USD 1.5 billion
LiDAR Market Size, Share, Growth Analysis, By LiDAR Technologies(2D, 3D, 4D), By Component(Laser Scanners, Navigation & Positioning Systems (GPS, IMU), Others), Type(Mechanical, Solid-state), Installation (Airborne, Ground-based), Range, Service, End-use Application, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG45M2006 |
Region:
Global |
Published Date: June, 2024
Pages:
157
|Tables:
121
|Figures:
77
Lidar Market Insights
Global LiDAR Market size was valued at USD 1.5 Billion in 2022 and is poised to grow from USD 1.7 Billion in 2023 to USD 4.83 Billion by 2031, growing at a CAGR of 13.8% in the forecast period (2024-2031).
The tool is used in various applications such as GIS mapping, construction, engineering, archaeology, etc. This market segment is witnessing tremendous growth mainly because of small-sized sensors on vehicles, which capture images efficiently. For instance, key players such as Velodyne, RoutesceneYellowScan, and Riegl have made huge investments in making small drones. Considering the functional capabilities of each of LiDAR systems, the gadget can produce photos of the greatest quality. Hence, it's widely employed in a variety of industries, including automotive, healthcare, aerospace, and military. The growing demand for LiDAR owing to the extensive applications will contribute to the growth of the global LiDAR market in the coming years.
The ultimate result of LiDAR drone surveys is a 3D point cloud, which depends on the features of the sensors mounted on these drones as well as flight factors such as LiDAR drone flight height and distances travelled. The data acquired by LiDAR sensors produces a monochromatic dataset that is difficult to analyses. Photogrammetry technologies are helping the creation of colored 2D or 3D models that can be easily seen and understood. For the collection of data and speed processor, lidar drones surpass photogrammetry technologies. Moreover, lidar drones are more costly than photogrammetry devices. The cheap cost of photogrammetry systems can be due to the utilization of drones outfitted with a single camera to transport them. These drones’ range in price from USD 5,000 to USD 20,000. LiDAR drones require LiDAR sensors, which range in price from USD 50,000 to USD 300,000. These high-priced sensors are mounted on very dependable drones that cost between USD 25,000 and USD 50,000. As a result, the overall cost of LiDAR drones is increased by this hefty hardware. Thus, the ready availability of low-cost and lightweight photogrammetry equipment works as a barrier for the expansion of the LiDAR sector.
US Lidar Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Airborne
Fastest Growth
Airborne
Growth Rate
13.8% CAGR
Global Lidar Market ($ Bn)
Country Share for North America Region (%)
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Lidar Market Segmental Analysis
The global LiDAR market is segmented into LiDAR Technologies, Component, Type, Installation, Range, Service, End-use Application, and Region. Based on LiDAR Technologies, the market is segmented into 2D, 3D, and 4D. Based on Component, the market is segmented into Laser Scanners, Navigation & Positioning Systems (GPS, IMU), and Others. Based on Type, the market is segmented into Mechanical, and Solid-state. Based on Installation, the market is segmented into Airborne (Topographic, Bathymetric Lidar), and Ground-based (Mobile, Static). Based on Range, the market is segmented Into Short (0–200 M), Medium (200–500 M), and Long (Above 500 M). Based on Service, the market is segmented into Aerial Surveying, Asset Management, Geographic Information System (GIS) Services, Ground-based Surveying, and Others. Based on End-use Application, the market is segmented into Corridor Mapping (Roadways, Railways, Other), Engineering, Environment (Forest Management, Coastline Management, Pollution Modeling, Agriculture Mapping, Wind Farm, Precision Forestry), Adas & Driverless Cars, Exploration (Oil & Gas, Mining), Urban Planning, Cartography, Meteorology, and Others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East and Africa.
Analysis by Installation
The airborne segment is the largest segment 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.
On the other hand, the ground-based is the fastest growing segment in the LiDAR market. There is an increasing demand for ground-based LiDAR systems in applications like autonomous vehicles, smart infrastructure, and others. These help in providing accurate data for real time mapping and object detection. These are important for the development of advanced driver assistance systems (ADAS) and autonomous vehicles. The rising continuous use of the mobile LiDAR systems in mining and construction, surveying is further propelling the market growth as this required detailed ground level data.
Analysis by End-use Application
The corridor application segment held the largest market share. The corridor mapping application is expected to grow moderately, but its overall 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.
On the other hand, the ADAS and driverless cars is the fastest growing segment by end-use application in the LiDAR market and is expected to grow at a CAGR of 12.4%, due to the increasing incorporation of LiDAR-based sensors in a variety of automotive safety applications. These ADAS use cameras and LiDAR to detect the environment around them and avoid accidents. Therefore, it drives the growth of the market.
Global Lidar Market By Installation
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Lidar Market Regional Insights
North America is the largest region in the global LiDAR market. The region is using LiDAR technology for several applications such as urban planning, environment monitoring, weather forecasts, and others. The rising adoption of technology like ADAS and AEB is also increasing the market growth in the region. The government regulations are further supporting the region's growth by mandating installation of automotive safety technologies in the heavy and lightweight vehicles in this region.
On the other hand, Asia-Pacific is the fastest growing region in the LiDAR market and is expected to grow at a growth rate of 13%. The market in this region is growing opportunities for use in various sectors such as agriculture, corridor mapping, and others. India, China, and Japan will emerge as the hubs of drone technology and thus promote the growth of LiDAR technology. Due to rising investments, the market is expected to remain profitable during the forecast period. The companies are expanding their presence in Europe and Asia-Pacific to enhance customer experiences.
Global Lidar Market By Region
- Largest
- Fastest
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Lidar Market Dynamics
Lidar Market Driver
Rising Construction Sector is Driving the Market Growth
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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.
Growing Use of LiDAR-based UAVs Drives the Market
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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.
Restraints
Use of Low-cost and Lightweight Photogrammetry Systems for Mapping and Surveying Applications
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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.
Technical Challenges and Data Management
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LiDAR technology has complex data collection which requires specialized skills and infrastructure. It requires advanced data management solutions and skilled officials to interpret the data correctly. This complexity in analyzing and data integration poses hurdles to different companies as these slow down the adoption of Lidar technology especially in areas of crucial data management.
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Lidar Market Competitive Landscape
The market's various competitors are challenged to provide innovative offerings that enable communication in addressing changing technologies, business practices, and security needs. Many prominent players are based in Europe and are involved in providing advanced solutions to meet the needs of a wide range of applications.
Lidar Market Top Player's Company Profiles
- Leica Geosystems AG (Switzerland)
- Teledyne Optech (US)
- FARO Technologies Inc. (US)
- Velodyne LiDAR Inc. (US)
- Quanergy Systems, Inc. (US)
- Luminar Technologies, Inc. (US)
- LeddarTech Inc. (Canada)
- Innoviz Technologies Ltd. (Israel)
- Ouster, Inc. (US)
- Cepton Technologies, Inc. (US)
- AEye, Inc. (US)
- RoboSense LiDAR (China)
- Ibeo Automotive Systems GmbH (Germany)
- Livox Tech Co., Ltd. (China)
- Trimble Inc. (US)
- Hexagon AB (Sweden)
- Sick AG (Germany)
- Topcon Corporation (Japan)
- RIEGL Laser Measurement Systems GmbH (Austria)
- Z+F GmbH (Germany)
Lidar Market Recent Developments
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In May 2024, Lumotive and Hokuyo Automatic Co., announced the launch of YLM-10LX 3D LiDAR sensor to advance 3D sensing in industrial automation and service robotics applications.
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In March 2024, Semilux International Ltd. announced that it has started research and development with scholars in Taiwan university to develop an advanced LiDAR module for automotive applications.
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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.
Lidar Key Market Trends
- The Advancements in the Automotive Industry: Another trend that is ongoing in the 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, the two giants of the automobile industry, Volkswagen and Ford, collaborated with Argo AI. These will provide car-sharing and autonomous taxi services.
Lidar Market SkyQuest Analysis
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.
According to the SkyQuest analysis, the LiDAR uses rapid laser pulses to map the surface of the earth. The growing use of LiDAR-based unmanned aerial vehicles (UAVs) opens 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. The airborne segment has the highest share whereas the ground-based segment is growing at a fast pace. North America accounts for the largest share where the Asia-Pacific is growing quickly. One major trend is the advancements in automotive industry like autonomous cars. 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.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.5 Billion |
| Market size value in 2031 | USD 4.83 Billion |
| Growth Rate | 13.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Lidar Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Lidar Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Lidar Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Lidar Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Lidar Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Lidar Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Lidar Market Report Snapshots
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