Report ID: SQMG45M2001 | Region: Global | Published Date: November, 2022 | Pages: 157
The global LiDAR market size is expected to reach USD 5.2 Billion by 2028, from USD 1.33 Billion in 2021, at a CAGR of 21.50% during the forecast period (2022 - 2028).
Light Detection and Ranging (LiDAR) is a tool that helps to determine, recognize and create virtual images of an object. It is thus the latest remote sensing equipment, which comes in both 2D and 3D formats. The tool is now used in various applications such as GIS mapping, construction, engineering, archaeology, etc. This LiDAR 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 tothe 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 allow for the creation of fully colored 2D or 3D models that can be readily seen and comprehended. In terms of data collecting and processing speed, LiDAR drones outperform photogrammetry technologies. LiDAR drones, on the other hand, 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.
To get more reports on the above market click here to Buy The Report
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.
To get detailed analysis on other segments, Request For Sample Report
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.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
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
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.
|Market size value in 2028||5.2 Billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||Billion|
|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)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 Global 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Lidar Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global 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.
Our industry expert will work with you to provide you with customized data in a short amount of time.SPEAK TO AN ANALYST
Get lifetime access to our reportsBasic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.
Product ID: SQMG45M2001