SIASUN(300024) -·2025-02-13 10:51Summary of Conference Call on LiDAR in Robotics Industry Overview - The discussion centers around the robotics industry, specifically the integration of LiDAR technology in humanoid robots and robotic dogs, with key players including SUTENG, Hesai, Huawei, and others [3][4][5]. Key Points and Arguments - Adoption of LiDAR: Major high-end intelligent driving companies like Huawei, Li Auto, NIO, and BYD have actively adopted LiDAR as a standard configuration in the past 3 to 4 years. Humanoid robots and robotic dogs are increasingly utilizing LiDAR solutions, benefiting companies like SUTENG [3][4]. - Market Statistics: Multi-sensor fusion solutions account for 73% in humanoid robots and 60% in robotic dogs globally. The LiDAR adoption rate is over 50% for both categories, with leading companies like Figure, Tesla, and Boston Dynamics implementing these technologies [3][5]. - Technical Advantages of LiDAR: LiDAR outperforms depth cameras in terms of measurement range (up to 30-40 meters), accuracy (error less than 1 cm), and field of view (360 degrees). Depth cameras have significant limitations in these areas, restricting their application in complex environments [3][6]. - Price Trends: The price of LiDAR is expected to drop significantly to the range of 1,000-2,000 RMB, surpassing the cost advantages of depth cameras. This price reduction will facilitate broader applications of LiDAR in various robotic scenarios, enhancing their measurement capabilities [3][7]. - Future Sensor Development: The future of robotic vision sensors is likely to evolve towards a universal super sensor that integrates 2D RGB information with active measurement data from LiDAR or depth cameras. SUTENG's active camera solution, which combines LiDAR and cameras to produce colored 3D point clouds, is seen as a key to hardware standardization [3][8]. - Software Ecosystem: Following hardware integration, the next step is the establishment of an open software ecosystem. Leading companies will develop software platforms offering modular SDKs for downstream companies, exemplified by SUTENG's robot sense platform [3][9][10]. - Market Potential: The LiDAR market in robotics is still in the secondary investment phase, making precise market size estimations challenging. However, specific applications like lawnmowers indicate a potential market size of approximately $22.5 billion, with significant growth expected as costs decrease [3][11][18]. - Long-term Market Dynamics: The concentration of LiDAR in the robotics market may approach or exceed that of the automotive market. Leading manufacturers will leverage technological advancements and service demands to achieve scale effects, similar to the camera market [3][13][15]. - Investment Opportunities: Companies like SUTENG and Hesai have seen significant stock price increases, but their long-term potential in the robotics market has not yet been fully realized. The lawnmower market alone presents over 50% growth potential, indicating substantial investment opportunities [3][19][20]. Additional Important Insights - Data Barriers: The lack of sufficient 3D point cloud data on the internet poses a challenge for the next generation of LiDAR innovation. Companies that can accumulate relevant data will have a competitive advantage in training models for various applications [3][17]. - Diverse Competition: The robotics market's diversity allows multiple companies to find advantageous positions in different segments, despite the first-mover advantage held by leading LiDAR manufacturers in the automotive sector [3][12].