Hesai Technologies Strong Growth Signals a Bright Future for TOF Lidar
In recent years, with the rapid advancement of intelligent driving technology, the LiDAR industry has entered a high-growth phase. Particularly, Time of Flight (TOF) LiDAR has been gradually emerging as a core sensor in autonomous driving and robotics. As a global leader in LiDAR technology, Hesai Technologies (NASDAQ: HSAI) continues to drive industry transformation with its strong financial performance and market leadership. The company has become the world’s first and only publicly traded LiDAR company to achieve full-year profitability. According to its latest financial report, Hesai's total LiDAR shipments reached 501,889 units in 2024, marking a 126.0% year-over-year growth, demonstrating the robust demand for high-performance LiDAR products.
LiDAR Market Booms as Hesai Solidifies Its Leadership
In 2024, Hesai Technologies not only doubled its deliveries for the fourth consecutive year but also achieved a major international breakthrough. The company secured a multi-year exclusive nomination from a top European automaker, covering multiple models, including internal combustion engine (ICE) and electric vehicles (EVs). This deal represents the largest pre-installed LiDAR order in overseas mass production history, further reinforcing Hesai’s leading position in the global market.
In the domestic market, Hesai’s ADAS (Advanced Driver Assistance Systems) LiDAR has been widely adopted by automakers, enabling large-scale deployment of urban NOA (Navigation on Autopilot) and active safety functions. It has become the "safety airbag" for high-level intelligent driving. According to statistics, ADAS LiDAR shipments reached 456,386 units in 2024, a year-over-year increase of 134.2%, reflecting the growing demand for ADAS and its expanding role in the intelligent vehicle ecosystem.
TOF LiDAR: The Core of the Smart Mobility and Robotics Revolution
Time-of-Flight (TOF) LiDAR has become a dominant technology in the market due to its high precision, long-range capabilities, and real-time performance. It is now widely adopted in autonomous driving, robotics, and industrial automation. Hesai’s TOF LiDAR stands out with its self-developed, chip-level solutions, offering industry-leading cost efficiency, performance, and mass production capabilities, making it the preferred choice for numerous automakers and robotics companies.
TOF LiDAR: The Standard Sensor for Autonomous Driving
Traditional camera-based Advanced Driver Assistance Systems (ADAS) and millimeter-wave radar face limitations in complex lighting and weather conditions. TOF LiDAR enables advanced driver-assistance systems with precise three-dimensional environmental perception, allowing for the real-time generation of high-precision point cloud maps. This significantly enhances a vehicle’s ability to make safe and accurate driving decisions. In 2025, the penetration rate of LiDAR in L2+ autonomous driving vehicles is expected to increase significantly, further solidifying its position as a standard feature in intelligent vehicles.
Robotics Industry: The Next Growth Driver for TOF LiDAR
Beyond the automotive sector, the robotics industry is becoming a major growth area for TOF LiDAR. Hesai estimates that in 2025, LiDAR shipments in the robotics sector will reach 200,000 units, covering applications such as logistics robots, autonomous delivery vehicles, warehouse robots, and security robots. Thanks to its high-precision distance measurement and superior navigation capabilities, TOF LiDAR is accelerating the adoption of intelligent robots across various industries.
3. Expanding Global Presence with Strategic Partnerships
Hesai’s continued success in international markets is particularly noteworthy. Its recent strategic partnership with a leading European automaker not only reinforces global confidence in Chinese LiDAR technology but also lays a strong foundation for further expansion. As global automakers increasingly adopt advanced driver assistance systems (ADAS) and autonomous driving solutions, TOF LiDAR is set to experience unprecedented growth worldwide.
2025 Outlook: An Industry at an Inflection Point
With the rapid expansion of the global autonomous driving and robotics industries, Hesai Technologies has set ambitious growth targets for 2025:
- Total LiDAR shipments expected to surge 2-3 times, reaching 1.2 to 1.5 million units.
- Revenue is projected to reach between ¥3 billion and ¥3.5 billion, marking a 30-fold year-over-year increase in Non-GAAP net income.
- Robotics LiDAR shipments alone are expected to reach nearly 200,000 units.
With its strong focus on technological innovation, mass production capabilities, and global market expansion, Hesai Technologies remains the industry leader and a key driving force behind the rapid growth of TOF LiDAR technology. The market outlook for TOF LiDAR in 2025 and beyond is exceptionally promising, propelling the industry towards a new era of intelligent automation.
Conclusion: TOF LiDAR Paving the Way for a Smarter Future
Hesai Technologies has firmly established itself as an innovator and leader in the global LiDAR market. With its rapid international expansion, increasing adoption by leading automakers and robotics companies, and a strong financial foundation, Hesai is shaping the future of TOF LiDAR. From autonomous driving to robotics applications, LiDAR technology is becoming an essential perception tool for the intelligent world. Looking ahead to 2025, the market for TOF LiDAR is poised for explosive growth, driving the entire industry into a new era of technological advancement.
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