LiDAR market set for 43% CAGR
And because lidar is closely connected with ADAS the growth is set to continue until 2032 with a $28 billion in the automotive segment alone. Robotics and drones are also a key area for lidar deployment. “In the past two years, more than $800 million has been invested in lidar companies,” Yole analyst Alexis Debray, in statement.
Blackmore Sensors and Analytics Inc. (Bozeman, Montana), founded in 2015, has raised a Series A round of funding worth $3.5 million to develop its frequency modulated continuous wave (FMCW) lidar engine and recently received $18 million from BMA and Toyota (see Startup raises funds for lidar development). Quanergy Systems Inc., launched in 2012, received $180 million in 2017.
There is a diverse set of technology approaches to lidar. Most current products use mechanical scanning of a high intensity laser at a wavelength of 830nm to 940nm. The mechanical scanners are getting replaced by MEMS scanners. The next step is to go solid-state with an optical phased-array, as proposed by Quanergy. Some companies are investigating the 1550nm wavelength, at which a higher power laser can be used, because the laser maximum’s permissible exposure is roughly 100 times higher. These players include Blackmore, Neptec, Aeye, and Luminar.
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