Lidar market on a 43% CAGR

May 21, 2018 //By Peter Clarke
Lidar market on a 43% CAGR
The annual market for lidar systems is set to grow from US$726 million in 2017 to US$5 billion in 2023, which reflects a compound annual growth rate (CAGR) of 43 percent, according to market research firm Yole Developpement.

And because lidar is closely connected with ADAS the growth is set to continue until 2032 with a $28 billion in the automotive segment alone. Robotics and drones are also a key area for lidar deployment. "In the past two years, more than $800 million has been invested in lidar companies," Yole analyst Alexis Debray, in statement.

Automotve and industrial lidar market forecast 2017 to 2023. Source: Yole Developpement .

Blackmore Sensors and Analytics Inc. (Bozeman, Montana), founded in 2015, has raised a Series A round of funding worth $3.5 million to develop its frequency modulated continuous wave (FMCW) lidar engine and recently received $18 million from BMA and Toyota (see Startup raises funds for lidar development ). Quanergy Systems Inc., launched in 2012, received $180 million in 2017.

Automotive lidar technologies roadmap. Source: Yole Developpement.

There is a diverse set of technology approaches to lidar. Most current products use mechanical scanning of a high intensity laser at a wavelength of 830nm to 940nm. The mechanical scanners are getting replaced by MEMS scanners. The next step is to go solid-state with an optical phased-array, as proposed by Quanergy. Some companies are  investigating the 1550nm wavelength, at which a higher power laser can be used, because the laser maximum’s permissible exposure is roughly 100 times higher. These players include Blackmore, Neptec, Aeye, and Luminar.

Related links and articles:

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