reblog

In the ever-evolving landscape of automotive technology, one of the most promising innovations that has gained significant traction is the LiDAR (Light Detection and Ranging) System-on-Chip (SoC). As autonomous vehicles become more than just a futuristic concept, the Automotive LiDAR SoC market is poised to play a pivotal role in reshaping the future of transportation.

The automotive LiDAR system-on-chip (SoC) market is expected to be valued at $29.3 million in 2024, which is anticipated to grow at a CAGR of 24.30% and reach $207.5 million by 2033. The growth in the automotive LiDAR system-on-chip (SoC) market is expected to be driven by technological advancements in autonomous vehicles and extensive use of LiDARs in highly automated vehicles, tremendous advancement in automotive LiDAR research and development (R&D) to improve the features of the LiDAR system, and an anticipated decline in LiDAR manufacturing costs after the start of mass production.

Passenger Cars Expected to Dominate the Automotive LiDAR System-on-Chip (SoC) Market (by Vehicle Type)

Governments worldwide are focusing more on safety and regulations related to passenger and vehicle safety, which is driving the market demand for vehicle safety features in the detection of pedestrians and other vehicles by sensors and advanced driver assistance systems (ADAS) in new vehicles. Production and sales of passenger vehicles are anticipated to be higher than that of commercial vehicles and robo taxis, as more users are rapidly adopting passenger cars due to their cost efficiency and various government subsidies, among others. The passenger cars segment is expected to lead the market as the sales of passenger cars are anticipated to increase globally.

Electric Vehicles Segment Anticipated to Grow at a Significant Growth Rate in the Forecast Period

Electric vehicles (EVs) require more advanced technology as compared to internal combustion engine (ICE) vehicles. The increasing popularity of small and medium sized electric vehicles has resulted in an increase in the use of automotive LiDAR system-on-chip. Moreover, the automotive LiDAR system-on-chip (SoC) market for EVs is expected to grow mainly due to factors such as growing demand for EVs for low-emission commuting and governments supporting long-range, zero-emission vehicles through subsidies and tax rebates, which have compelled the manufacturers to provide electric vehicles around the world.

Request A Free Deatiled Sample on Automotive LiDAR System-on-Chip Market!

Semi-Autonomous Segment Expected to Lead the Automotive LiDAR System-on-Chip (SoC) Market (by Level of Autonomy)

Consumer demand for semi-autonomous vehicles has increased due to the rise in public safety and security concerns. The engines of semi-autonomous vehicles are productive and use less fuel, and there are fewer accidents. These are a few possible advantages that are anticipated to boost demand for these automobiles and propel the market's expansion. Also, fully autonomous vehicles are not yet ubiquitous on the road. Although, LiDAR will become increasingly important to manufacturers as they go toward Level 4-Level 5 autonomy; for now, the automotive industry is shifting from Level 2 to Level 3 autonomy in the upcoming year.

Medium-to-Long Range LiDAR Expected to Dominate the Automotive LiDAR System-on-Chip (SoC) Market (by Range Type)

Medium-to-long range LiDAR has an extremely high resolution, a long range, and a broad field of view. As a result, even non-metallic items like rocks can be consistently found at a considerable distance using the laser-based distance measurement instrument. So, there is ample time to start performing driving maneuvers like braking and swerving. Medium-to-long range LiDAR not only meets all safety standards for automated driving; in the future, but it will also make it possible for automakers to successfully incorporate the technology into a very broad range of vehicle types.

North America Expected to Dominate the Automotive LiDAR System-on-Chip (SoC) Market

North America is home to a number of automotive LiDAR system-on-chip manufacturers. The region is expected to dominate the automotive LiDAR system-on-chip (SoC) market during the forecast period 2024-2033. Government regulations, technological advancements, extensive investments for dedicated R&D facilities, and presence of major autonomous vehicle manufacturing companies are some of the major drivers that are propelling the growth of the automotive LiDAR system-on-chip (SoC) market in the region.

Access Now: Get A Detailed Insights on Autonomous Vehicle Market Research Reports

Competitive Landscape

To gain market share, major automotive LiDAR manufacturing companies and automotive LiDAR system-on-chip manufacturers are making various kinds of strategic moves. Some key highlights from BIS Research with respect to manufacturers of the automotive LiDAR system-on-chip market are as follows:

• indie Semiconductor, Inc., Mobileye, RoboSense, Ouster, Inc., and Aeva Inc. are some of the leading players globally.

• SiLC Technologies, Inc., Scantinel, and Voyant Photonics, Inc. are some of the emerging private companies.  

• Partnerships, collaborations, and joint ventures have been the most preferred strategy in the market.  

• Apart from Partnerships, collaborations, and joint ventures, expanding business and new product launches are the other strategies being implemented.

• Most of the players have tie-ups with various autonomous vehicle OEMs.

The electric vehicle (EV) market has witnessed remarkable growth in recent years, driven by a global shift towards cleaner and more sustainable transportation options. With this surge in EV adoption, the need for efficient and innovative charging solutions has become increasingly evident. One such innovation that is gaining momentum is bidirectional electric vehicle chargers.

The global bidirectional electric vehicle charger market was valued at $933.2 million in 2022 and is anticipated to reach $4,820.6 million by 2031, witnessing a CAGR of 20.02% during the forecast period 2022-2031. The growth in the bidirectional electric vehicle charger market is expected to be driven by the need for renewable sources of power and energy and increasing sales of electric vehicles around the world.

Key Factors Driving the Bidirectional EV Charger Market

• Grid Resilience: Bidirectional EV chargers can serve as a valuable resource for grid stability. During peak demand periods, they can feed excess energy back into the grid, helping to balance supply and demand. This can reduce the need for costly grid infrastructure upgrades and increase the overall resilience of the electricity grid.
• Energy Storage: Bidirectional charging can transform an EV into a mobile energy storage system. This means that EV owners can store excess electricity during off-peak hours and sell it back to the grid during high-demand periods, potentially reducing their energy costs and generating income.
• Vehicle-to-Home (V2H) and Vehicle-to-Grid (V2G) Applications: Bidirectional charging allows for V2H and V2G applications. V2H enables EV owners to power their homes during power outages or high electricity costs, while V2G enables them to earn money by participating in grid services such as frequency regulation and demand response programs.
• Sustainability: By maximizing the use of renewable energy sources and minimizing energy waste, bidirectional EV charging contributes to a more sustainable energy system. It aligns with global efforts to reduce carbon emissions and combat climate change.

BEVs to Occupy the Major Market Share in the Propulsion Type Segment of Bidirectional Electric Vehicle Charger Market

Battery electric vehicles (BEVs) are leading in the bidirectional charger markets over plug-in hybrid electric vehicles (PHEVs) for several reasons:

• Battery Size: BEVs generally have larger battery capacities than PHEVs, which makes them more suitable for bidirectional charging. Larger battery capacities mean that BEVs can store and supply more energy, making them more effective as sources of backup power.
• Usage: BEVs are typically used as primary transportation vehicles, whereas PHEVs are often used as secondary vehicles. This means that people are more likely to keep BEVs at home and use them as backup power sources, whereas PHEVs may not always be available for bidirectional charging.
• Efficiency: As PHEVs have both gasoline engines and electric batteries, they may not be as efficient in bidirectional charging as BEVs, which only have electric batteries. This means that BEVs may be able to store and supply energy more effectively than PHEVs in bidirectional charging scenarios. Overall, while both BEVs and PHEVs can be used for bidirectional charging, BEVs are generally more popular due to their larger battery capacities, greater availability, and higher efficiency in this application.

Request A Free Detailed Sample on Bidirectional Electric Vehicle Charger Market!

Domestic Segment Expected to Dominate the Bidirectional Electric Vehicle Charger Market Based on Deployment of Chargers

Domestic bidirectional chargers are gaining popularity for several reasons. One of the main reasons is the increasing number of electric vehicles (EVs) on the road. As EV ownership continues to grow, people are looking for ways to make their vehicles more integrated into their daily lives. With bidirectional charging, EV owners can use their vehicles not only for transportation but also as a source of backup power for their homes. In case of a power outage or surge in energy demand, the EV battery can provide power to the home. Another reason for the popularity of domestic bidirectional chargers is the need to manage and balance electricity grids. Bidirectional charging allows vehicles to supply power back to the grid at times of high demand, reducing the load on the grid and making it more sustainable. This can also provide a source of revenue for the EV owner, who can earn money by selling excess energy back to the grid. Finally, the cost of domestic bidirectional chargers is decreasing, making them more accessible to a wider range of consumers. As more people adopt bidirectional charging, this technology is likely to become even more popular in the future.

Europe to be the Biggest Market in the Bidirectional Electric Vehicle Charger Market

Europe is currently the leading and biggest market in the bidirectional electric vehicle charger market, and there are several reasons why this is the case. Firstly, European governments have set ambitious targets for reducing carbon emissions, which has created a strong demand for electric vehicles. Bidirectional charging can help to support the integration of renewable energy and improve the stability of the grid by enabling electric vehicles to exchange energy with the grid during periods of high demand, thereby reducing the need for fossil fuel-powered backup generators.

European energy regulators have been supportive of bidirectional charging technology, and the regulatory framework has been designed to encourage its deployment. For example, in the Netherlands, the grid operator TenneT has launched a project to deploy bidirectional chargers across the country, with the goal of providing a flexible and scalable platform for managing the growing number of electric vehicles on the grid.

European automakers have been at the forefront of developing bidirectional charging technology. In 2018, Nissan launched the Leaf, which is the first electric vehicle capable of bidirectional charging. Other automakers such as BMW, Volkswagen, and Renault have also released bidirectional charging applications, highlighting the shift towards creating more sustainable transportation solutions.

European consumers have shown a greater willingness to adopt electric vehicles and bidirectional charging technology. The growth in EV ownership has been driven by various factors, including government subsidies, low taxation for EVs, and increasing consumer awareness of the benefits of electric vehicles. In conclusion, Europe's strong regulatory framework, supportive government policies, growing market demand, and automakers' investments in bidirectional charging technology make it the leading and biggest market in the bidirectional electric vehicle charger market. Europe is likely to continue to lead the way in the development and adoption of this technology and will play a vital role in the global transition to sustainable transportation systems.

Download Our ToC: Click Here!

Competitive Landscape

To gain market share, major bidirectional electric vehicle charger companies are making various kinds of strategic moves. Some key highlights from BIS Research with respect to manufacturers of the bidirectional electric vehicle charger market are as follows:

• Hyundai Mobis Co. Ltd., Siemens AG, Denso Corporation, Fermata Energy, and ABB are some of the leading players globally.
• Wallbox Chargers, S.L., The Mobility House GmbH, and Power Research Electronics B.V. are some of the emerging private companies.
• Partnerships, collaborations, and joint ventures have been the most preferred strategy in the market.
• Apart from partnerships, collaborations, and joint ventures, expanding business and new product launches are the other strategies being implemented.
• Most of the players have tie-ups with various autonomous vehicle OEMs.

As the automotive industry continues to innovate and embrace technological advancements, the market for Advanced Driver Assistance Systems (ADAS) and Autonomous Sensor Maintenance Equipment is rapidly expanding. These systems have become integral in enhancing vehicle safety, reducing accidents, and laying the foundation for fully autonomous vehicles. 

The global ADAS and autonomous sensor maintenance equipment market was valued at $2,704.7 thousand in 2022, and it is expected to grow at a CAGR of 49.68% and reach $1,52,666.5 thousand by 2032.

Autonomous vehicles are increasingly growing in demand, owing to benefits such as increased vehicle and driver safety features, enhanced fuel/battery power efficiency, no road traffic congestion, and accessibility to driving for all, including people with certain disabilities and others. Vehicles equipped with level 1 and level 2 autonomous driving capabilities are already on roads in most of the automotive markets. Some developed markets have also launched or planned to launch vehicles with level 3 autonomy this year (2023). The autonomous vehicle industry has also witnessed a rapid growth of autonomous driving companies, such as Waymo LLC, Cruise LLC, and Zoox, Inc., over the past five years (2018-2023). Most of these companies have identified robotaxis as the most viable option for introducing autonomous vehicles in a profitable and sustainable manner.

Passenger Vehicles to Dominate the Global ADAS and Autonomous Sensor Maintenance Equipment Market (by Vehicle Type)

On the basis of vehicle type, the ADAS and autonomous sensor maintenance equipment market has been categorized into passenger vehicles, commercial vehicles, and robotaxis. Among the three vehicle types, the passenger vehicles segment is expected to have the fastest growth during the review period. The passenger vehicles segment is expected to continue dominating the market during the forecast period.

Most of the developments in autonomous driving technologies are being witnessed in the passenger vehicles segment, as automotive OEMs continue to work on the development of passenger vehicles with higher levels of autonomy. Commercial vehicles and robotaxis are also likely to witness significant growth in terms of revenue generation in the coming years during the forecast period.

Electric Vehicle to Lead the Global ADAS and Autonomous Sensor Maintenance Equipment Market (by Propulsion Type)

Based on the propulsion type, the ADAS and autonomous sensor maintenance equipment market has been segmented into electric vehicles and internal combustion engine vehicles. As the automotive industry is currently being driven by electrification and autonomous driving technologies, the demand for sensor maintenance equipment for electric vehicles is likely to be higher as compared to their internal combustion engine counterparts.

Request A Free Detailed Sample on ADAS and Autonomous Sensor Maintenance Equipment Market!

Automotive OEMs are increasingly focusing on the development of electric vehicle offerings that come with autonomous driving technologies. Therefore, the electric vehicle segment is expected to grow at the fastest rate during the forecast period.

Level 3 to be Dominant in the Global ADAS and Autonomous Sensor Maintenance Equipment Market (by Level of Autonomy)

Based on the level of autonomy, the ADAS and autonomous sensor maintenance equipment market has been categorized into level 1, level 2, level 3, level 4, and level 5. Among the five levels of autonomy (level 1 to level 5), the demand for sensor maintenance equipment for vehicles with level 3 autonomy is expected to be the highest by 2032. Much of this can be ascribed to the growing number of vehicle models with level 3 autonomy and increasing penetration of level 3 autonomy in new vehicle models by leading automotive OEMs.

Fluids and Air Jet to have the Largest Share in the Global ADAS and Autonomous Sensor Maintenance Equipment Market (by Product Type)

On the basis of product type, the ADAS and autonomous sensor maintenance equipment market has been segmented into fluids, fluids and wiper blade, fluids and air jet, and others. The fluids and air jet segment is expected to witness significant growth during the forecast period and is likely to become the dominant segment by 2032. Fluids and air jet sensor maintenance equipment is increasingly being seen as the most feasible sensor maintenance equipment among other product types by automotive OEMs and autonomous vehicle-based businesses. As the number of sensors continues to grow in new autonomous vehicle models being offered by automotive OEMs, other existing sensor maintenance equipment such as fluids and fluids and wiper blade are becoming less effective owing to their more complex design, making fluid and air jet the most preferred option among various product types.

China to Register the Highest Growth in the Global ADAS and Autonomous Sensor Maintenance Equipment Market

The ADAS and autonomous sensor maintenance equipment market is expected to witness significant growth in the coming years, with major contributions from North America, China, and Europe regional markets. In terms of revenue generation, the North America market is one of the key regions in the ADAS and autonomous sensor maintenance equipment market. Much of this can be attributed to comparatively faster testing and adoption of new sensor maintenance equipment technology and the growing number of autonomous vehicle-based businesses in the region.

However, it is China along with Asia-Pacific region, that is likely to register the highest growth in the coming years during the review period. With China being the largest vehicle manufacturer and increasing integration of advanced autonomous driving technologies into newer vehicle models by automotive OEMs, the need for sensor maintenance equipment is likely to be the highest here among all the other regions.

Access Now: Get A Detailed Insights on Autonomous Vehicle Market Research Reports

Competitive Landscape

Major ADAS and autonomous sensor maintenance equipment providers are undertaking a variety of strategic efforts, primarily including partnerships and collaborations and product developments, to gain significant market share.

The following are some key highlights in terms of major ADAS and autonomous sensor maintenance equipment providers:

• Röchling SE & Co. KG, Continental AG, Valeo, and Kautex Textron GmbH & Co. KG, are some leading players globally.

• A Raymond Network, Actasys, Inc, and dlhBOWLES are some emerging companies.

• Partnerships, collaborations, and joint ventures have been the most preferred strategies in recent years.

• Product developments and mergers and acquisitions are the other strategies being implemented.

In the ever-evolving landscape of technology, the integration of robotics has been a game-changer across various industries. One crucial component driving this revolution is the Robotic Smart Motors market. These sophisticated motors are not only transforming the way machines operate but are also opening up new possibilities in automation, efficiency, and overall system performance.

The global supersonic and hypersonic aircraft market was valued at $4,137.3 million in 2021, and it is expected to reach $5,400.4 million by 2032, growing at a CAGR of 2.73% during the forecast period 2022-2032. Robotic Smart Motors are advanced electromechanical devices equipped with intelligent control systems that enable them to operate autonomously and adapt to changing conditions. These motors are designed to enhance precision, efficiency, and reliability in a wide range of applications, from manufacturing and healthcare to logistics and beyond.

Supersonic Aircraft

Supersonic aircraft, which fly at speeds exceeding the speed of sound, have captivated our imaginations for decades. Iconic aircraft like the Concorde once offered commercial supersonic travel, but they were retired in the early 2000s due to high operating costs and noise pollution concerns. Today, there's a resurgence of interest in supersonic passenger aircraft, driven by advancements in technology and environmental concerns.

Several companies, such as Boom Supersonic and Aerion Supersonic, are developing supersonic commercial airliners with quieter and more fuel-efficient engines. These new aircraft promise to significantly reduce travel time on long-haul routes, potentially bringing supersonic flight back into the mainstream.

Hypersonic Aircraft

Hypersonic flight is the next frontier in aviation. These aircraft travel at speeds exceeding Mach 5, making them incredibly fast. While hypersonic technology has been in development for years, recent breakthroughs in materials, propulsion, and aerodynamics are bringing us closer to practical applications.

Hypersonic vehicles have a wide range of potential uses, from military applications like rapid missile delivery to civilian uses like ultra-fast passenger travel. The commercialization of hypersonic flight could revolutionize international travel, reducing flight times from hours to minutes.

Supersonic and Hypersonic Aircraft Market by Application

• Military

• Commercial

During the projected period, it is anticipated that defense agencies will play a pivotal role in shaping the global supersonic and hypersonic aircraft market. The heightened demand for military applications of these advanced aircraft takes the lead, driven by initiatives to modernize aging fighter fleets and bolster the capabilities of defense forces through the development of cutting-edge hypersonic technologies.

Request A Free Detailed Sample on Supersonic and Hypersonic Aircraft Market!

The supersonic and hypersonic aircraft market is driven by several key factors:

1. Demand for Speed: Time is a precious commodity, and both passengers and military forces are seeking faster transportation options. Supersonic and hypersonic aircraft cater to this need for speed, offering reduced travel times and enhanced operational capabilities.

2. Environmental Concerns: New aircraft in development are designed to be more fuel-efficient and environmentally friendly than their predecessors. This focus on sustainability aligns with the global push for greener aviation.

3. Economic Potential: The commercial aviation industry is eager to tap into the market for high-speed passenger travel. If supersonic and hypersonic aircraft become economically viable, they could capture a substantial share of the air travel market.

4. Military Applications: Hypersonic technology holds significant promise for military applications, such as rapid strike capabilities and missile defense. Governments worldwide are investing in this technology for national security purposes.

Recent Developments in Global Supersonic and Hypersonic Aircraft Market

• In August 2022, American Airlines signed a multi-billion-dollar prebook order for Boom Supersonics’ Overture Aircraft, a supersonic 70-passenger jet that is expected to enter the commercial aviation market by 2029.

• In November 2021, Hypersonix Launch Systems Limited completed the development of its DART AE hypersonic drone. DART uses a hydrogen fuel-based scramjet engine called SPARTAN that provides air-breathing thrust to the drone up to Mach 12.

• In June 2021, Reaction Engines Ltd. completed the testing for its SABRE engine. This unique engine is being developed to provide thrust from the ground and up to the speed of Mach 5.4 without any additional propulsion unit. The successful demonstration of this air-breathing engine has been followed by partnership agreements and contracts to develop a hypersonic flight-capable aircraft around the SABRE engine.

Concluction:

The Robotic Smart Motors market is at the forefront of technological innovation, transforming industries and paving the way for a more automated and efficient future. As these motors continue to evolve and find new applications, their impact on various sectors will undoubtedly shape the next era of technological progress.

Access Now: Get A Detailed Insights on Aircraft and Drones Market Research Reports

Scope of the Study

The supersonic and hypersonic aircraft market has gained significant importance over the past few years. The market research study offers a wide perspective on the different segments segregated based on application, subsystems, and speed regimes pertaining to the supersonic and hypersonic aircraft market and analyzes its impact on different regions by providing critical insights into the direction of its future expansion. The research study is based on extensive primary interviews (in-house industry players, market leaders, and experts) and secondary research (a host of paid and unpaid databases), along with analytical tools to predict the forecast analysis for the study period.

Defense Outlook refers to the projected or anticipated trends, strategies, and expectations within the realm of defense and military affairs. It encapsulates an analysis of potential threats, geopolitical shifts, military capabilities, budget allocations, technological advancements, and policy frameworks. This comprehensive perspective offers insights into the evolving landscape of defense, enabling nations, defense industries, and security stakeholders to anticipate challenges, prepare for emerging threats, and strategically plan resource allocation. The Defense Outlook serves as a crucial tool for governments, defense agencies, and industry leaders to navigate uncertainties, shape policies, and enhance preparedness in safeguarding national security interests.

The global defense outlook showcases the defense budget of 30 countries for the period 2023-2033. The cumulative defense budget is valued to be $29,031.67 billion for the period 2023-2033. The global defense market is expected to be driven by geo-political activities, technological investment in autonomous and cyber capabilities, the emergence of public and private defense industries, and contracts by the national governments, among other factors.

Technology and Modern Warfare: Advancements in technology continue to redefine modern warfare. The Defense Outlook closely monitors innovations in artificial intelligence, quantum computing, unmanned systems, cyber capabilities, and space technologies. These advancements offer new opportunities but also pose challenges related to ethical considerations, cybersecurity vulnerabilities, and the need for rapid adaptation to technological disruptions.

Budgetary Constraints and Resource Allocation: Balancing defense expenditures with other national priorities remains a critical challenge. The Defense Outlook involves assessing budgetary constraints and optimizing resource allocation to enhance military capabilities while addressing socio-economic needs. Efficiency in spending and prioritizing investments in critical defense sectors are vital components of a sustainable Defense Outlook.

Today’s defense market is characterized by a number of trends and challenges. One major trend is the increasing emphasis on technology and innovation, particularly in areas such as cyber defense, unmanned systems, and advanced sensors. Another trend is the growing importance of international cooperation and collaboration as defense companies seek to expand their global reach and leverage the expertise and capabilities of their partners around the world. At the same time, the defense market is also facing a number of challenges, including changing geopolitical dynamics, budgetary pressures, and shifting customer requirements.

Request A Free Deatiled Sample on Defense Outlook!

North America Expected to Lead the Overall Defense Budget Over the Forecast Period 2023-2033

North America has historically been a major player in the global defense market, The region is home to some of the world’s largest defense contractors, such as Lockheed Martin, Boeing, and Raytheon, which have extensive experience and expertise in the design, development, and production of military hardware and software.

To maintain its leadership position, North America will continue investing in research and development to develop cutting-edge technologies such as artificial intelligence, autonomous systems, and cyber defense. It will also continue developing strong partnerships and alliances with other countries to share expertise, resources, and intelligence.

Furthermore, North American defense contractors will need to be proactive in identifying emerging market trends and responding quickly to changing customer demands. This may require them to focus on diversification, innovation, and cost-effectiveness while also maintaining high levels of quality and reliability.

Overall, North America’s leadership in the global defense market will depend on its ability to stay ahead of the curve and adapt to changing market conditions and technological advancements.

Competitive Landscape

The competitive landscape of the global defense market consists of several organic and inorganic business strategies and is shaped by a range of factors, including market segmentation, customer preferences, strategic partnerships, market concentration, and technological innovation.

Download Our ToC: Click Here!

Some of the key players in the global defense market, such as Boeing, Lockheed Martin, Raytheon Technologies, Northrop Grumman, and General Dynamics, are able to navigate through these factors effectively, making them better positioned to strategically succeed in this dynamic and rapidly evolving industry.

Key Questions Answered in this Report:

• What are the trends in the defense industry, and how is defense spending expected to change over the forecast period 2023-2033?

• What are the key drivers and challenges for the defense industry?

• What will be the growth trend of the defense industry over the forecast period 2023-2033?

• What are the existing and emerging opportunities to expand businesses in the defense industry?

• What are some of the key business and corporate strategies implemented by the key defense industry participants?

• Which region is expected to lead in the defense budget?