Global Lidar Market Size, Share, Growth Analysis, By Product(Airborne, Terrestrial), By Application (Corridor Mapping, Engineering), By Component (GPS, Navigation (IMU)), By Technology(2d LiDAR, 3d LiDAR) - Industry Forecast 2022-2028

The Global LiDAR market is segmented based on Product, Application, Component, Technology, Type and Region. Based on Product it is categorized into: Airborne, Terrestrial, Mobile & UAV. Based on Application it is categorized into: Corridor Mapping, Engineering, Environment, Exploration, ADAS, Others. Based on Component it is categorized into: GPS, Navigation (IMU), Laser Scanners, Others. Based on Technology it is categorized into: 2D LiDAR, 3D LiDAR, 4D LiDAR. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Product Type

Based on Product type, The airborne segment accounted for the largest share of the LiDAR Market, which is expected to grow during the forecast period due to the increased adoption of aerial mapping devices. Aerial LiDAR is a precise and comprehensive method of creating digital elevation models, which has largely replaced photogrammetry. When compared to terrestrial counterparts, this system provides greater accuracy and a larger coverage area. It provides more extensive area mapping in shorter time intervals. Terrestrial LiDAR is used on the Earth's surface and can be both mobile and stationary. For monitoring, conventional topography, forensics, and cultural heritage documentation, stationary terrestrial scanning is a popular survey method. Mobile and UAV LiDAR work on the Earth's surface and in the surrounding environment in both mobile and aerial modes.

Analysis by Application

In 2021, the corridor application segment held the largest LiDAR Market share. The ADAS application is expected to grow at a fastest pace, with a CAGR of 18.4%, due to the increasing incorporation of LiDAR-based sensors in a variety of automotive safety applications. The corridor mapping application is expected to grow moderately, but its overall LiDAR Market share will decrease during the forecast period. Low-speed collision avoidance systems and driver assistance systems are expected to be popular technologies. The integration of map-enabled systems also opens up new application possibilities, such as lane departure systems, driver assistance systems, and intelligent front lighting systems enabled by the united adaptive front lighting.

Based on regional analysis, North America accounted for the largest revenue share in 2021. The region is using LiDAR technology for several applications such as urban planning, environment monitoring, weather forecasts, etc. Estimates also state that the adoption of technology in the heavy and lightweight automobile will also increase in the region, thus boosting the further LiDAR Market growth. The second position is bagged by the Asia Pacific that will see a growth rate of 20% between 2022-2028. The LiDAR Market in this region is growing opportunities for use in various sectors such as agriculture, corridor mapping, etc. India, China, and Japan will emerge as the hubs of drone technology and thus promote the growth of LiDAR technology.

Driver

• The extent and scope of engineering and civil construction operations throughout the world have grown drastically to service an ever-increasing population, particularly in emerging nations. Technology is becoming increasingly important in all aspects of building activity, from surveying and mapping to project feasibility evaluations. LiDAR technologies can give an accurate and simple scan of big regions. Furthermore, laser scanners led by global positioning systems and very sensitive cameras assist engineers in conducting precise feasibility studies and preparing designs that meet project criteria. This has resulted in the expansion of various LiDAR service providers.
• LiDAR maps the earth's surface using fast laser pulses. The growing use of LiDAR-based unmanned aerial vehicles (UAVs) opens up new options for surveying applications that may be completed at a lower cost than manual surveying methods. The growing usage of unmanned aerial vehicles (UAVs) has given a boost to airborne LiDAR-based surveying and mapping applications. Unmanned vehicle-mounted LiDAR systems not only give mobility and adaptability, but also allow them to reach terrains and conditions where people cannot. Professionals are increasingly using unmanned aerial vehicles (UAVs) for low-altitude photography, landscape mapping, and surveying.
• LiDAR has been one of the most essential instruments utilized in the commercial drone business in recent years to acquire high-quality and accurate assessment data. With the growth of automation in various sectors, which reduces the need to employ labor forces and saves time, will increase the demand for the LiDAR Market. Technological advancements in various LiDAR resolutions can be used efficiently for different purposes such as change identification of water runoff in agriculture or mining sites. Apart from these conventional applications, the product is also used in weather and environment forecasting and monitoring. For instance, in Canada, LiDAR is used to measure tropospheric pollution.

Restraint

• The use of low-cost and lightweight photogrammetry systems for mapping and surveying applications is expected to limit the LiDAR market's growth. LiDAR drones detect objects on the ground with active sensors and emit laser beams to evaluate their distance from the targets on the ground. Photogrammetry systems, on the other hand, use images transferred from 2D and 3D carto metric models to create depth perception of objects on the ground, allowing users to view and measure the distance between objects in 3D. The final output of LiDAR drone surveys is a 3D point cloud, which depends on the characteristics of the sensors deployed on these drones as well as flight parameters such as LiDAR drone flight altitude. The data collected by LiDAR sensors produces a monochrome dataset that is difficult to interpret. Photogrammetry systems allow for the creation of fully colored 2D or 3D models that can be easily visualized and interpreted. In terms of data acquisition and processing speed, LiDAR drones outperform photogrammetry systems. LiDAR drones, on the other hand, are more expensive than photogrammetry systems.

The LiDAR Market various competitors are challenged to provide innovative offerings that enable communication in addressing changing technologies, business practices, and security needs. A large number of prominent players are based in Europe and are involved in providing advanced solutions to meet the needs of a wide range of applications. The current market environment is characterized by intense competition among key players for LiDAR Market dominance through improved quality and product differentiation, allowing for growing LiDAR Market consolidation through strategic initiatives such as alliances, mergers, and acquisitions. Industry participants have formed strategic alliances with suppliers and distributors to expand their product portfolio and geographical presence.

Top Player's Company Profiles

• Leica Geosystems AG (Sweden)
• Trimble Inc. (US)
• Teledyne Optech (Canada)
• FARO Technologies Inc. (US)
• RIEGL Laser Measurement Systems GmbH (Austria)
• Sick AG (Germany)
• Quantum Spatial (US)
• Beijing SureStar Technology Co. Ltd. (China)
• Velodyne LiDAR Inc. (US)
• YellowScan (France)

Recent Developments

• In May 2022, Hyundai Motor Group and SOSLAB, a South Korean firm, signed a memorandum of understanding (MOU) to collaborate on the development of LiDAR sensors for mobile robots. Hyundai's Mobile Eccentric Droid (MobED) was launched in December 2021, and the goal is to produce a high-resolution 3D LiDAR for autonomous navigation performance optimization.
• In May 2022, Flyability unveiled the Elios 3, the world's first collision-tolerant drone with an indoor 3D mapping LiDAR sensor. The drone is powered by a new SLAM engine called FlyAware, which generates 3D models as it flies, and it comes with Flyability's Inspector 4.0 software.

• The ongoing COVID-19 pandemic has affected the business of key players in the LiDAR market. Both the producers and the end consumers of the market had to suffer owing to the lockdowns and various other measures undertaken by the authorities. As LiDAR technology is used in mining and exploration activities, especially within the oil and gas industry, this industry was affected largely. Thus, the region of the Middle East has been the most affected as it is a dominant producer of oil. The demand and price of oil declined due to the travel restrictions, which reduced the demand for the LiDAR technology.
• Another trend that is ongoing in the LiDAR Market is the growth of start-ups, mainly because of the investments from automobile giants. The automotive sector is now at the forefront to adopt and demand LiDAR technology for different applications. Within the automotive industry, LiDAR technology can be used in driverless taxis, carpooling, ride-hailing services, and mobility-on-demand services. There is a rising trend among car manufacturers to produce autonomous and driverless cars. Therefore, they are making huge investments in startups such as Uber, Lyft, etc. These investments are estimated to drive the LiDAR technology. For instance, in 2019, the two giants of the automobile industry, Volkswagen and, Ford entered into a collaboration with Argo AI. The startup will provide car-sharing and autonomous taxi services.
• The usage of low-cost and lightweight photogrammetry devices for mapping and surveying applications is projected to limit the LiDAR market's growth. LiDAR drones detect things on the ground using active sensors and produce laser beams to determine their distance from the targets on the ground. Photogrammetry systems, on the other hand, employ photos transferred between 2D and 3D cartometric models to construct depth perception of items on the ground, allowing users to observe and quantify the distance between objects in 3D.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

Skyquest has identified that the LiDAR uses rapid laser pulses to map the surface of the earth.  The growing use of LiDAR-based unmanned aerial vehicles (UAVs) opens up new opportunities for surveying applications that can be completed at a lower cost than manual surveying methods. The growing use of unmanned aerial vehicles (UAVs) has given a boost to airborne LiDAR-based surveying and mapping applications. Unmanned vehicle-mounted LiDAR systems not only provide portability and versatility but also allow them to reach terrains and situations that humans cannot. Professionals are increasingly using unmanned aerial vehicles (UAVs) for low-altitude photography, terrain mapping, and surveying. LiDAR has become one of the most important tools used in the commercial drone industry in recent years to capture high-quality and accurate evaluation data.