HONG KONG, April 26, 2021 (GLOBE NEWSWIRE) -- MobiusTrend, the fintech market research organization, recently released a research report "WIMI Hologram Cloud's LiDAR Products May Enter the Field of Autonomous Driving, and In-Vehicle Applications and Consumer-Grade LiDAR Usher in Explosive Growth". Under the trend of smart cars and various consumption upgrades, more and more products are matched with lidar. From the market perspective, the performance of lidar in recent years has been very eye-catching, especially in autonomous vehicles. However, it cannot be ignored that lidar is not only suitable for autonomous driving. There are also a large number of applications on sweeping robots, drones, smartphones, AR, and other devices.
For now, the most popular applications of lidar in the field of the Internet of Things are autonomous driving and the Internet of Vehicles. According to foreign media reports, analyst firm TrendForce predicts that due to the development of advanced driver assistance systems (ADAS), autonomous vehicles, industry, transportation, and smart cities, the LiDAR market will grow from $682 million in 2020 to $2.9 billion in 2025. Meanwhile, ADAS and self-driving cars will be the largest source of income, followed by industry and transportation.
According to TrendForce's data, despite the impact of the COVID-19 epidemic on the automotive industry, community electric vehicles, with a maximum speed of 25mph and a maximum load of 1400 kg, are still being mass-produced. Some of these vehicles are also equipped with LiDAR, which undoubtedly increases the demand for this technology. As LiDAR is equipped on high-end traditional gasoline vehicles, self-driving buses, robotic taxis, and self-driving trucks, its demand is also growing.
According to TrendForce, there is another thing that is not well known, that is, companies are expected to have a labor shortage, so they are investing more capital in the field of automation. As the European and North American markets postponed partial automation until 2020, TrendForce expects a surge in demand for LiDAR in the third quarter of 2021.
LiDAR is an important part of self-driving cars because it can help the in-vehicle system understand whether there are obstacles that need to be avoided around the vehicle. Since the technology runs much faster than humans, vehicles using LiDAR can significantly reduce the occurrence of traffic accidents.
The penetration rate of automobile intellectualization has increased rapidly, and the global autonomous vehicles have maintained rapid growth. According to IDC's forecast, global shipments of L1-L5 autonomous vehicles in 2024 are expected to reach approximately 54.25 million, and the compound annual growth rate (CAGR) from 2020 to 2024 will reach 18.3%. Meanwhile, the market share of L1 and L2 autonomous driving in 2024 is expected to be 64.4% and 34.0%, respectively. The application of L3-L5 autonomous driving technology is of pioneering significance. Moreover, L1-L2 assisted driving will be the largest market segment that will drive the growth of global autonomous vehicle shipments in the next five years. We believe that whether it is assisted driving or autonomous driving, the increase of the perception system as a car is a certain trend, and the lidar is a smart car perception system.
According to the forecast of consulting agency Tole, the total global shipments of in-vehicle lidar (including L2-L5) in 2030 will be 23.9 million, with sales exceeding $13.9 billion. Besides, according to the data of the Transportation Bureau on January 11, 2021, the number of motor vehicles in China reached 372 million in 2020, of which 281 million are cars. If calculated according to 370 million, in China, the lidar market for assisted driving and autonomous driving in the future will gradually approach one trillion.
Compared with ultrasonic radar, millimeter-wave radar, and camera, Lidar has the advantages of long-range measurement, excellent angular resolution, and less impact on ambient light. It does not require deep learning algorithms and can directly obtain the distance and location information of objects. Solid-state lidar is generally considered by the industry to be the core sensor for high-level autonomous driving. Many autopilot manufacturers and lidar companies have launched their own solid-state lidars during this period.
Technology and intellectual property rights are "sharp blades" for moving toward the future and overcoming obstacles. As a global AI visual holographic AR company, WIMI Hologram Cloud's recent performance is also eye-catching, and it has just completed a new round of financing of $83.8 million. Recently, it won the bid for China Mobile and the media cloud platform holographic remote interaction, and it was once again selected by operators as a technology provider of 5G holographic communication. In the field of lidar, WIMI seems to be catching up with it. Since the announcement of the patent of the 3D holographic pulse laser processing device for optical holography, many industry application customers have shown strong market demand. Thus, WIMI decided to develop the 3D holographic pulse Lidar product, "WIMI HoloPulse HUD", to further expand the company's holographic product portfolio matrix.
It is said that WIMI has core intellectual property rights and is not restricted by overseas companies. It has approximately 4654 AR holographic contents, 106 software copyrights, and 180 registered patents. WIMI is committed to using holographic technology to meet the entertainment and business needs of customers and end-users.
According to some reports, WIMI focuses on holographic cloud services, mainly in vehicle-mounted AR holographic HUD, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation, and other professional fields, covering multiple links of AR technology, including holographic vehicle-mounted AR technology, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication, and so on. It is a holographic cloud comprehensive technical solution provider.
Due to the explosive demand for automotive holographic applications, WIMI Hologram Cloud will develop solutions such as holographic in-vehicle equipment, holographic in-vehicle chips, and holographic in-vehicle software to meet the needs of automotive holographic applications. WIMI is committed to holographic in-vehicle software and hardware integration solutions, and it will develop more holographic AR patents and products suitable for the automotive industry to establish more customer relationships.
Lidar is a device that uses lasers to perceive three-dimensional objects in space. It can measure the distance between the object and itself and can also perform real-time and high-precision reconstruction of the surrounding environment to obtain the precise distance and contour of the surrounding objects. It can be said that lidar is the "eye" of the machine, and it has a wide range of applications in the fields of unmanned driving, assisted driving, and robotics. Various companies have already deployed in the field of the smart car, and the spring of 2021 may also be the spring of lidar.
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