LiDAR technology is used in advanced driver-assistance systems (ADAS) and autonomous vehicle. According to study, around 90% of the fatal accident attributed to driver’s error. Hence to reduce such accidents, advanced driver-assistance systems are used which assist the driver during driving process. It aids driver with monitoring, warning, braking, and steering tasks. ADAS are responsible for several effective features namely adaptive cruise control, parking supervision, night vision, risk management and others. Lidar sensors used in ADAS, measures the distances from objects and relative speeds using ultraviolet, infrared radiation or visible light. Growing customer’s awareness and rising number of regulations for safety application has propelled the development of ADAS globally. European and American countries are mandating installation of autonomous emergency-braking systems and forward-collision warning systems in all vehicles by 2020. Evolution of ADAS systems for improved safety of customers is one of the key factors that showed a positive impact on the growth of LiDAR market.
Recently, both automotive OEMs and high-tech players such as Google have focused on research and development of fully autonomous vehicles. Autonomous vehicles need high resolution sensor for recognizing and determining potential hazards, thereby preventing collisions with them. Advancement in car capabilities from active safety to autonomous driving has resulted in use of LiDAR systems by replacing radars and cameras. Self-driving vehicles from companies such as Alphabet, Uber, and Toyota relies on LiDAR systems to navigate and identifying objects such as pedestrians and other vehicles. Embedding LiDAR systems with autonomous driving systems for providing connectivity with other vehicles and to take proper action with regards to surroundings will drive the LiDAR market in automotive vertical.
Hence, it can be concluded that attaining traffic safety along with increasing efficiency in transportation systems with help ADAS and autonomous vehicles is a major factor that attributed towards the growth of the LiDAR market during the forecast period.
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