According to relevant data, the global automotive application laser radar market will show an amazing growth trend from 2017 to 2023: from 726 million US dollars to 5 billion US dollars, during which the compound annual growth rate will be as high as 43%. Let's take a look at the related content with Xiaobian.
According to Yole Development, a French market research and strategy consultancy, the growth trend of the automotive application laser radar (LiDAR) market will continue until 2032, when the market will reach $28 billion.
Recently, LiDAR and new applications are developing simultaneously. Therefore, the LiDAR market is directly related to the development of ADAS solutions and robotic vehicles. These areas have shown high growth rates and great market enthusiasm. A variety of industries such as aerospace, archaeological, construction and wind farm projects will also be part of the LiDAR market.
Yole technology and market analyst Alexis Debray said: "In the past two years, LiDAR companies have invested more than $800 million. Therefore, these technologies have great appeal to the industry." Some companies were established only a few years ago. But it has already received millions of dollars in investment. For example, Blackmore, which was founded in 2016, recently received $18 million in investments from BMW and Toyota. Founded in 2012, Quanergy received $180 million in investment in 2017.
This investment trend just proves the immaturity of LiDAR technology. Startups, industrial companies, top companies, and automotive OEMs all invest in different ways, but they can't ensure success, and that's the price they have to pay. Only then can they get into the automotive market LiDAR technology. Many people call it the "Holy Grail."
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