Automotive LiDAR System-on-Chip (SoC) Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2034

Automotive LiDAR System-on-Chip (SoC) refers to integrated circuit technology designed for automotive LiDAR (Light Detection and Ranging) systems. LiDAR is a remote sensing technology that uses laser beams to measure distances and create high-resolution 3D maps of the surrounding environment. SoC technology integrates multiple components of a LiDAR system onto a single chip, including lasers, photodetectors, signal processing, and data communication circuitry.

This compact integration offers several benefits, including reduced size, lower power consumption, and improved reliability, making it suitable for automotive applications where space and power constraints are critical. Automotive LiDAR SoCs play a crucial role in enabling advanced driver assistance systems (ADAS) and autonomous driving functionalities by providing accurate and real-time environmental perception for vehicles.

MARKET OVERVIEW

The global market valuation of Automotive LiDAR System-on-Chip (SoC) Market was valued at approximately USD 29.3 Million in 2024 and is projected to reach USD 207.5 Million in 2034 exhibiting a CAGR of 24.3% during the forecast period of 2024-2034. Automotive LiDAR System-on-Chip (SoC) offers compact integration and high-performance computing power for real-time environmental perception in vehicles, enhancing safety and enabling efficient navigation in diverse road conditions. The market is aligned with automotive, which makes it a sustainable and growing market.

GROWTH DRIVERS

The increase in demand for autonomous vehicles is driving the growth of the Automotive LiDAR SoC market, with companies trying to enhance perception capabilities for safer and more reliable autonomous driving experiences. This is evident by the integration of industry leaders such as Waymo and Tesla, emphasizing the importance of LiDAR technology for achieving higher levels of autonomy. Automotive LiDAR SoC solutions enable miniaturization and integration of LiDAR sensors directly into vehicles, reducing the overall cost and complexity of autonomous driving systems.

Companies like Velodyne (Alpha Prime) and Innoviz (InnovizONE) are developing compact LiDAR SoC technology plays a crucial role in enhancing vehicle safety by providing real-time detection and classification of objects, pedestrians, and obstacles in the vehicle's vicinity, contribute to the demand for advanced LiDAR solutions. SoC solutions, citing the importance of integration for widespread adoption of autonomous technology. The governments and regulatory bodies worldwide increasingly emphasizing the importance of advanced driver-assistance systems (ADAS) and autonomous driving technologies to improve road safety and reduce accidents.

This regulatory support creates a conducive environment for the growth of the LiDAR SoC market, such initiatives include the European Union's Vision Zero policy. The significant investments in LiDAR technology to accelerate innovation and commercialization by tech giants, and automotive companies represent the growth of the market. General Motors and Ford are partnering with LiDAR SoC manufacturers like Cepton to develop next-generation autonomous vehicles. The awareness among consumers of the benefits of autonomous driving and ADAS features, there is a growing demand for vehicles equipped with advanced LiDAR technology.

MARKET SEGMENTATION:

·         By Vehicle Type– Passenger cars, Commercial Vehicles, Robo Taxis

·         By Propulsion Type – Electric Vehicles and Internal Combustion Engine Vehicles

·         By Level of Autonomy – semi-autonomous, fully autonomous

·         By Range Type– short-to-medium range LiDAR and Medium-to-long range LiDAR

·         By Perception Type- 2D and 3D, 4D

·         By Region- North America, Europe, Asia Pacific, The Middle East and Africa, South America

Automotive LiDAR System-on-Chip (SoC) Market By Vehicle Type Segment Review:

Passenger cars represent the largest segment in the Automotive LiDAR SoC market due to demand for advanced driver-assistance systems (ADAS) and autonomous driving features in consumer vehicles. The LiDAR SoC provides solutions for collision avoidance, pedestrian detection, and adaptive cruise control. Commercial vehicles includes trucks, buses, and delivery vans, these vehicles often operate in complex urban environments and face unique challenges related to safety, efficiency, and logistics.

LiDAR SoC solutions play a crucial role in enabling advanced driver assistance, collision avoidance, and fleet management capabilities in commercial vehicles. Robo taxis, or autonomous taxis where LiDAR SoCs are integral to the perception and navigation systems of robo taxis, enabling them to operate safely and autonomously in complex urban environments. The emergence of robo taxi services is driven by advancements in autonomous technology, changing mobility preferences, and urbanization trends. LiDAR SoCs are essential for robo taxis to accurately perceive their surroundings, detect obstacles, and navigate urban streets.

Automotive LiDAR System-on-Chip (SoC) Market By Propulsion Type Segment Review:

Electric vehicles, including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs), LiDAR SoCs play a crucial role in enhancing the perception and autonomous capabilities of electric vehicles, enabling safer and more efficient mobility solutions. LiDAR technology enhances the perception capabilities of EVs, enabling them to accurately detect obstacles, pedestrians, and other vehicles in various driving conditions. Additionally, the integration of LiDAR SoCs in EV platforms facilitates seamless integration with electric powertrains and battery management systems, optimizing performance and efficiency.

Internal combustion engine vehicles (ICEVs), including gasoline-powered and diesel-powered vehicles, where LiDAR SoCs are integrated into ICEVs to enhance their safety, efficiency, and autonomous capabilities. Automakers are integrating LiDAR technology into ICEVs to enable features such as adaptive cruise control, lane-keeping assistance, and collision avoidance systems, thereby enhancing driver safety and reducing the risk of accidents. LiDAR SoCs contribute to the development of semi-autonomous and autonomous driving technologies in ICEVs, catering to evolving consumer preferences and regulatory requirements.

Automotive LiDAR System-on-Chip (SoC) Market By Level of Autonomy Segment Review:

Semi-autonomous vehicles feature advanced driver-assistance systems (ADAS) that provide partial automation of driving tasks. These vehicles perform certain functions, such as lane-keeping assistance, adaptive cruise control, and automated parking, requiring human intervention for complex maneuvers and decision-making. LiDAR sensors play a crucial role in providing accurate perception data to semi-autonomous vehicles, enabling them to detect obstacles, pedestrians, and other vehicles with high precision and reliability.

Automakers are integrating LiDAR SoCs into semi-autonomous vehicles to enable features such as collision avoidance, traffic jam assist, and automated lane changing, thereby improving the overall driving experience and reducing the risk of accidents. Fully autonomous vehicles are capable of performing all driving tasks without human intervention under certain conditions. These vehicles are equipped with advanced sensor technologies, including LiDAR, radar, and cameras, to perceive and navigate their environment without human input. LiDAR sensors are essential components of autonomous vehicle systems, providing 3D mapping and real-time environmental perception capabilities. Fully autonomous vehicles rely on LiDAR SoCs to accurately detect and classify objects, navigate complex traffic scenarios, and make real-time decisions to ensure safe and efficient autonomous operation.

Automotive LiDAR System-on-Chip (SoC) Market By Range Type Segment Review:

Short-to-medium range LiDAR systems typically have a detection range of up to a few hundred meters and are primarily used for close-range perception tasks such as pedestrian detection, obstacle avoidance, and collision mitigation in urban environments and low-speed driving scenarios. These LiDAR systems provide high-resolution 3D mapping and object detection capabilities, enabling vehicles to navigate safely in complex urban environments with heavy pedestrian and cyclist traffic. Automakers are leveraging short-to-medium range LiDAR SoCs to enhance the safety and situational awareness of vehicles, especially in urban areas where traditional sensor technologies may be limited in their effectiveness.

Medium-to-long range LiDAR systems have a detection range of several hundred meters to several kilometers and are designed for long-distance perception tasks such as highway driving, highway autonomy, and highway-speed object detection. These LiDAR systems enable vehicles to detect and track objects at far distances, enhancing highway safety and enabling advanced autonomous features such as lane-keeping assistance, highway autopilot, and automated lane changing. Automakers and technology companies are investing in medium-to-long range LiDAR SoCs to enable Level 4 and Level 5 autonomous driving capabilities.

Automotive LiDAR System-on-Chip (SoC) Market By Perception Type Segment Review:

2D and 3D LiDAR systems generate point cloud data by emitting laser pulses and measuring the time it takes for the pulses to return after reflecting off objects in the environment.  2D LiDAR captures data in a single plane, 3D LiDAR captures data in multiple planes, enabling the creation of detailed 3D maps of the surroundings. These LiDAR systems provide accurate distance measurements and detailed spatial information about the vehicle's surroundings, enabling precise object detection, localization, and mapping.

Automakers and technology companies leverage 2D and 3D LiDAR SoCs to enhance the perception capabilities of vehicles, enabling safe and reliable autonomous driving in diverse environments, including urban streets, highways, and off-road terrain. 4D LiDAR systems add a temporal dimension to spatial perception by capturing data over time, enabling real-time tracking and dynamic object recognition. These LiDAR systems provide continuous monitoring of the environment, allowing vehicles to anticipate and respond to changes in the surroundings. These LiDAR systems enable vehicles to detect and track moving objects, predict their future trajectories, and make timely decisions to ensure safe navigation and collision avoidance. Automakers and technology companies utilize 4D LiDAR SoCs to enable advanced autonomous features such as predictive path planning, adaptive cruise control, and collision avoidance systems.

Automotive LiDAR System-on-Chip (SoC) Market Regional Analysis:

North America is a significant market driven by the factors like presence of Silicon Valley, the hub for technology advancements and presence of key global companies with automotive companies like Tesla. Europe is another significant market driven by the presence of robust automotive manufacturing hub. Asia Pacific is a rapidly market growth due to urbanization and increasing demand for smart mobility solutions and growth in automotive sector, according to Statista.

Key Challenges:

The primary challenge is the high cost associated with developing and manufacturing LiDAR SoCs. The complex technology and components required for LiDAR systems, such as lasers, photodetectors, and signal processing chips, contribute to high production costs, making LiDAR solutions expensive for mass adoption in vehicles. The challenges related to sensor accuracy, range, resolution, and reliability may arise due to factors such as adverse weather conditions, varying light levels, and sensor degradation over time, may hinder the market growth. The compliance with regulatory requirements and safety standards is critical for the adoption of LiDAR technology in automotive applications. LiDAR SoCs must meet standards related to electromagnetic interference (EMI), electromagnetic compatibility (EMC), functional safety (ISO 26262), and automotive-grade reliability (AEC-Q100), which may pose technical and certification challenge.

Competitive Landscape:

In the highly competitive Automotive LiDAR System-on-Chip (SoC) market, companies are investing heavily in research and development to innovate and improve the product and services. They are also collaborating, forming strategic partnerships, or acquiring other companies to gain access to new market segments, enhance distribution networks, and increase market share. Recent developments includes in April 2023, Cepton, Inc. launched Komodo, an exclusive ASIC (Application-Specific Integrated Circuit) chip designed for lidar point cloud processing.

In January 2022, Luminar Technologies, Inc. announced a partnership with Mercedes-Benz Group AG. Mercedes plans to integrate Luminar's Iris LiDAR into their upcoming vehicles, based on the next-generation platform. In August 2022, Volkswagen Group partnered with Innoviz Technologies Ltd, who will supply their LiDAR technology and software to Volkswagen Group's autonomous vehicle unit. RoboSense released its latest solid-state LiDAR, the RS-LiDAR-E1 (E1), a cutting-edge flash LiDAR equipped with in-house, custom-developed chips and a flash technology platform, providing a 360° field of view. In June 2023, Innoviz Technologies Ltd partnered with LOXO to deploy InnovizOne LiDAR units on LOXO delivery vehicles until 2024. In October 2022, Velodyne LiDAR, Inc. acquired Bluecity.

Global Key Players:

·         Indie Semiconductor

·         Mobileye

·         RoboSense

·         Ouster, Inc.

·         Aeva

·         SiLC Technologies

·         Scantinel

·         Voyant Photonics

·         Quaenergy systems, Inc.

·         Velodyne Lidar, Inc

·         Innoviz Technologies

·         Luminar Technologies