LiDAR Market Segmentation by Technology (2D, 3D, 4D); by Component (Laser Scanners, Navigation and Positioning Systems, and Others); by Installation Type (Airborne and Ground-Based); by Range (Short, Medium and Long); by Service (Aerial surveying, Asset Management, GIS Services, Ground-based Surveying, and Others); by End-Use Application (ADAS and Driverless Cars, Engineering, Environment, Corridor Mapping, Exploration, Urban Planning, Meteorology, and Others)-Global Demand Analysis and Opportunity Outlook 2022-2030

Global LiDAR Market Highlights over 2022-2030

The global LiDAR market was estimated to be valued at approximately USD 2 billion in 2021 and is expected to further expand at a CAGR of 14% over the forecast period, i.e, 2022-2030. The growth of the market can be attributed to the ever-growing adoption of LiDAR systems in manufacturing practices, engineering, and UAVs. The growing use of LiDAR in geographical information systems (GIS) applications, rapid increase in investments by automotive businesses in LiDAR technology, and moderation of laws related to the use of commercial drones in various applications are further driving the growth of the market.

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With the COVID-19 pandemic, almost every industry got affected, along with its end-users. The LiDAR industry, however, gained significant traction. As the government-imposed lockdowns started getting lifted up, manufacturers started to repurpose their LiDAR-powered solutions for monitoring and analyzing crowd density in public spaces. This let many public place authorities, such as in subways, malls, theatres, etc., monitor and mitigate crowding and congestion, and maintain safe distancing within their premises. Furthermore, the emergence of new sinks and taps, equipped with the power of 3-D LiDAR technology, along with vision and machine learning, help detect incorrect hand-washing behaviors. LiDAR has also been trained and implemented to detect patients who might slip and fall, fall unconscious in a hospital bathroom, fall out of bed, or fail to practice proper social distancing protocols, and increase response times in emergencies via real-time alerts. These factors have broadened the application of LiDAR, significantly boosting the growth of the market further.

However, high expenses for LiDAR services, safety hazards offered by UAVs and autonomous cars, and easy access to less costly and insubstantial photogrammetry systems are restraining the growth of the market.

The market is segmented by technology into 2D, 3D, and  4D, out of which, the 3D segment is anticipated to hold the largest share of the market and witness significant growth over the forecast period owing to their widespread adoption in various different applications, such as environment, corridor mapping, engineering, and meteorology.

Based on installation type, the market is segmented into airborne and ground-based, out of which, the ground-based segment is estimated to hold the largest share of the market by growing at the highest rate over the forecast period. The growth of the segment is attributed to being cost-effective, and their ability to scan large areas easily.

Global LiDAR Market Regional Synopsis

Regionally, the global LiDAR market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America is expected to hold the largest market share over the forecast period owing to growing awareness regarding the key advantages of LiDAR, and the rapid increase in companies investing in driverless cars and advanced driver-assistance systems (ADAS).

Market Segmentation

Our in-depth analysis of the global LiDAR market includes the following segments:

By Technology

• 2D

• 3D

• 4D

By Component

• Laser scanner

• Navigation and Positioning Systems

• Others

By Installation Type

• Airborne

• Ground-based

By Range

• Short

• Medium

• Long

By Service

• Aerial Surveying

• Asset Management

• GIS Services

• Ground-based Surveying

• Others

By End-Use

• ADAS and Driverless Cars

• Engineering

• Environment

• Corridor Mapping

• Exploration

• Urban Planning

• Meteorology

• Others

Growth Drivers and Challenges Impacting the Growth of the Global LiDAR Market

Growth Drivers:

• Ever-growing adoption of LiDAR systems in manufacturing practices, engineering, and UAVs

• Growing use of LiDAR in GIS applications

• Rapid increase in investments by automotive businesses in LiDAR systems

• Moderation of laws related to the use of commercial drones in various applications

Challenges:

•  High expenses of LiDAR services

• Safety hazards offered by UAVs and autonomous cars

• Easy access to less costly and insubstantial photogrammetry systems

Key Companies Dominating the Growth of the Global LiDAR Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global LiDAR market that are included in our report are Teledyne Optech, RIEGL Laser Measurement Systems GmbH, Trimble, Inc., Velodyne LiDAR, Inc., Leica Geosystems AG, FARO, NV5 Global, Inc., Quanergy Systems, Inc., Innoviz Technologies Ltd., Sick AG, and others.

Latest Developments in the Global LiDAR Market

July 2021: Continental AG extended its integrated Automated Driving (AD) platform for passenger and commercial vehicles with AEye, Inc.’s, long-range, high-performance LiDAR technology for a full-stack automated and autonomous solution.

February 2021:  Leica Geosystems AG announced the launch of the Leica RTC360 3D laser scanner, which does not need much monitoring by the user and can give increased scanning efficiency, productivity, and flexibility when working out on reality capture tasks.

Key Reasons to Buy Our Report

• The report covers a detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact the market growth.

•  The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessments for overall growth.

• We provide customized reports as per the client's requirements helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goals.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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