Most people in the insurance sector would agree that semi-autonomous vehicles have still got a long way to go before we can trust the Autopilot AI to drive 10 million cars in Britain. Driver Assistance tech is still evolving. One area where there are potential gains is the use of LiDAR, so if you are in product development and want to understand more about how LiDAR can help reduce risk, there’s a new report available.
With the innovation of lidar beam steering technologies, continuous lidar cost reduction, as well as the progress of Advanced Driving Assistance System (ADAS) and Autonomous vehicles (AV), lidars are embracing their potential US$8.4 billion-dollar market by 2033. Enabled by automotive applications, LiDAR systems can be further expanded to other areas such as robotics, industrial, smart cities, and mapping.
This tech could even help understand the severity of damage after major fires, floods or similar Cat events.
Bigger Opportunities Enabled by ADAS and AV
Autonomy is another big trend after electrification in the automotive sector.
Automotive autonomy can potentially change our lifestyle and also offers huge business opportunities for existing and emerging technologies. An important part of autonomy is sensing and recognition. Sensors such as cameras, ultrasonic systems, and radars can already provide useful information for this purpose.
However, none of them are perfect. For instance, cameras offer color and high-definition images but suffer from poor depth information and can be easily affected by the sun. The ultrasonic system is very cheap but has a very short detection range. Radar is quite robust to bad weather conditions but gives very poor resolution. The typical 2-3° angular resolution (e.g. 2° at 100m cannot distinguish a distance larger than 3.4m) of radar makes most object detection challenging.
The IDTechEx report “Lidar 2023-2033: Technologies, Players, Markets & Forecasts” provides research on lidar from technology, business, and market to players.