Analysis of the LiDAR Market: Assessment of Market Size, Trends, Statistics, and Competitors
Global LiDAR Market by Type (Solid State and Mechanical), by Installation (Mobile & UAV and Airborne), by Component (GPS, Laser, Navigation, Camera, and Others), by Application (ADAS, Surveillance, Exploration/Detection, Mapping & Cartography, Engineering, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Size, Share, COVID-19 Impact, Regional Analysis & Forecast Till 2030
Category - Semiconductor & Electronics
Report Code - OMR-SE-189
Format: PDF, PPT, and Excel
LiDAR Market Overview
Light Detection and Ranging, or Lidar, is a type of remote sensing that measures ranges (varying distances) to Earth using light as a pulsed laser. When paired with additional information captured by the aerial system, these light pulses produce accurate, three-dimensional data about the Earth's structure and surface features. Aircraft and helicopters are the most popular tools when collecting lidar data over large areas. Topographical and marine bathymetric lidar are the two main varieties. LiDAR-based digital terrain models are improving the accuracy of applications, including slope change detection, water runoff for agricultural or mining sites, and inland rivers due to their higher spatial resolution. Over the forecast period, the market is expected to increase due to the increasing need for 3D images in fields including military & defense, topographical surveys, civil engineering, and corridor mapping. The cost of surveying with LiDAR is high compared to more conventional approaches. High-end hardware, sensors, scanners, and other components add up to an approximate cost of USD 75,000. Using laser pulses to measure distances and create 3D pictures of objects and settings, LiDAR is a technology that saw both positive and negative effects from the COVID-19 pandemic. During the pandemic, LiDAR technology was in high demand in the autonomous vehicle market. It helped reduce the number of people exposed to the virus by eliminating the need for human drivers.
LiDAR Market Growth Factors
Rising Emergence of Innovative Solutions such as 3D and 4D Imaging Technology to Increasing Sales of Systems
The increasing need for high-quality 3D photography in various security and surveillance settings is boosting LiDAR's widespread implementation. Aerial LiDAR systems are becoming increasingly popular in the mapping and cartography industries because of the growing need to discover and map previously uncharted areas and uncover previously unknown historical details. Water runoff from agricultural or mining areas, climatic changes on slopes, inland water flow, and other phenomena can be detected with unprecedented precision using LiDAR. Applications for LiDAR range from 3D mapping and city planning to corridor planning and exploration. LiDAR deployments in various contexts are growing at an astounding rate. As a result, the global LiDAR market is predicted to expand at a staggering CAGR over the next several years. Self-driving autonomous vehicles have been legalized in some nations, including the United States, Japan, and others. These self-driving vehicles include cutting-edge LiDAR systems that can detect objects as small as bacteria and reconstruct an accurate 3D model of them. The predicted period will see an increase in the demand for cutting-edge LiDAR as the number of people interested in driverless vehicles grows. Environmental and meteorological monitoring both benefit from the usage of LiDAR. For instance, in Canada, LiDAR technology is used by environmental monitoring stations to track pollution levels in the troposphere. When it comes to keeping an eye on volcanic ash that could ground planes, LiDAR stations are indispensable. The method is also used in oil sand monitoring system mapping. The increased precision of LiDAR technology is finding a wide variety of applications, which is projected to drive market growth throughout the forecast period.
Technological Shifts Leading to Adoption of MEMs, Solid State LidARs, and Other Systems to Help Market Flourish
Although LiDAR traditionally relies on mechanical scanning, numerous solid-state systems have made strides in recent years. Passive optical components like mirrors or MEMS can be used instead of the pricey rotating pieces. The market for MEMS-based LiDAR solutions is predicted to expand rapidly in the next years. Several advances are being made for sources and detectors that could increase the performance and cost of flash LiDAR, particularly in the SWIR region. Demand for cutting-edge LiDAR systems is anticipated to fuel significant market expansion. Unmanned aerial vehicles (UAVs), advanced driver-assistance systems (ADAS), meteorology, and other fields extensively use ground-based LiDARs. Expanding these uses would drive up the demand for LiDAR on the market. LiDAR is widely utilized in the building industry to make accurate 3D models of structures and towns. The leading players in this industry are creating and releasing cutting-edge LiDAR systems for building applications. Engineering and civil building efforts have expanded globally, but mainly in emerging countries, to house a larger population. Technology is increasingly necessary throughout construction, from initial site surveys and mapping to final feasibility assessments. Large areas may be quickly and precisely mapped with LiDAR technology. Engineers are aided in their efforts to produce designs that fit project specifications and conduct accurate feasibility assessments by using global positioning system-assisted laser scanners and incredibly sensitive cameras. As a result, the number of businesses offering LiDAR services has grown significantly. The value of public residential building spending in the United States increased dramatically between 2002 and 2021, as reported by the U.S. Census Bureau. More than $9 billion was allocated by the government in 2021 for housing construction projects. Public residential spending peaked in 2020, when it jumped to USD 9.19 billion, up from USD 6.89 billion the year before. Over the next few years, the cost of building new homes in the United States will rise.
LiDAR Industry Segmentation
Type
• Solid State
• Mechanical
Installation
• Mobile & UAV
• Airborne
• Terrestrial
Component
• GPS
• Laser
• Navigation
• Camera
• Others
Installation
• ADAS
• Surveillance
• Exploration/Detection
• Mapping & Cartography
• Engineering
• Others
LiDAR Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
Type Insights
Mechanical-based LiDAR Systems to Accommodate Larger Sales Revenue Due to Higher Dependability
The global market can be split into solid state and mechanical based on type.
However, it is anticipated that mechanical LiDAR will account for a disproportionate share of the market in 2022. Due to its great dependability and precision, mechanical LiDAR has seen widespread use in autonomous cars.
Due to its commercial viability and adaptability, solid-state LiDAR is projected to see the highest CAGR throughout the forecast period. Operating a solid-state LiDAR built on a silicon chip requires no moving components. Microelectromechanical systems (MEMS), optical phase arrays (OPA), and flash LiDAR are all examples of the many subtypes of LiDAR that can be implemented using solid-state technology. Autonomous vehicles and the defense industry are early adopters of this class of LiDARs.
Installation Insights
Airborne Segment Will Form Maximized Share Owing to Rising Utilization of Aerial Airborne Mapping Solutions
Based on the installation, the global market can be differentiated into mobile & UAV, airborne, and terrestrial.
In terms of revenue, the airborne sector was the most lucrative in 2022. The widespread use of aerial mapping technologies bodes well for the industry's continued expansion over the coming years. The airborne LiDAR system has replaced photogrammetry as the gold standard for making digital elevation models. This system maps expansive regions in far less time than its terrestrial analogs.
The terrestrial market is anticipated to grow at the fastest rate. Only useable on Earth's surface, terrestrial LiDAR can be both portable and permanently installed. When monitoring, traditional topography, forensics, and cultural heritage recording, static terrestrial scanning is often the favored survey method. Both ground-based and airborne, mobile and UAV LiDAR can map the ground below and the sky above.
Application Insights
Mapping and Cartography Applications to Widen its Market Width as Installations for Various End Users Increase
The global market can be fragmented across ADAS, surveillance, exploration/detection, mapping & cartography, engineering, and others based on application.
In 2022, the mapping and cartography subsegment of the worldwide LiDAR market held the largest share. In industries as diverse as oil and gas, utilities, roads, railways, and others, there has been a rise in the need for network and infrastructure management services, which has contributed to the expansion of the mapping and cartography market. It is anticipated that the ADAS market will expand at a faster rate than any other. The increasing use of LiDAR-based sensors in automobile safety and industrial settings is most likely responsible for this expansion. Automakers may add features like lane departure warnings, blind spot monitoring, and even full autonomy by integrating LiDAR-based mapping systems into their vehicles.
The market for ADAS (advanced driver assistance systems) is anticipated to grow at the fastest rate. This market is expanding at a lightning pace because of the widespread adoption of LiDAR-based sensors for use in car safety systems. Vehicles that utilize cameras and LiDAR to detect their surroundings and prevent collisions have become increasingly popular.
Regional Insights
Asia Pacific to be Considered Highly Potent in Terms of Revenue due to the Presence of Major Automobile Manufacturers
North America, Europe, Asia Pacific, Latin America, the Middle East and Africa can be considered regions in terms of geographical consideration.
During the forecast period, the light detection and ranging market is expected to grow faster in North America than in any other region. In 2022, the LiDAR market in North America generated significant income. The proliferation of new businesses, the expanding use of 3D and 4D imagery, and the increasing use of solid-state LiDAR systems are all contributing factors. Companies of note in the region are spending heavily on a range of initiatives that should significantly boost the light detection and ranging industry. One new venture utilizing LiDAR technology is the "Google Car" in the United States. North America's LiDAR market is expected to rise because of the rising use of integrated LiDAR systems for uses like ADAS and surveillance.
During the projected period, the Asia-Pacific region is expected to lead the world in the LiDAR market period in terms of CAGR growth. The manufacturing and information technology, and telecommunications sectors are expanding in this area. Companies with a significant presence in the region are putting a premium on acquisitions and partnerships with smaller rivals to create and market cutting-edge LiDAR technologies. Increases in government spending and investments from abroad should propel markets in nations like India and Korea to rapid expansion over the predicted period. In India, for instance, the National Highways Authority of India (NHAI) has mandated that a LiDAR survey be conducted before and after constructing any roads, tunnels, and buildings. The government of India is boosting its investment in LiDAR to learn more about its potential uses in various surveys.
Increasing growth efforts by big corporations in emerging European countries, such as the United Kingdom, Germany, France, and others, are a crucial factor driving the market trend. Rising demand for mechanical LiDAR from sectors including the automotive, manufacturing, and industrial sectors has contributed to the market expansion in this area. Hexagon AB, Sick AG, Leosphere, and others have played important roles in the region's development.
LiDAR Industry Analysis
Many different-sized companies contribute to the fierce rivalry in the Global LiDAR Market. These businesses compete by releasing new products and technologies, forming strategic alliances, acquiring new businesses, growing existing ones, and working together.
Numerous market players have introduced cutting-edge products and services in response to consumers' evolving technological, operational, and security requirements. Europe is home to several industry heavyweights that provide cutting-edge answers to various complex problems. Intense competition among the market's leading companies has prompted market consolidation via strategic efforts, including mergers and acquisitions. Businesses in this sector have formed strategic partnerships with key suppliers and distributors to expand their product line and market penetration.
LiDAR Market Recent Developments
• In September 2022, for its Digital Twin applications, FARO Technologies, Inc. has acquired GeoSLAM, a leading provider of mobile scanning solutions based in the United Kingdom, known for its high-productivity patented simultaneous localization and mapping (SLAM) software.
• In May 2022, Quanergy Systems, Inc., a provider of LiDAR sensors and smart 3D solutions, has developed optical phased array (OPA) technology that can identify objects from a distance of 250 meters. Incorporating a scalable CMOS silicon manufacturing process designed for low-cost, mass-market production, the company has increased the range of its demonstrated S3 Series LiDAR by a factor of 2.5 compared to its 2021 demonstration.
• In June 2022, the new Leica Chiroptera-5 bathymetric LiDAR sensor allows for more accurate hydrographic maps by increasing point density by 40%, increasing water depth penetration by 20%, and improving topographic sensitivity by 10%. Topographic sensitivity, point density, and depth penetration have all been enhanced with this latest mapping technique. High-resolution LiDAR data is made available by the new technology, which can be used for a wide range of purposes. These include nautical charting, coastal infrastructure design, environmental monitoring, and landslide and erosion risk assessments.
Global LiDAR Market Prominent Players
• Teledyne Optech (Canada)
• Beijing SureStar Technology Co. Ltd. (China)
• Leica Geosystems AG (Sweden)
• Trimble, Inc. (U.S.)
• FARO Technologies, Inc. (U.S.)
• SICK AG (Germany)
• Quantum Spatial (U.S.)
• RIEGL Laser Measurement Systems GmbH (Austria)
• Velodyne Lidar, Inc. (U.S.)
• VALEO (France)
• Hokuyo Automatic USA Corporation (U.S.)
• Mirrorcle Technologies Inc.(U.S.)
Frequently Asked Questions (FAQs)
At what rate will the LiDAR Market Expand?
According to Objective Market Research, the LiDAR market is projected to experience a compound annual growth rate (CAGR) of 20.1% throughout the anticipated period.
What are the factors driving the global LiDAR Market?
The global LiDAR market will be propelled during the forecast period due to increasing validation of 3D and 4D imaging technologies, increasing demand for LiDAR from various end users, and increasing need for safety concerns among automobiles.
Which segment accounted for the largest LiDAR Market share by Installation?
The airborne sector was the most profitable in terms of revenue in 2022. The extensive use of aerial mapping technologies augurs well for the industry's sustained growth in the coming years. As the gold standard for producing digital elevation models, the airborne LiDAR system has supplanted photogrammetry.
What region holds the major share in the global market scape?
North America's LiDAR market generated significant revenue in 2022. Contributing factors include the proliferation of new enterprises, the expanding use of 3D and 4D imagery, and the growing use of solid-state LiDAR systems. Notable regional companies are investing extensively in various light detection and ranging industry-enhancing initiatives.
Which are the dominating players in the market during the forecast period?
Some prominent global LiDAR market leaders are FARO Technologies, Inc. (U.S.), SICK AG (Germany), Quantum Spatial (U.S.), RIEGL Laser Measurement Systems GmbH (Austria), Velodyne Lidar, Inc. (U.S.), VALEO (France), and Hokuyo Automatic USA Corporation (U.S.), among others.
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Table of Content
1. Introduction
1.1 Market Definition
1.2 Objective of the Study
1.3 Market Scope
1.4 Years Considered in the Study
1.4.1 Historic Year: 2019-2021
1.4.2 Base Year: 2022
1.4.3 Forecast Period: 2023-2030
1.5 Currency Used in the Study
1.6 Boundaries for the Study
1.7 Collaborators/Stakeholders/Benefactors
2. Research Methodology
2.1 Research Outline
2.2 Data Collection Methods
2.3 Data Sources
2.3.1 Secondary Sources
2.3.1.1 Paid Sources
2.3.1.2 Unpaid Sources
2.3.2 Primary Sources
2.4 Market Estimation Methodology
2.4.1 Top-Down Approach
2.4.2 Bottom-Up Approach
2.5 Data Triangulation
2.6 Assumptions of the Study
2.7 Limitations of the Study
3. Executive Summary
3.1 Market Outlook
3.2 Analysts Perspective
4. Market Overview
4.1 Market Dynamics
4.1.1 Drivers
4.1.1.1. Rising Integration of Advanced Solutions such as 3D and 4D LiDARs
4.1.1.2. Increasing Installations Within Autonomous Vehicles
4.1.2. Restrain
4.1.2.1. Higher Capital Cost
4.1.3. Opportunities
4.1.3.1. Adoption of MEMs and Solid State LidARs
4.1.4. Impact of Market Dynamics
4.2. Impact of COVID-19 pandemic
4.3. Value Chain Analysis
4.4. Porter’s Five Forces Analysis
4.4.1. Bargaining Power of Buyers
4.4.2. Bargaining Power of Suppliers
4.4.3. Threat of Substitution
4.4.4. Threat of New Entrants
4.4.5. Competitive Rivalry
5. Global LiDAR Market Analysis & Forecast, by Type from 2019-2030 (in USD million)
5.1. Solid State
5.2. Mechanical
6. Global LiDAR Market Analysis & Forecast, by Installation from 2019-2030 (in USD million)
6.1. Mobile & UAV
6.2. Airborne
6.3. Terrestrial
7. Global LiDAR Market Analysis & Forecast, by Component from 2019-2030 (in USD million)
7.1. GPS
7.2. Laser
7.3. Navigation
7.4. Camera
7.5. Others
8. Global LiDAR Market Analysis & Forecast, by Application from 2019-2030 (in USD million)
8.1. ADAS
8.2. Surveillance
8.3. Exploration/Detection
8.4. Mapping & Cartography
8.5. Engineering
8.6. Others
9. Global LiDAR Market Analysis & Forecast, by Region from 2019-2030 (in USD million)
9.1. North America
9.1.1. North America LiDAR Market Analysis & Forecast, By Country
9.1.1.1. U.S.
9.1.1.2. Canada
9.1.1.3. Mexico
9.1.2. North America LiDAR Market Analysis & Forecast, By Type
9.1.3. North America LiDAR Market Analysis & Forecast, By Installation
9.1.4. North America LiDAR Market Analysis & Forecast, By Component
9.1.5. North America LiDAR Market Analysis & Forecast, By Application
9.2. Europe
9.2.1. Europe LiDAR Market Analysis & Forecast, By Country
9.2.1.1. Germany
9.2.1.2. UK
9.2.1.3. France
9.2.1.4. Spain
9.2.1.5. Italy
9.2.1.6. Rest of Europe (RoE)
9.2.2. Europe LiDAR Market Analysis & Forecast, By Type
9.2.3. Europe LiDAR Market Analysis & Forecast, By Installation
9.2.4. Europe LiDAR Market Analysis & Forecast, By Component
9.2.5. Europe LiDAR Market Analysis & Forecast, By Application
9.3. Asia-Pacific (APAC)
9.3.1. Asia-Pacific LiDAR Market Analysis & Forecast, By Country
9.3.1.1. Japan
9.3.1.2. China
9.3.1.3. India
9.3.1.4. South Korea
9.3.1.5. Rest of the APAC
9.3.2. Asia-Pacific LiDAR Market Analysis & Forecast, By Type
9.3.3. Asia-Pacific LiDAR Market Analysis & Forecast, By Installation
9.3.4. Asia-Pacific LiDAR Market Analysis & Forecast, By Component
9.3.5. Asia-Pacific LiDAR Market Analysis & Forecast, By Application
9.4. Latin America
9.4.1. Latin America LiDAR Market Analysis & Forecast, By Country/Region
9.4.1.1. Argentina
9.4.1.2. Brazil
9.4.1.3. Rest of Latin America
9.4.2. Latin America LiDAR Market Analysis & Forecast, By Type
9.4.3. Latin America LiDAR Market Analysis & Forecast, By Installation
9.4.4. Latin America LiDAR Market Analysis & Forecast, By Component
9.4.5. Latin America LiDAR Market Analysis & Forecast, By Application
9.5. Middle East & Africa
9.5.1. Middle East & Africa LiDAR Market Analysis & Forecast, By Country/Region
9.5.1.1. South Africa
9.5.1.2. UAE
9.5.1.3. Saudi Arabia
9.5.1.4. Rest of Middle East & Africa
9.5.2. Middle East & Africa LiDAR Market Analysis & Forecast, By Type
9.5.3. Middle East & Africa LiDAR Market Analysis & Forecast, By Installation
9.5.4. Middle East & Africa LiDAR Market Analysis & Forecast, By Component
9.5.5. Middle East & Africa LiDAR Market Analysis & Forecast, By Application
10. Competitive Landscape
10.1. Market Share Analysis (2022)
10.2. Market Positioning of Top Players (2022)
10.3. Key Developments & Growth Strategies (2020-2022)
10.3.1. Product Launches
10.3.2. Merges, Collaborations & Agreements
10.3.3. Expansion
10.4. SWOT Analysis
11. Company Profiles (Business Overview, Products Offered, Financial Details*, Recent Developments)
11.1. Teledyne Optech (Canada)
11.1.1. Company Snapshot
11.1.2. Business Overview
11.1.3. Financial Data
11.1.4. Key Products Offered
11.1.5. Recent Developments
11.2. Beijing SureStar Technology Co. Ltd. (China)
11.3. Leica Geosystems AG (Sweden)
11.4. Trimble, Inc. (U.S.)
11.5. FARO Technologies, Inc. (U.S.)
11.6. SICK AG (Germany)
11.7. Quantum Spatial (U.S.)
11.8. RIEGL Laser Measurement Systems GmbH (Austria)
11.9. Velodyne Lidar, Inc. (U.S.)
11.10. VALEO (France)
11.11. Hokuyo Automatic USA Corporation (U.S.)
11.12. Mirrorcle Technologies Inc.(U.S.)
11.13. Others
12. Appendix
12.1. Currency Exchange Rate to USD
12.2. Abbreviations
* Financial details captured might be subjected to information available and not be given for privately-held companies or for companies that do not report it in the public domain