BOSTON--(BUSINESS WIRE)--On August 2nd, 2002, CARIAD, the software division of the Volkswagen Group, announced it selected Innoviz and its InnovizTwo sensor to be its LiDAR of choice for ADAS (Advanced Driver Assistance Systems) and autonomous driving, in a deal worth $4 billion over 8-10 years. Therefore, Strategy Analytics, in its first market share estimates on automotive high-resolution LiDAR sensors, predicts that Innoviz will become a market leader when the first deployments are made by Volkswagen in the mid-2020s. The Autonomous Vehicle Service (AVS) service has published the report, Innoviz-Volkswagen CARIAD Deal: Second Wave of High-Resolution LiDAR Deployments, which explains the reasons behind this.
“The supply win for Innoviz heralds the “second wave” of LiDAR supply into automotive,” says Kevin Mak, principal analyst in the Global Automotive Practice (GAP). “This follows smaller deals won by Cepton from General Motors and Luminar from Nissan, Mercedes and Volvo, some of which will start deployments in 2023. However, the CARIAD-Innoviz deal is by far the largest, in terms of both value and volume.”
“It signals growing business for start-up LiDAR developers who are seeking to lower cost, through simpler designs that use single lasers and the development of production processes that realize economies of scale, which had been the case for using traditional Tier 1 vendors,” Mak adds. “But at the same time, there is no compromise on sensor performance – the reason on why LiDAR is selected for the intended applications. Potential OEM customers are also seeking a more direct access to partners knowledgeable in new LiDAR technologies.”
Source: Strategy Analytics, Inc.
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