Automotive LiDAR market could hit US$6.54bn by 2031

The automotive LiDAR market is forecast to grow from US$1.23bn in 2025 to US$6.54bn by 2031, a compound annual growth rate of 32.09%, according to a new report from Mordor Intelligence. Rising adoption of Level 3 and above autonomous driving, falling sensor costs, and tightening safety regulations are cited as the primary drivers.

Asia-Pacific leads adoption, with China at the centre of large-scale deployment supported by government incentives and domestic supply chains. North America is supported by autonomous trucking applications and growing demand for hands-free driving features, while Europe sees slower mass-market uptake due to stricter regulation, with adoption concentrated among premium manufacturers.

Solid-state LiDAR costs have fallen sharply in recent years, broadening deployment beyond luxury segments into mid-range vehicles. FMCW LiDAR — which captures both distance and velocity data and supports ranges of up to 400 metres — is seen as a key technology for wider integration, with production scaling ahead of planned integration in premium models.

Source: PRNewsWire