MEMS LiDAR Market projected to reach US$ 1.5 billion by 2027 driven by rapidly advancing automated vehicles

NOIDA, UTTAR PRADESH, INDIA, August 23, 2023/EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the MEMS LiDAR market is projected to grow at a CAGR of 27.05% between 2022 and 2027 to reach US$1,448 million by 2027.

The prime factors propelling the MEMS LiDAR market growth include the increasing demand for autonomous vehicles, expanding investments in the space industry, and product innovations by the major market players.

Micro-Electro-Mechanical Systems (MEMS) LiDAR is a technology that combines MEMS technology with LiDAR (Light Detection and Ranging) sensing principles. LiDAR is a remote sensing method that uses lasers to measure distances and create detailed, 3D maps of the environment by measuring the time it takes for laser pulses to bounce back after hitting objects. MEMS LiDAR finds applications in various fields, including autonomous vehicles, robotics, agriculture, forestry, environmental monitoring, and more.

Various collaborations and technological advancements are driving the MEMS LiDAR market. For instance, the California-based firm Omnitron Sensors Inc. developed a quick-moving microelectromechanical system (MEMS) scanning mirror in December 2022. This meets the wide field of vision requirements for lidars used in robotics, drones, and advanced driver assistance systems (ADAS) for autos, claims the maker.

Access sample report or view details: https://www.knowledge-sourcing.com/report/mems-lidar-market

The MEMS LiDAR market is segmented into transmitter, and receiver depending on the component. LiDAR technology has applications in creating 3D maps for urban planning, infrastructure monitoring, and disaster management, further contributing to the growth of the transmitter segment. As autonomous vehicles and advanced driver assistance systems (ADAS) become more common, the demand for LiDAR sensors to provide accurate perception and mapping of surroundings increases.

The MEMS LiDAR market is segmented into automotive, space applications, wind velocimetry, and robotics based on the application. The automotive sector is anticipated to contribute significantly to the MEMS LiDAR market expansion owing to technological advancements, increasing demand for autonomous vehicles, and expanding applications. For instance, in 2022, Mercedes-Benz achieved a significant milestone by obtaining official government certification as the first company to manufacture vehicles with the capability for Level 3 autonomous driving. Introducing their innovative Drive Pilot technology, Mercedes-Benz has designed a system that can assume control of driving functions when the vehicle is traveling at the prescribed speed limit of 37 mph.

Geographically, North America holds a substantial share of the MEMS LiDAR market owing to the increasing demand for automated vehicles, increasing investment in space operations, expanding automotive production, and technological advancements. For instance, according to the International Organisation of Motor Vehicle Manufacturers, the United States manufactured 7.32 million light commercial vehicles in 2021, a 10% increase over the 6.66 million units produced in 2020. Additionally, the US has made large technological expenditures in high-definition mapping, adaptive algorithms, and even improved infrastructure all of which are encouraging automotive industry businesses to increase the manufacturing of autonomous cars.

The research includes coverage of RoboSense (Suteng Innovation Technology Co Ltd), Jenoptik, Blickfeld, Pioneer Corporation, Innovize, Microvision Inc., Drape Inc., and Mitsubishi Electric Corporation among other significant market players in the MEMS LiDAR market.

The MEMS LiDAR market report segments the market as below:

• By Component

o Transmitter
o Receiver

• By Application

o Automotive
o Space Applications
o Wind Velocimetry
o Robotics

• By Geography

o North America

• USA
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Indonesia
• Taiwan
• Thailand
• Others

Explore More Reports:

• Level Transmitter Market: https://www.knowledge-sourcing.com/report/level-transmitter-market

• Radar Level Transmitter Market: https://www.knowledge-sourcing.com/report/radar-level-transmitter-market

• LiDAR for Robotic Cars Market: https://www.knowledge-sourcing.com/report/lidar-for-robotic-cars-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
[email protected]
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