According to Canalys' latest report, the penetration rate of L2 and above autonomous driving functions in the Chinese market is expected to reach 62% by 2025, a significant increase from 2024, with highway NOA and urban NOA reaching 10.8% and 9.9%, respectively. It is projected that between 2027 and 2028, the growth rate of urban NOA will surpass that of highway NOA, leading to a rapid evolution of the market structure and reshaping the competitive landscape of SoCs.
Compared to cameras and millimeter-wave radars, LiDAR offers advantages such as high detection confidence, high distance accuracy, and low latency. From highway NOA to urban NOA, integrating LiDAR has become the mainstream solution. Additionally, the importance of intelligent driving in consumer decision-making is gradually increasing, with the optional rate of intelligent driving car models continuing to rise. LiDAR is becoming an indispensable sensor for enhancing the utilization rate of assisted driving, and the market is entering a period of explosive growth. Great Wall Securities pointed out that as China's policy continues to drive the development of the LiDAR industry, and as LiDAR expands into various application fields such as intelligent driving and robotics, LiDAR may witness large-scale application deployment, and investment opportunities in the relevant industry chain remain promising.
According to the theme database of Cailian Press, among the relevant publicly listed firms are:
Topband Co., Ltd. It has established a product matrix centered on the electrification and high-level intelligent driving applications of smart vehicles, with core products including LiDAR motors and charging piles. The LiDAR motors have fully entered the mass production stage and achieved stable cooperation with leading customers in the intelligent driving sector.
Sunny Optical Technology (Group) Company Limited It supplies LiDAR window lenses and other optical components for LiDAR. As a leading domestic producer of glass-based LiDAR window lenses in mass production, the company has business cooperation and communication with mainstream LiDAR producers both domestically and internationally.