The aggregated installed base of LiDAR sensors in the Smart Cities, Security, and Industrial verticals will reach 16 million by 2030, higher than the 13 million LiDAR sensors to be installed in vehicles by 2030. Moreover, the IoT markets will reach mass-market maturity faster than automotive, yielding significant business value before the middle of this decade. In its new whitepaper, Demystifying LiDAR: IoT and Automotive Applications, Industries, and Business Models, global technology intelligence firm ABI Research explores how the unique features and benefits of LiDAR technology will drive innovation and value across industry segments.
While the driverless vehicle market remains the largest opportunity for LiDAR sensor technologies in the longer term, there is a more imminent business proposition in various IoT markets. “With the autonomous car market now not expected to take off until well into the second half of this decade, LiDAR suppliers are actively exploring many new use cases across various non-automotive verticals such as Smart Cities, Security, and Industrial Automation. These markets are primed to leverage LiDAR’s inherent advantages of robustness in outdoor environments, reliability, range, and 3D resolution compared with other sensors such as camera, radar, and infrared sensors. Moreover, these IoT markets have less concentrated ecosystems representing both much larger addressable markets in terms of the number of potential buyers and more promising profit margins compared with automotive,” explains Dominique Bonte, Vice President, End Markets and Verticals, at ABI Research.
Specific aspects of the use of LiDAR in the various markets are highlighted below:
“LiDAR technology and its supplier ecosystem will continue to evolve in two important respects. First, the shift from mechanical to solid-state LiDAR sensor technology will drive lower price levels, ultimately dropping below US$500, higher manufacturing scalability, and lower maintenance levels due to reduced tear and wear. Second, the LiDAR supplier ecosystem, currently consisting of more than 100 players, will mature and consolidate to between 10 and 20 key players by 2030,” Bonte concludes.
To learn more about the opportunity for LiDAR, what is driving the revenue, and ABI Research’s strategic recommendations for companies, download Demystifying LiDAR: IoT and Automotive Applications, Industries, and Business Models.
About ABI Research
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