The report forecasts global automotive LiDAR sensors market to grow at a CAGR of 34.22% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A key trend which will boost market growth is the need for enhanced road fatality reduction rates during night driving. There is an enhanced focus by governments across the globe on curbing road fatalities. Technavio observes that the need for curbing road fatalities during the night hours may increasingly be prioritized by governments. These stem from the fact that as per a 2015 report from NHTSA, the passenger vehicle occupant fatality rate stands three times higher in night (6 PM to 5:59 AM) or during dark hours. In addition, the report reveals that the number of drunk drivers involved in fatal crashes in 2014 were four times higher at night than during the day.
According to the report, a key growth driver for this market is better capabilities and functionality of LiDAR sensors. The exploration of LiDAR technology has revealed critical results of LiDAR's capabilities vis-à-vis other sensors available in the market. In addition to this, the continuous need for better sensors in the automotive industry has helped the growth of the automotive LiDAR sensors. LiDAR has better capabilities with respect to detection of objects and even during the complete absence of light.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?