Global LiDAR Market by Product Type (Airborne, Terrestrial, Mobile & UAV), By Component (GPS, Navigation (IMU), Laser Scanners), By Application (Corridor Mapping, Engineering, Environment, Exploration and Detection, Advanced Driver Assistance Systems (ADAS), Other Applications), By End-User (Automotive, Aerospace & Defense, Healthcare, IT & Telecom, Oil & Gas, Other End-users), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Jan. 2024
- Report ID: 50873
- Number of Pages: 379
- Format:
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Report Overview
The global LiDAR Market size is expected to be worth around USD 11.6 Billion by 2032, from USD 2.0 Billion in 2023, growing at a CAGR of 22.5% during the forecast period from 2023 to 2032.
LiDAR, which stands for Light Detection and Ranging, is a remote sensing technology that uses laser light to measure distances and create highly accurate 3D representations of the target area. It works on the principle of emitting laser beams and measuring the time it takes for the light to bounce back after hitting an object. By analyzing the time-of-flight data, LiDAR systems can generate detailed point clouds or 3D maps of the environment.
it has experienced significant growth in recent years and is expected to continue expanding. The increasing adoption of autonomous vehicles, ongoing infrastructure development projects, and the demand for precise geospatial data are driving the market growth. The automotive industry, in particular, has been a major driver for LiDAR technology due to its integration into autonomous driving systems.
Additionally, advancements in LiDAR technology, such as the development of solid-state LiDAR, smaller form factors, and reduced costs, have made it more accessible to various industries and applications. These factors have contributed to the market expansion and attracted investments from both established companies and startups.
Analyst Viewpoint
The surge in the development of autonomous vehicles is a primary driver for the LiDAR market. LiDAR sensors play a crucial role in the navigation and obstacle detection capabilities of these vehicles, enhancing safety and efficiency. There’s an increasing demand for accurate geospatial information across various sectors, including urban planning, forestry, and environmental monitoring. LiDAR’s ability to provide detailed topographical data supports these requirements effectively.
Innovations in LiDAR technology, such as solid-state LiDAR, have resulted in more compact, affordable, and reliable sensors. This accessibility is expanding LiDAR’s application scope across new industries. Government projects involving infrastructure development, coastal zone mapping, and flood risk management often utilize LiDAR technology, fueling its market growth.
Key Takeaway
- Market Statistics: The LiDAR market is expected to grow from USD 2.0 billion in 2023 to USD 11.6 billion by 2032 at a compound annual growth rate of 22.5% over 2022-2033.
- By Product Type Analysis: Airborne LiDAR has seen the greatest rate of growth.
- By Component Analysis: Laser scanners have seen unprecedented demand.
- By Application Analysis: Corridor Mapping applications are projected to experience the greatest growth.
- Drivers: Rising demand for autonomous vehicles and robots; growing investments in infrastructure development.
- Restraint: LiDAR sensor costs are too expensive, while there is no standardization in LiDAR technology.
- Opportunities: LiDAR technology innovations that reduce costs will create opportunities, as will its adoption into new applications.
- Challenges: Technical difficulties associated with developing and deploying LiDAR systems as well as regulatory obstacles associated with their deployment in certain regions present considerable obstacles for LiDAR deployment.
- Regional Analysis: North America is expected to account for 40% of the market during its projected lifespan.
- Key Players: Leica Geosystems Holdings AG, Faro Technologies Inc., Beijing SureStar Technology Co. Ltd, Velodyne LiDAR, Inc., Trimble Navigation Limited, Sick AG, GeoDigital, RIEGL USA Inc., Quanergy Systems Inc., Topcon Corp and Other Key Players
By Product Type Analysis
In 2023, the airborne segment held a dominant market position, capturing a significant share of the LiDAR market. This segment’s dominance can be attributed to several factors. Firstly, airborne LiDAR systems offer wide-area coverage and high-resolution data acquisition capabilities, making them ideal for large-scale mapping and surveying applications. These systems are typically mounted on aircraft or drones, enabling them to capture data from a bird’s-eye view, covering extensive areas efficiently.
The airborne LiDAR segment has witnessed substantial growth due to its widespread adoption in applications such as topographic mapping, urban planning, and forestry management. The ability to acquire highly accurate and detailed 3D data from an aerial perspective provides valuable insights for infrastructure development, environmental monitoring, and disaster management. Additionally, advancements in sensor technology and data processing techniques have improved the efficiency and affordability of airborne LiDAR systems.
By Component Analysis
In 2023, the laser scanners segment held a dominant market position, capturing a significant share of the LiDAR market. This segment’s dominance can be attributed to several factors. Laser scanners are one of the key components of LiDAR systems and play a crucial role in capturing and measuring the distance between the sensor and objects in the environment. These scanners emit laser pulses and measure the time taken for the pulses to reflect back, enabling the generation of highly accurate 3D point cloud data.
The dominance of the laser scanners segment is driven by the increasing adoption of LiDAR technology in various industries such as automotive, aerospace, and geospatial mapping. Laser scanners are vital for applications that require precise and detailed measurements, such as autonomous driving, robotics, and infrastructure development. The automotive industry, in particular, has witnessed significant growth in the adoption of LiDAR technology for advanced driver-assistance systems (ADAS) and autonomous vehicles. Laser scanners provide the necessary depth perception and object detection capabilities required for these applications.
Furthermore, advancements in laser scanning technology have contributed to the dominance of this segment. Manufacturers are focusing on developing more compact, lightweight, and cost-effective laser scanners without compromising on performance. This has made LiDAR systems more accessible to a wider range of industries and applications, driving market growth.
By Application Analysis
In 2023, the corridor mapping segment held a dominant market position, capturing a significant share of the LiDAR market. This segment’s dominance can be attributed to several factors. Corridor mapping refers to the use of LiDAR technology for mapping linear features such as roads, railways, pipelines, and power transmission lines. It plays a crucial role in infrastructure development, maintenance, and management.
The dominance of the corridor mapping segment is driven by the increasing demand for accurate and detailed geospatial data in transportation and utility sectors. LiDAR enables efficient and precise mapping of corridors, providing valuable information on terrain, elevation, and vegetation along linear infrastructure. This data is essential for activities such as route planning, design, construction, and asset management. Governments and organizations invest significantly in corridor mapping projects, contributing to the growth of this segment.
Moreover, the adoption of LiDAR technology in engineering applications is also significant. Engineering encompasses various industries such as construction, civil engineering, and architecture. LiDAR plays a vital role in these sectors by providing highly accurate and detailed 3D data for site surveys, building information modeling (BIM), and construction monitoring. The ability of LiDAR to capture complex geometries, detect changes over time, and facilitate clash detection makes it an indispensable tool in engineering projects.
By End-user Analysis
In 2023, the automotive segment held a dominant market position, capturing a significant share of the LiDAR market. This segment’s dominance can be attributed to several factors. The automotive industry has been a key driver of LiDAR technology adoption, particularly in the context of advanced driver assistance systems (ADAS) and autonomous vehicles.
The dominance of the automotive segment is fueled by the growing demand for safety and autonomous driving functionalities in vehicles. LiDAR technology plays a critical role in enabling autonomous vehicles to perceive their surroundings accurately and make informed decisions in real-time. LiDAR sensors provide precise and detailed 3D mapping of the vehicle’s environment, facilitating object detection, distance estimation, and path planning. This enhances the safety and reliability of autonomous vehicles, making LiDAR an essential component in the automotive industry’s pursuit of self-driving technology.
Furthermore, advancements in LiDAR technology have made it more accessible and cost-effective for automotive applications. Manufacturers are developing compact, solid-state LiDAR sensors that can be integrated into vehicles seamlessly. These sensors offer improved performance, reliability, and affordability, driving their adoption in the automotive sector.
Key Market Segments
By Product Type
- Airborne
- Terrestrial
- Mobile & UAV
By Component
- GPS
- Navigation (IMU)
- Laser Scanners
- Other Components
By Application
- Corridor Mapping
- Engineering
- Environment
- Exploration and Detection
- Advanced Driver Assistance Systems (ADAS)
- Other Applications
By End-user
- Automotive
- Aerospace & Defense
- Healthcare
- IT & Telecom
- Oil & Gas
- Other End-users
Drivers
Increasing number of smart cities and infrastructure development projects
One major driver is the increasing number of smart cities and infrastructure development projects worldwide. As urban areas strive to become more efficient, sustainable, and interconnected, the demand for LiDAR technology rises. LiDAR enables precise mapping, monitoring, and planning, assisting in the creation of intelligent infrastructure systems. It plays a vital role in areas like urban planning, transportation management, and environmental monitoring.
In January 2022, During CES 2022 in Las Vegas, Quanergy Systems, Inc., a leading provider of OPA-based solid-state LiDAR sensors and smart 3D solutions for automotive and IoT, presented its advanced 3D IoT LiDAR solutions. The highlighted solutions featured applications in smart mobility, retail flow management analytics, building occupancy management, and perimeter intrusion detection.
Restraint
High testing, engineering, and calibration costs
However, the LiDAR market does face certain restraints. One such restraint is the high testing, engineering, and calibration costs associated with LiDAR systems. Developing and fine-tuning LiDAR technology requires extensive testing and calibration to ensure accurate and reliable performance. These processes can be time-consuming and expensive, posing a challenge for companies and organizations looking to adopt LiDAR solutions.
Opportunity
Mounting development of advanced geospatial solutions
Nevertheless, the LiDAR market presents compelling opportunities, particularly in the mounting development of advanced geospatial solutions. LiDAR technology, with its ability to capture highly detailed and accurate 3D data, is instrumental in the creation of advanced geospatial solutions. These solutions find applications in sectors such as agriculture, forestry, archaeology, and disaster management. The demand for precise geospatial data and the increasing integration of LiDAR with other technologies like artificial intelligence and machine learning offer significant growth opportunities in the market.
Challenge
Complexities related to miniaturized LiDAR sensing
However, one of the challenges faced by the LiDAR market is the complexities related to miniaturized LiDAR sensing. While there is a growing demand for smaller and more compact LiDAR sensors, developing miniaturized versions with comparable performance can be challenging. Achieving high levels of accuracy and resolution in a smaller form factor, while maintaining cost-effectiveness, remains a challenge for manufacturers and developers in the LiDAR industry.
Regional Analysis
The North America region is expected to hold the highest share of the market, 40%, during the forecast period. Increased acceptance of administrative requirements requiring the installation of specific automobile safety technology in both lightweight and heavyweight cars in the region is a major driver stimulating market expansion in North America. Due to the growing use of technology like ADAS and AEB, the region is experiencing development potential in the automotive industry.
The Asia Pacific market is projected to grow rapidly over the forecast period. The region’s high focus on LiDAR modernization programs is linked to its strong growth. The United States and other developed nations progressively outsource their LiDAR mapping and surveying services to developing nations like India, China, and Japan. It is anticipated to contribute towards the high growth of the market.
According to the Food and Agriculture Organization (FAO) of the United Nations, nearly half (49%) of Latin America and the Caribbean is enveloped by forests, totaling 891 million hectares. This substantial coverage represents approximately 22% of the world’s entire forested area. The region’s significance is underscored by its hosting of 57% of the world’s primary forests, emphasizing its critical role in biodiversity and conservation initiatives.
Key Regions and Countries
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Spain
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- MEA
- GCC
- South Africa
- Israel
- Rest of MEA
The global LiDAR market can be considered highly competitive. The top companies confront fierce competition to dominate the market, allowing market consolidation through strategic initiatives such as mergers and acquisitions. Industry participants have formed strategic alliances with suppliers and distributors to expand their product line and geographical footprint.
Top Key Players in the Market
- Leica Geosystems Holdings AG
- Faro Technologies Inc.
- Beijing SureStar Technology Co. Ltd
- Velodyne LiDAR, Inc.
- Trimble Navigation Limited
- Sick AG
- GeoDigital
- RIEGL USA Inc.
- Quanergy Systems Inc.
- Topcon Corp
- Other Key Players
Recent Developments
- In October 2023, SILC introduced four LiDAR sensors in Germany, utilizing Frequency Modulated Continuous Wave (FMCW) technology, capable of covering short distances to over 1,250 meters.
- In April 2023, Teledyne Optech introduced the CL-360 marine lidar sensor tailored for marine applications. This advanced sensor smoothly integrates with high-resolution multibeam systems and the CARIS Ping-To-Chart workflow, facilitating precise above and below-water image capture with survey-grade accuracy within a single workflow.
- Balko introduced its premier modular drone Lidar, Connectiv, alongside the e-Connect application in September 2023. This groundbreaking technology facilitates the swapping of sensors, inertial platforms, and cameras, adapting to the specific needs of various projects.
Report Scope
Report Features Description Market Value (2023) USD 2.0 Bn Forecast Revenue (2032) USD 11.6 Bn CAGR (2023-2032) 22.5% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Product Type- Airborne, Terrestrial, Mobile & UAV, By Component- GPS, Navigation (IMU), Laser Scanners, and Other Components, By Application – Corridor Mapping, Engineering, Environment, Exploration and Detection, Advanced Driver Assistance Systems (ADAS), and Other Applications, and by End-user- Automotive, Aerospace & Defense, Healthcare, IT & Telecom, Oil & Gas, and Other End-users Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape Leica Geosystems Holdings AG, Faro Technologies Inc., Beijing SureStar Technology Co. Ltd, Velodyne LiDAR, Inc., Trimble Navigation Limited, Sick AG, GeoDigital, RIEGL USA Inc., Quanergy Systems Inc., Topcon Corp, and Other Key Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the value of the global LiDAR market ?The global LiDAR market was valued at US$ 1.6 billion in 2022 and is expected to reach US$ 11.6 billion by 2032.
What factors contribute to the growth of the LiDAR market?Factors such as the increasing use of LiDAR in geographical information systems (GIS), the rising utilization of LiDAR in the construction and engineering sector, and the emergence of 4D LiDAR are driving the market's growth.
What are the driving factors for the LiDAR market?The emergence of 4D LiDAR technology and the use of LiDAR in robotic vehicles are key driving factors for the LiDAR market.
What is the largest end-user segment in the LiDAR market?The automotive segment holds the largest market share in the LiDAR market, driven by the use of LiDAR in advanced driver assistance systems (ADAS) and collaborations between automakers and LiDAR sensor manufacturers.
What are the trends in the LiDAR market?The market is witnessing new product launches and a focus on technological development. LiDAR is also being increasingly used in environmental monitoring and meteorological applications.
What are some of the key players in the LiDAR market?Some of the key players in the LiDAR market include Leica Geosystems Holdings AG, Faro Technologies Inc., Beijing SureStar Technology Co. Ltd, Velodyne LiDAR, Inc., Trimble Navigation Limited, Sick AG, GeoDigital, RIEGL USA Inc., Quanergy Systems Inc., and Topcon Corp.
What are the key applications of LiDAR technology?The key applications of LiDAR technology include corridor mapping, engineering, environment, exploration and detection, and advanced driver assistance systems (ADAS).
What are the components involved in LiDAR technology?The components in LiDAR technology include GPS, navigation (IMU), and laser scanners.
- Leica Geosystems Holdings AG
- Faro Technologies Inc.
- Beijing SureStar Technology Co. Ltd
- Velodyne LiDAR, Inc.
- Trimble Navigation Limited
- Sick AG
- GeoDigital
- RIEGL USA Inc.
- Quanergy Systems Inc.
- Topcon Corp
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