LiDAR Sensors Market Share

Regionally, the global LiDAR sensor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific industry is anticipated to hold largest revenue share by 2036, propelled by high production of electronic components, especially in China and Japan, and easy availability of raw materials in the region. Moreover, the market in North America is expected to gather the largest share during the forecast period, which can be credited to the increasing demand for LiDAR sensors in the United States for autonomous vehicle delivery. In addition, government’s emphasis to shift towards net zero gaseous emissions is projected to boost the production of electric vehicles, which in turn is anticipated to boost the market growth in the region. As per the International Council on Clean Transportation, about 315,000 electric vehicles were sold in the US from 2018 to 2020. In 2020, the share of electric vehicles sold in the country was 2.4%, which increased by about 2% from 2019.