With the development and popularization of autonomous driving technology, the in vehicle LiDAR market is experiencing rapid growth, gradually demonstrating the potential of a billion dollar market blue ocean. The following is a specific analysis:

Rapid market growth: Vehicle mounted LiDAR is widely used in fields such as autonomous driving and advanced driver assistance systems (ADAS). In terms of the Chinese market, the demand will reach 1.558 million sets in 2024, with a market size of 11.218 billion yuan. It is expected that the demand will be about 2.127 million sets in 2025, with a market size of about 13.613 billion yuan. In the global market, it is expected that the global market size will reach 13.54 billion US dollars, approximately 87 billion yuan, by 2025, with a very broad market prospect.

Driving demand for autonomous driving technology: Lidar is a key sensor for intelligent vehicles to move towards L3/L4 level autonomous driving. It can enable vehicles to have high-level autonomous driving assistance capabilities and can also be used for vehicle road coordination to accurately detect and track road, vehicle, pedestrian and other data. With the increasing demand for autonomous driving, most players in the autonomous driving field, except Tesla, have chosen LiDAR, driving the continuous growth of their market demand.

Cost reduction promotes popularization: Vehicle mounted LiDAR technology is constantly upgrading and improving, and products are gradually shifting from higher cost mechanical to pure solid-state. The advancement of production processes has also led to continuous cost reduction. For example, Huawei has released a laser radar as low as $200, and DJI's Lanwo Technology has also lowered the price of automotive autonomous driving laser radar to the level of thousands of yuan. The cost reduction will help it to be more widely installed and mass-produced, expanding its market size.

Joint efforts from upstream and downstream of the industrial chain: Faced with the huge market potential of vehicle mounted LiDAR, enterprises from both upstream and downstream of the industrial chain are laying out their strategies. Traditional car companies and technology companies are actively entering the market, such as leading domestic companies like Hesai Technology applying for listing, and overseas companies like Velodyne and Luminar also experiencing a wave of listing. From research and development, production to application, all aspects work together to promote the development of the in car LiDAR market.

The application scenarios are constantly expanding: in addition to the passenger car field, LiDAR is also widely used in commercial vehicle fields such as Robotaxi and Robotruck. It is expected that by 2025, the global number of L4/L5 autonomous vehicles for Robotaxi and Robotruck will be 535000, corresponding to a market size of 3.5 billion US dollars for LiDAR. The expansion of application scenarios provides more impetus for market growth.