Technavio has published a new market research report on the global automotive LIDAR sensors market from 2018-2022.
Automotive OEMs are competing for becoming the first to develop fully functioning autonomous vehicles and capture the market. Companies such as Delphi, Intel, Mercedes-Benz, and Ford are among the major OEMs and Tier-1 suppliers that have invested heavily in the development of automotive vehicles. With the rapid development in autonomous vehicle technology, the global automotive LIDAR sensors market is expected to witness significant growth during the forecast period.
According to a senior analyst at Technavio, “Apart from the rising development of autonomous vehicle technology, factors such as the key role of LIDAR sensors in ADAS and the development of more versatile solid-state LIDAR sensors will fuel the growth of the global automotive LIDAR sensors market during the forecast period.”
LIDAR sensors based on continuous-wave frequency modulation (CWFM) technology is one of the major trends being witnessed in the global automotive LIDAR sensors market 2018-2022. The next generation LIDAR sensor manufacturers are working on the CWFM technology for LIDAR sensors. This approach has several advantages over conventional LIDAR sensors. CWFM LIDAR sensors are immune to background light and can detect the velocity as well as the distance of the object.