LiDAR Market

GMI Research analysis indicates that the Lidar Market estimated at USD 2.2 billion in 2022 and is slated to register a double digit CAGR of 20.1% over the period, 2023-2030 and is projected to reach USD 9.4 billion in 2030.

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Market Dynamic

Key Drivers and Emerging Trends

The rise in surveying & excavation activities and the increasing demand for 3D imagery in military and defense, and civil engineering is expected to stimulate the growth of the LiDAR market size over the forecast period. In addition, rising adoption of LiDAR systems in applications including engineering and construction, geographical information systems (GIS), terrain mapping, forest inventory management, floodplain mapping, geomorphology, urban planning, landscape ecology, coastal engineering, and survey assessments, is further contributing to the growth of the LiDAR market value. Moreover, technological development and the emergence of 3D and 4D LiDAR, increasing use of unmanned aerial vehicles (UAV), use of high-memory cloud-computing environment to process large-scale topographic LiDAR data, and installation of solid-state and MEMS sensors in LiDAR systems is expected to provide growth opportunities to the growth of the LiDAR market share in the coming years.

Restraint in the LiDAR Market

However, lack of awareness pertaining the benefits of LiDAR systems may hamper the LiDAR industry growth. In addition, high cost of LiDAR system owing to the use of costly components including 3D laser scanner, navigation system, and high-resolution 3D cameras is projected to restraint the growth of the global LiDAR market during the forecast period.

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Component – Segment Analysis

Based on component, the positioning system segment is expected to grow at a significant CAGR owing to the rising application of GPS in improving the accuracy of the LiDAR systems to obtain geographical information. According to the GPS, the United States is committed to maintain the availability of at least 24 operational GPS satellites, 95% of the time. This further contributes to the market growth.

Product Type – Segment Analysis

Based on product type, the terrestrial LiDAR segment is anticipated to hold a prominent share in the market. This is primarily due to its increasing use in high-resolution mapping of terrain, vegetation, and other landscapes. Additionally, growing use of 3D laser scanner in terrestrial LiDAR systems for 3D surveys of buildings, structures, objects and complex scenes, 3D modelling of tunnels, viaducts, bridges, site conservation and management is further stimulating the market growth.

Service – Segment Analysis

Based on the service, the aerial surveying segment is anticipated to witness high growth over the forecast period owing to the increasing use of high resolution digital aerial cameras coupled to airborne LiDAR systems and rising use of drones for aerial surveying. Various applications of aerial surveying that include managing environmental change and improving town planning by the government; quantifying and managing disturbance and rehabilitation in mining sector; and real-time production of drawings and georeferenced 3D models in defense sector is expected to contribute to the market growth.

Industry Verticals – Segment Analysis

Based on the industry verticals, the automotive segment is projected to witness a prominent growth rate over the forecast period. This can be attributed to the increasing use of LiDAR sensors in Advanced Driver Assistance Systems (ADAS) and autonomous electric cars for high accuracy, precision in object detection and recognition to allow safe driving. According to the International Energy Agency (IEA), in 2019, electric cars registered 2.1 million sales globally with a 40% year-on-year increase and accounted for 2.6% of the global car sales. This is expected to drive the growth of the electric vehicle industry, thereby contributing to the growth of the automotive LiDAR market.

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Regional – Segment Analysis:

Based on region, North America is expected to account for a notable share in the LiDAR market share owing to the presence of various LiDAR market leaders including Quinary Systems, Inc., Teledyne Technologies Inc., Trimble Inc., and Faro Technologies, Inc. in the region. Moreover, high demand of LiDAR system in urban planning, and in ADAS and driverless cars is further escalating the market growth in North America.

Top Market Players

Several Leading players operating in the market, include, Leica Geosystems AG, Quanergy Systems, Inc., Riegl Laser Measurement Systems GmbH, Teledyne Technologies Inc., Trimble Inc., Sick AG, Yellowscan, Faro Technologies, Inc., Quantum Spatial, Inc., and Velodyne Lidar, Inc. among others. 

Key Developments:

• • In 2020, Velodyne LiDAR, Inc. came into an agreement with EasyMile, one of the leading companies offering driverless technology and smart vehicle solutions. With this agreement, EasyMile will use Velodyne LiDAR sensors in production of its EZ10 autonomous passenger shuttles that are deployed on public and private roads in more than 30 countries around the world.
  • Quantum Spatial, Inc., launched a new sensor platform, The The Comprehensive Low-Altitude Sensor Solution (CLASS) platform that can be used in applications including rail and roadway transportation corridors; electric transmission and distribution; inspection of infrastructure, including bridges, buildings and dams; airports and pipelines. The CLASS combines dual-look LiDAR, RGB and NIR nadir imagery and forward-looking oblique imagery into one platform for improved collection of data.

Segments Covered in the Report:

The global LiDAR Market has been segmented on the basis of component, product type, service, industry vertical, and key regions. Based on components, the market is segmented into laser scanners, navigation systems, positioning systems, and others. Based on the product type, the market is segmented into airborne LiDAR and terrestrial LiDAR. Based on service, the market is segmented into aerial surveying, asset management, GIS service, ground-based surveying, mapping and modelling, and others. Based on industry vertical, the market is segmented into geospatial, natural resources, infrastructure and utilities, transportation, automotive, and others. 

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Key questions answered in this research report:

• • At what pace is global LiDAR Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in LiDAR Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global LiDAR Market?
  • Which component generated maximum revenues in 2021 and identify the most promising component during the forecast period?
  • What are the various product types of global LiDAR Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2022)	USD 2.2 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By component, By Product Type, by Service, By Industry Vertical, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Leica Geosystems AG, Quanergy Systems, Inc., Riegl Laser Measurement Systems GmbH, Teledyne Technologies Inc., Trimble Inc., Sick AG, Yellowscan, Faro Technologies, Inc., Quantum Spatial, Inc., and Velodyne Lidar, Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global LiDAR Market by Component

• • Laser Scanners
  • Navigation Systems
  • Positioning Systems
  • Others

Global LiDAR Market by Product Type

• • Airborne LiDAR
  • Terrestrial LiDAR

Global LiDAR Market by Service

• • Aerial Surveying
  • Asset Management
  • GIS Service
  • Ground-based Surveying
  • Mapping and Modelling
  • Others

Global LiDAR Market by Industry Vertical

• • Geospatial
  • Natural Resources
  • Infrastructure and Utilities
  • Transportation
  • Automotive
  • Others

Global LiDAR Market by Region

• • North America LiDAR Market (Option 1: As a part of the free 25% customization)

    • By Component
    • By Product Type
    • By Service
    • By Industry Vertical
    • US All-Up
    • Canada All-Up

  • Europe LiDAR Market (Option 2: As a part of the free 25% customization)

    • By Component
    • By Product Type
    • By Service
    • By Industry Vertical
    • UK All-Up
    • Germany All-Up
    • France All-Up
    • Spain All-Up
    • Rest of Europe All-Up

  • Asia-Pacific LiDAR Market (Option 3: As a part of the free 25% customization)

    • By Component
    • By Product Type
    • By Service
    • By Industry Vertical
    • China All-Up
    • India All-Up
    • Japan All-Up
    • Rest of APAC All-Up

  • RoW LiDAR Market (Option 4: As a part of the free 25% customization)

    • By Component
    • By Product Type
    • By Service
    • By Industry Vertical
    • Brazil All-Up
    • South Africa All-Up
    • Saudi Arabia All-Up
    • UAE All-Up
    • Rest of world (remaining countries of the LAMEA region) All-Up

Major Players Operating in the LiDAR Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Leica Geosystems AG
  • Quanergy Systems, Inc.
  • Riegl Laser Measurement Systems GmbH
  • Teledyne Technologies Inc.
  • Trimble Inc. 
  • Sick AG
  • Yellowscan
  • Faro Technologies, Inc.
  • Quantum Spatial, Inc.
  • Velodyne Lidar, Inc.