For the second consecutive year, Hesai Technology is lauded as the leading automotive lidar enterprise by Yole Group, an internationally esteemed advisory and market analytics firm. The recognition follows another year of rapid growth and significant milestones for Hesai, including exceptional financial outcomes, strategic design wins, and a record-breaking number of shipments.
Why It Matters
This recent accomplishment reaffirms Hesai’s formidable position in the expanding global lidar industry. Yole Intelligence, an arm of Yole Group, has just published its “LiDAR for Automotive 2023” report, which benchmarks companies across multiple success indicators. This report reveals the swift growth of the lidar industry and confirms Hesai’s prominent position in the global market.
- Yole Intelligence estimates the global lidar market for passenger cars and robotic vehicles, including robotaxis, at approximately $317M in 2022 – a staggering 95% YoY increase predominantly driven by OEMs’ high demand in the passenger car market.
- Hesai maintains its position as the leading global automotive lidar provider with the largest market share by revenue. The company captures nearly half of the total global automotive lidar market due to strong growth momentum in both passenger car and robotaxi segments.
- Hesai also retains its leadership in the global robotic cars lidar market with an impressive 67% market share of the $147M market in 2022.
- In the rapidly expanding global passenger car lidar market, Hesai holds a 23% market share by revenue and 31% of design wins. The company, with the largest projected shipment of ADAS lidar units, holds the potential to dominate this market in 2023.
- Hesai’s customer base includes nearly all key players in the robotaxi and robotruck sectors, such as Zoox and Aurora.
Hesai Technology’s continued success in the global lidar market is a testament to its robust R&D strength, impressive fulfillment capabilities, and its capacity to produce lidar for both the ADAS and autonomous mobility markets. The company’s senior leadership express their pride in these achievements and their commitment to making roads safer for everyone. According to Yole Intelligence, Hesai’s success, combined with strong financial performance, positions them to lead the automotive lidar market this year and potentially in the future.
The lidar markets are evolving, with the passenger car lidar market outpacing the lidar market for robotaxis, driven by accelerating lidar adoption by OEMs. With the growing integration of lidar technologies in affordable vehicles, the lidar market is projected to witness an even faster growth rate.
Note: The data in this article are third-party estimates and do not represent the official operational figures of the company. Please refer to Hesai Technology’s financial report for specific information.