xingjian, head of Homestyler’s overseas business.
Looking ahead, Easyhome and Homestyler aims to establish an international service, regional distribution and dealership system, serving as a bridge between global designers and home furnishing companies worldwide to enable designers residing in different countries and regions to highlight their 3D design solutions and boost shopping experience for the consumers.
As a creative hub for global designers, Homestyler continually expands its model library with home furnishing products from around the world and provides the latest in 3D and AI technologies to help companies promote their products across various channels. Companies such as P Life Concept London, Lahoma Ltd., and Tecnobit S.r.l. are leveraging Homestyler products to enhance the online shopping experience and increase efficiency on their websites. Homestyler plans to introduce more B2B digital products and services, including advanced 3D tools for designing, modeling, rendering, virtual studio shooting, and livestreaming. “Homestyler will further advance our international development: we are planning to establish industry-academy cooperation with Italy’s top design institution, the Polytechnic University of Milan, and the relationship with ADI. With the launch of Global Partners Program, Homestyler will continue to invest in supporting policies and boost international influence through various cooperation programs, to achieve the goal of providing better design services for users globally,” said Xu Min, general manager of Homestyler.
For more information, please visit https://www.homestyler.com.
About Homestyler
Homestyler was jointly invested in by Easyhome New Retail Group and Alibaba Group. It is dedicated to provide 3D cloud design tools for designers worldwide and delivering a comprehensive suite of 3D+AI digital solutions to the furniture and home furnishing industry.
View original content:https://www.prnewswire.co.uk/news-releases/homestyler-to-recruit-first-batch-of-global-partners-in-20-countries-302127111.html
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