With an accelerating number of instances associated with road accidents & even fatalities, it is becoming crucial to follow safe driving regimes and eliminate the possibilities of such incidents. Yet, it might not always be in the driver's hands to foresee danger, especially in a situation when the vision is compromised.
Hence, to aid such difficulties, automakers have been
actively working with different technologies to integrate safer mechanisms into
vehicles and eliminate such risks beforehand. It is where LiDAR (Light
Detection & Ranging) comes into the picture. LiDAR systems are remote
sensing equipment that uses light in the form of a pulsed laser to measure distance
and detect any obstruction on the way. Using these systems, drivers can know an
obstacle that can't be seen with bare eyes with the help of improved lighting
on the road and avoid road accidents or threats.
Such developments are monumental in the industry and
are playing a prominent role in reducing road accidents, owing to which the
automotive sector has gained popularity & praise for integrating LiDAR
systems into vehicles. In fact, a recent research report published by MarkNtel
Advisors has cited that the Global Automotive LiDAR Market is set to register a
CAGR of around 29% during 2022-27, primarily on the back of stringent vehicle
safety regulations across several countries worldwide, technological
advancements in passenger safety, and mounting requirements for autonomous
& semi-autonomous vehicles.
Key Reasons behind All the Hype for
LiDAR in the Automotive Sector
We live in a world where self-driven, autonomous, &
electric vehicles are around us, integrated with various modern technologies
like Artificial Intelligence (AI), making lives convenient in a plethora of
ways. It, in turn, is attracting a massive consumer base by purchasing such
technologically advanced vehicles and exercising the benefits of the latest
features. It is where the demand for LiDAR systems is also stimulating and
observing an upsurge in demand, principally to strengthen safety.
With the presence of LiDAR sensors, incorporating a
sensing mechanism, detecting objects while mapping their depth & distance
from the vehicle to avoid any possible clashes is gaining swift popularity.
These features are possible by emitting an optical pulse at the target and
measuring the characteristics of the returning pulse. The time taken for this
calculation ranges anywhere from nanoseconds to several microseconds, creating
a 3D understanding of the path to aid passenger & vehicle safety.
How are Autonomous & Electric
Vehicles Sales Influencing the LiDAR Industry?
As the world is moving more & more toward
environment-friendly & smart vehicles, including the swift popularity of
autonomous and electric vehicles across the world, the demand for advanced
features like LiDAR in the latest models of such cars is accelerating rapidly
worldwide. It is not just about getting the latest technologies alone, but the
benefits it brings along.
Automakers seek LiDAR as a good investment in
vehicles, especially when safety is put as the top priority. Therefore, with
the growing sales of these vehicles, the demand for LiDAR sensors is likely to
witness an upsurge, which in turn, shall positively influence the industry in
the future.
Today, with the growing integration of technological
advancements and massive investments in the automotive sector, the
implementation of LiDAR in self-driving vehicles has played a prominent role in
expanding the entire industry. Moreover, numerous research & development
activities for bringing technological innovations are also fueling the demand for
LiDAR systems in vehicles. The same trend is anticipated to prevail in the
coming years, which would present lucrative prospects for both the leading
automakers & tech companies and drive the automotive LiDAR industry globally.
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