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Compact Solid state LIDAR Market Size, Type, growth and forecast 2023-2030

  • charvireportprime
  • Jan 18, 2024
  • 2 min read

Compact Solid state LIDAR Market

The Compact Solid state LIDAR Market is expected to grow from USD 1.70 Billion in 2022 to USD 2.90 Billion by 2030, at a CAGR of 7.30% during the forecast period.

Compact Solid state LIDAR Market Size

Compact Solid state LIDAR is a type of light detection and ranging technology that uses solid-state components, such as micro-electro-mechanical systems (MEMS) and phased arrays, to emit and detect laser pulses. The market for Compact Solid state LIDAR is segmented based on type, including MEMS Based Scanning, Phased Array, and Non-Scanning Flash, while applications include Automotive, Industrial, and Security. The geographical segmentation of the market includes North America, Asia Pacific, Middle East, Africa, Australia, and Europe, with major players including Velodyne, Quanergy, LeddarTech, Ibeo, Innoviz, Luminar, Continental AG, Robosense, Benewake, and Hesai. Regulatory and legal factors specific to market conditions include the need for compliance with government regulations, such as restrictions on the use of LIDAR in certain areas, as well as the need for intellectual property protection and confidentiality agreements for proprietary technology.

Compact Solid state LIDAR Market Key Players

  • Velodyne

  • Quanergy

  • LeddarTech

  • Ibeo

  • Innoviz

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Compact Solid state LIDAR Segment Analysis

One of the latest trends in the Compact Solid state LIDAR market is the development of smaller and more affordable LIDAR sensors that can be integrated into a range of platforms. This is expected to increase adoption by OEMs and positively impact market growth. Moreover, the integration of AI and machine learning algorithms in LIDAR sensors has opened up new applications and increased the accuracy of the technology.

Overall, the Compact Solid state LIDAR market is poised for significant growth in the coming years. However, players in the market need to address the challenges related to cost, standardization, and cybersecurity to fully realize the market's growth potential. Recommendations from the report suggest that the development of more affordable and lightweight LIDAR sensors with enhanced accuracy will be a key driver of market growth.

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Compact Solid state LIDAR Market Types

  • MEMS Based Scanning

  • Phased Array

  • Non-Scanning Flash

Compact Solid state LIDAR Market Applications

  • Automotive

  • Industrial

  • Security




 
 
 

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