According to the Yole Developpement, a well-known semiconductor consulting organization released a report entitled “Lidar for Automotive and Industrial Applications 2021”.
As per the latest report, since David Hall led Velodyne to invent 3D real-time lidar technology in 2005, at least 80 companies focused on lidar have been established around the world, greatly expanding the application space of this technology.
Yole analysts pointed out that the lidar market for automotive and industrial applications is expected to reach US$5.7 billion by 2026, with a compound annual growth rate of 21% from 2020 to 2026. In 2020, lidar in advanced driver assistance systems (ADAS) will only account for 1.5% of the automotive and industrial lidar markets, but by 2026, the proportion of ADAS is expected to reach 41%.
The report pointed out that by 2026, the smart infrastructure lidar market is expected to reach 395 million U.S. dollars, with a compound annual growth rate of 35% from 2020 to 2026. The logistics lidar market is expected to reach USD 466 million by 2026, with a compound annual growth rate of 23%.