USD 1.5 billion
Lidar Market Size, Share, Growth Analysis, By Component(Laser Scanners, Navigation & Positioning Systems, and Others), By Installation Type(Aerial, and Terrestrial), By Technology Type(Mechanical Lidar, Solid-State Lidar, Flash Lidar, and Others), By Range(Short (< 200 m), Medium (200-500 m), and Long (> 500 m)), By Application(Search and Rescue, Environmental, Mining and Construction, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45M2006 |
Region:
Global |
Published Date: August, 2024
Pages:
157
|Tables:
121
|Figures:
77
Lidar Market Insights
Global LiDAR Market size was valued at USD 1.3 Billion in 2022 and is poised to grow from USD 1.6 Billion in 2023 to USD 5.6 Billion by 2031, growing at a CAGR of 17.2 % in the forecast period (2024-2031).
In recent times, the demand for LiDAR is increasing because the technological innovations in spatial resolution of LiDAR-driven digital terrain models are offering better precision in applications like change direction on hillsides, water runoff for agriculture or mining sites, and inland waterways. The development is primarily owing to the increase of automation in LiDAR for minimizing human efforts and increasing efficiency. The increasing demand for 3D imagery in application areas like military & defense, topographical surveys, civil engineering, and corridor mapping is boosting the market growth. Textured 3D imagery is also implemented in applications like 3D mapping, city planning, and corridor mapping. The installation of innovative safety features is also rising exponentially. Moreover, in countries like the US, self-driving cars are also approved by the government of the regions, these vehicles are embedded with LiDAR for GPS and navigation applications. LiDAR is also utilized in tracking weather conditions and environmental monitoring. LiDAR stations are vital in monitoring the ash from volcanic eruptions that can interfere with air travel. The technology is also used in mapping the oil sand monitoring system. These applications of LiDAR technology are propelling the growth of the market owing to its improved accuracy.
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
Global LiDAR Market is segmented by Component, Installation Type, Technology Type, Range, Application and region. Based on Component, the market can be segmented into Bioanalytical Testing, Method development and validation, Stability testing, Microbial Testing , Raw Material Testing, Others. Based on Installation Type, the market is segmented into Aerial, and Terrestrial. Based on Technology Type, the market is segmented into Mechanical Lidar, Solid-State Lidar, Flash Lidar, and Others. Based on Range, the market is segmented into Short (< 200 m), Medium (200-500 m), and Long (> 500 m). Based on Application, the market is segmented into Search and Rescue, Environmental, Mining and Construction, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Component
Based on components, the market is divided into laser scanners and navigation & positioning systems. The lasers scanners are dominating the LiDAR market and holding maximum share. Laser scanners are playing a vital role in the LiDAR sector providing accurate measurements by emitting laser beams and capturing their reflections. These scanners find usage in topographic surveys, infrastructure inspection, and environmental monitoring. Their popularity is increasing because they can generate high-resolution 3D point clouds, allowing detailed spatial analysis and mapping. The latest technological innovations in laser scanners focus on extending measurement range, increase accuracy, and increasing the speed of scan. These features help in widening its application in static and dynamic settings. The rising demand for swift and accurate data collection in sectors like construction and autonomous vehicles augments innovation in laser scanner segment.
Navigation and positioning systems is the fastest growing segment in the LiDAR market share. The navigation and positioning systems are playing a vital part in the market by offering significant geospatial data for precise location monitoring and mapping. These systems are embedded with LiDAR sensors for delivering real-time position and orientation information. These solutions are crucial for applications like autonomous vehicles, aerial surveys, and robotics. The integration of innovative GNSS and IMU technologies improves the accuracy and dependability of positioning data. The demand for navigation and positioning systems is increasing due to the high requirement for better accurate navigation solutions. These are used in different sectors like transportation, agriculture, and urban planning. The goal of these innovations is to enhance signal accuracy and system integration for supporting complex geospatial tasks.
Analysis by Type
The mechanical LiDAR segment is dominating the global LiDAR market growth. The automotive LiDAR market is experiencing major technological developments, especially in sensor abilities. The mechanical LiDAR systems are extremely popular for their rotating components. They offer high-resolution 3D mapping, which is important for autonomous vehicle navigation. Furthermore, advancements in laser technology and signal processing are improving the performance of mechanical LiDAR, giving them a competitive edge against the solid-state alternatives. As manufacturers are trying to enhance and increase accuracy and efficiency, mechanical LiDAR is continuously playing a crucial part in the evolution of automotive sensing technologies.
The solid-state LiDAR is the fastest growing segment in the LiDAR market. This is mainly because they are integrated in autonomous and semi-autonomous vehicles, playing a vital part in improving operational safety. The potential of the technology to offer high-resolution, real-time 3D mapping is significant for efficient performance of advanced driver assistance systems. ADAS includes adaptive cruise control and automatic emergency braking. With the progression of the automotive sector the demand for solid-state LiDAR will increase. This trend shows the importance of solid-state technology for meeting the regulatory standards and enhancing the safety and efficiency of modern vehicles.
Global Lidar Market By Installation
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Lidar Market Regional Insights
North America is dominating the global LiDAR market with the maximum number of shares. This is primarily because of its emphasis on autonomous vehicles, geospatial mapping, and infrastructure development. Many companies in the region are investing conducting significant R&D to get better and advanced solutions. However, the string presence of tech firms in the region is also boosting innovations in the LiDAR technology, particularly for advanced vehicle navigation and precise mapping. Furthermore, the region’s infrastructure projects also get benefits from LiDAR’s detailed surveying and tracking abilities. Supportive regulatory structures are also further improving adoption and integration of LiDAR systems. The mix of technological advancement, investment, and favorable regulations strengthens North America's position as a hub for cutting-edge LiDAR applications.
The LiDAR market of Asia Pacific is the fastest growing led by countries like China, Japan, and South Korea. There is high demand for autonomous vehicle technology, especially in China, where government supports, and investment system is also significantly contributing to the market’s growth in this region. There is also an increase in collaboration among automakers and tech companies, increasing innovations in areas like autonomous driving and AI-powered user interfaces. Such diversified market conditions in the regions are also boosting the development of solutions in the region.
Global Lidar Market By Region
- Largest
- Fastest
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Lidar Market Dynamics
Drivers
Rapid Growth in Construction Industry
- The increasing adoption of mid-and high-level precision GPS receivers in large-scale construction projects, such as megaprojects, is a major driver for the growth of the global LiDAR market. For instance, the construction of the Burj Khalifa in Dubai, the world's tallest building, utilized advanced GPS technology and LiDAR scanning to ensure precise measurements and accurate 3D modeling during the planning and execution phases
Rising Demand for Unmanned Aerial Vehicles (UAVs) or Drones
- The rising demand for unmanned aerial vehicles (UAVs) or drones is driven by their diverse applications in sectors such as photography, construction, and threat identification. In construction, drones are used for site inspections, surveying, and monitoring progress, enhancing efficiency and reducing costs. Similarly, in photography, drones equipped with high-resolution cameras capture stunning aerial shots for films, commercials, and real estate marketing.
Restraints
Difficulties in Bad Weather Conditions
- LiDAR's inability to function properly in adverse weather conditions such as heavy rain, snow, and fog hinders its market growth. The technology relies on visible lasers to estimate distance, which are severely impacted by these conditions, making it difficult for LiDAR to accurately detect and measure distances. This limitation significantly affects its performance and reliability in various applications.
Cybersecurity Risks
- Cybersecurity risks are a significant challenge in the LiDAR market forecast, particularly in applications where data security is paramount. This poses a threat to the integrity of LiDAR data, potentially compromising safety and security. As a result, the market growth is hindered by the need for robust cybersecurity measures to protect LiDAR systems from cyber-attacks and data breaches
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Lidar Market Competitive Landscape
Many competitors in the LiDAR market analysis are offering solutions that can assist the consumers to address changing technologies, business practices, and security requirements. Europe has many prominent market players who are constantly offering advanced solutions to meet various applications requirements. The key player also must deal with intense competition to market their presence and dominate the market. Such fierce competition is also leading to strategic initiatives like mergers & acquisitions and the launch of new innovative products. This is also strengthening the product portfolio of the companies and increasing their presence in the market.
Top Player’s Company Profile
- Leica Geosystems AG
- Teledyne Inc
- Velodyne Lidar Inc
- Quanergy Systems, Inc
- Luminar Technologies, Inc
- LeddarTech Inc
- Innoviz Technologies Ltd
- Cepton Technologies, Inc
- AEye, Inc
- RoboSense
- Livox Tech Co. Ltd
- Hexagon AB
- Sick AG
- Topcon Corporation
- ZF Friedrichshafen AG
- Trimble Inc.
- Ouster Inc.
- RIEGL Laser Measurement Systems
- HESAI Technology
- Leishen System
Recent Developments
- In May 2023, Ouster Inc Motibal awarded a production contract to Ouster Inc. With the agreement, Ouster will offet Motional with Alpha Prime VLS-128 sensors through 2026 with serial production.
- Luminar launched Sentinel 1 in July 2024. It is a full-stack line of software developed for advancing automotive safety and autonomy.
- In April 2024, Quanergy Solutions introduced its new 3D LiDAR sensors- Q-Track HD and Q-Track Dome. These solutions expanded their portfolio with innovative tracking and classifications abilities.
Lidar Key Market Trends
Increasing Demand for Solid-State LiDAR
- The latest developments in solid-state LiDAR technology have immensely enhanced the precision, speed, and performance of LiDAR. This is boosting the growth of the LiDAR market. Solid-state LiDAR uses semiconductor chips instead of mechanical parts so that it can provide affordable, dependable, and small size in comparison with conventional LiDAR. These improvements enable an increase in adoption, particularly in the automotive sector where LiDAR is a valuable component for advanced driver assistance.
Increasing Demand for Autonomous Vehicles
- The growing demand for autonomous vehicles and advanced driver assistance systems (ADAS) is increasing the demand for LiDAR systems. Companies like Tesla, Volkswagen, Ford, General Motors, and Waymo are introducing completely autonomous versions of their vehicles. These vehicles massively rely on LiDAR technology for navigation and safety.
Lidar Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global LiDAR market is gaining immense traction owing to its ability to offer immensely accurate mapping and object detection skills for the environment. This has increased its usage in different sectors like autonomous vehicles, construction, mining & quarrying, and entertainment & gaming. The market for LiDAR will continue to grow, boosted by the rising demand for accurate and detailed mapping, object detection, and constant innovations.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.3 Billion |
| Market size value in 2031 | USD 5.6 Billion |
| Growth Rate | 17.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| 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.
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