Due to rapid technological advancements, the implementation
of strict safety regulations and policies regarding vehicles by the governments
of several countries, and the superior detection ability of LiDAR (light
detection and ranging), the global automotive
LiDAR market is predicted to register huge
growth in the coming years. Many public and private organizations are making
huge investments in the development of LiDAR sensors, on account of excellent
performance of these sensors in various automotive applications.
Due to the
growing prevalence of road accidents, the governments of many countries are
implementing strict regulations that mandate the adoption of safety systems and
features in automobiles. For example, the EU (European Union) has recently
enacted a regulation that mandate the incorporation of various driver
assistance features such as emergency stop signal, intelligent speed
assistance, and advanced emergency braking in automobiles running on the roads
of the member nations.
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Hence, it can
be said with complete surety that the market will surge sharply throughout the
world in the years to come, primarily because of the rising adoption of ADAS
and other safety systems in vehicles and the growing usage of connected cars
and autonomous vehicles across the world.