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LiDAR for autonomous small trucks market to reach USD 9.9bn by 2023: Report

LiDAR for autonomous small trucks
Wintergreen Research releases autonomous small trucks market report that estimates the market to reach to USD 9.9 billion by 2023.

US: Wintergreen Research has added the ‘LiDAR for Cars and Light Trucks’ report to its offering. The report provides market insight with regard to market shares, strategies, and forecasts from the year 2017-2023. Valuing USD 13 million in 2016, the report estimates the Autonomous Autos and Small Trucks/SUVs Market to reach to USD 9.9 billion by 2023.

This is in the context of a USD 3 trillion market for the autonomous vehicles. LiDAR represents one sensor in the autonomous navigation system. It is used to give more reliability than is available from cameras and other sensors and it compliments those capabilities. Spectacular growth is a result of various moves toward autonomous vehicles that can go across the US by themselves, provide automated navigation, integrated braking and steering. Most auto vendors have gone beyond the testing stage to offer vehicles that have strong navigation capability.

Safety modules are complimented by mapping vehicles that provide navigation. The Tesla and other vehicles provide driver alerts but fall sort of complete Artificial Intelligence (AI).

Market driving forces relate primarily to the need for increased safety and personalization for autos. Car manufacturers are positioning with LiDAR sensors for cars to meet demand at the high end, and in every category of car and light truck. Many Artificial Intelligence (AI) vehicle car vendors are making automation for personal vehicles and light trucks a reality.

This LiDAR car and truck shipment analysis is based on consideration of the metrics for the number of cars shipped, vendor manufacturing and assembly capacity, percent of cars outfitted with automated cruise control, and probable market penetrations of robot cars. Experience of testers using the cars and light trucks is another factor that contributes to development of triangulation regarding market forecasts for the sector.