Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) — The “Europe Automotive LiDAR System-on-Chip (SoC) Market: Analysis and Forecast, 2024-2033” report has been added to ResearchAndMarkets.com’s offering.
The Europe automotive LiDAR system-on-chip (SoC) market (excluding U.K.) is expected to be valued at $6.6 million, which is anticipated to grow at a CAGR of 23.47% and reach $44 million. The automotive LiDAR system-on-chip (SoC) market is poised for growth, propelled by technological advancements in autonomous vehicles, widespread deployment of LiDARs in highly automated vehicles, substantial progress in automotive LiDAR research and development (R&D) enhancing system features, and an expected reduction in LiDAR manufacturing costs with the commencement of mass production.
Business Dynamics
- Business Drivers
- Rapid Technological Advancement in LiDAR in the Automotive Industry
- Surge in Investments and Funding in LiDAR System-on-Chip Manufacturing Startups for R&D Activities
- Cost-Effectiveness of LiDAR System-on-Chip
- Growing Demand for the Miniaturization of Products
- Business Restraints
- Growing Complexity in Integrating All the Components on a Chip due to Lack of Knowledge
- Constant Review of Regulatory Policies on Standardization of Chips
- Semiconductor Shortage Effect
- Business Strategies
- Product Development
- Market Development
- Corporate Strategies
- Mergers and Acquisitions
- Partnerships, Joint Ventures, Collaborations, and Alliances
- Business Opportunities
- Growing Trend for the Development of Autonomous Vehicles
- Manufacturing LiDAR System-on-Chip at Scale
- Deployment of LiDAR System-on-Chip in Other Applications such as Robotics and Industrial Automation
Market Introduction
The Europe Automotive LiDAR System-on-Chip (SoC) market is witnessing strong growth due to the increased incorporation of LiDAR technology in autonomous vehicles. Technological advancements in LiDAR systems, particularly in SoCs, are driving innovation in the automotive industry. The region is experiencing a surge in research and development efforts aimed at improving LiDAR features to enhance safety and efficiency in autonomous driving applications. The widespread utilization of LiDARs in highly automated vehicles further contributes to market expansion. Anticipated reductions in LiDAR manufacturing costs, resulting from mass production, enhance the market’s competitiveness. With Europe leading in the adoption of autonomous driving technologies, the Automotive LiDAR SoC market in the region is positioned for sustained growth, providing advanced solutions for the evolving automotive landscape.
Market Segmentation
Segmentation 1: by Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Robo Taxis
Segmentation 2: by Propulsion Type
- Electric Vehicles
- Internal Combustion Engine Vehicles
Segmentation 3: by Level of Autonomy
- Semi-Autonomous
- Fully Autonomous
Segmentation 4: by Range Type
- Short-to-Medium Range LiDAR
- Medium-to-Long Range LiDAR
Segmentation 5: by Perception Type
Segmentation 6: by Country
- Germany
- France
- Italy
- Rest of Europe
Key Market Players and Competition Synopsis
The featured companies have been meticulously chosen, drawing insights from primary experts and thorough evaluations of company coverage, product offerings, and market presence. Some prominent names established in this market are:
- Scantinel
- Volkswagen AG
- BMW Group
Key Attributes
| Report Attribute | Details |
| No. of Pages | 116 |
| Forecast Period | 2024-2033 |
| Estimated Market Value (USD) in 2024 | $6.6 Million |
| Forecasted Market Value (USD) by 2033 | $44 Million |
| Compound Annual Growth Rate | 23.4% |
| Regions Covered | Europe |
For more information about this report visit https://www.researchandmarkets.com/r/mxg1zn
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- European Automotive LiDAR System-on-Chip (SoC) Market
