LiDAR Market Report
LiDAR Market Analysis, Trends, Forecast, Size, Competitive Landscape
It’s time to benefit from 30 years of experience & research.
- LiDAR Market Forecasts & Analysis
- Market Opportunities
- Latest Trends & Dynamics
- Key Industry Analysis
- Competitive Benchmarking
Catch a glimpse of the ever-evolving technology industry from the lens of an electronic manufacturer.
REPORT SUMMARY
| Industry Overview | The global LiDAR market is expected to witness strong growth owing to need of efficient mapping and surveillance technology. It is expected to grow from US$ 1.33 billion in 2019 to US$ 2.91 million in 2025 at a CAGR of 14.1%. |
| Report Coverage | The report provides an in-depth coverage of the market dynamics such as market drivers, challenges, and opportunities. The report provides the value chain analysis for the market. Global and US market forecast have been provided along with the competitive landscape existing in the market. |
| Competitive Landscape | The global LiDAR market is consolidated. The key players utilize innovation, diversification, geographical expansion and product differentiation to capture the market and step up the ladder. The competitive rivalry is not very high as the LiDAR industry is capital intensive and complex in nature. Also, the high requirement of technical expertise acts as a barrier to the entry of new players. The key players in the LiDAR market include Valeo S.A., Innoviz, Waymo, Sick AG, Velodyne LiDAR, Ouster and Quanergy among others. |
TABLE OF CONTENTS
| Market Definition Market Segmentation Research Methodology Market Drivers Market Restraints / Challenges Market Opportunities Global and US LiDAR Market (in US$ Billion, 2016–2025) Value Chain Analysis Competitive Landscape |
RESEARCH METHODOLOGY
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MARKET SEGMENTATION
| LiDAR Market Segmentation by Types Airborne Terrestrial LiDAR Market Segmentation by Component Laser Scanner Navigation & Positioning System Others LiDAR Market Segmentation by End-user Aerospace & Defense Automotive Environment Government Energy & Utilities Manufacturing Agriculture Scientific Research LiDAR Market Segmentation by Region North America Asia Pacific Europe Middle East & Africa South America |
What is LiDAR market?
LiDAR (Light Detection and Ranging) is laser based technology to measure variable distances and generate precise 3D information about the shape of objects. LiDAR technology provides highly accurate data and 3D images in a short time. With LiDAR, detection and mapping of objects has become easier. There is rising demand for 3D imaging technology across various applications areas and growing adoption of aerial LiDAR systems to make surveillance and mapping quick. LiDARs are used in unmanned aerial vehicles (UAVs) to collect data from places that are inaccessible to humans or human-driven vehicles. Drones are used in applications such as forestry, agriculture, archaeology, oil refineries and others. Lack of awareness about the efficiency which can be gained with LiDAR based methods of scanning, surveying and mapping has become a hindrance towards growth of LiDAR market. Moreover, LiDAR technology is costlier when compared to traditional navigation and surveying methods such as cameras. Due to growth in LiDAR ecosystem, its cost will get reduced and will make it more affordable. Another challenge is integrating LiDAR components with core hardware and also with other systems such as radar, GNSS, electrical systems and vehicles and cloud-based software infrastructure is a daunting challenge.
MAJOR APPLICATIONS:
1. Industrial: Industry 4.0 is the industrial revolution which promotes interconnectivity among workplace entitles and automation of business processes in industries such as manufacturing, medical and healthcare, logistics and supply chain, and energy and utilities. Mobile devices and robotics which enables autonomous processes leverages LiDAR capabilities for navigation
2. Military applications: LiDAR are being increasingly adopted in defense systems to enhance efficiency. The military applications of LiDAR systems include using them as range-finders to determine the distance to a target, for missile defense and in aerial vehicles
3. Autonomous vehicles: Self-driving cars equipped with LiDAR automotive sensors offering complete automation. Automotive LiDAR based ADAS systems along with vision and RADAR-based sensors provide complete control over the vehicle, managing the speed and steering control, thereby providing a remarkably safe driving experience
4. Surveillance and mapping: Governments in different countries are using LiDAR technology for topographical surveys, mapping, surveillance, and monitoring. LiDAR is used in various applications such as construction of bridges and tunnels, flood modelling, pollution modelling, urban planning & management, and aircrafts & defense systems
Who are the key players in the LiDAR market?
Global key LiDAR companies are Quanergy, Luminar Technologies, Velodyne LiDAR, Trimble, Cepton Technologies, Sense Photonics, and Ouster.
What is LiDAR market growth?
The global LiDAR market is analyzed to grow a rapid rate from US$ 1.33 Billion in 2019 to $2.91 billion in 2025 at a CAGR of 14.1%. Adoption of LiDAR in mining applications, use of LiDAR in UAVs and higher efficiency of LiDAR based survey and mapping are some of the factors driving growth in the global LiDAR market. North America to have the largest LiDAR technology stock market share of the global LiDAR market owing to significant growth of self-drive and Advanced driver-assistance systems (ADAS) technology. LiDAR analysis based ADAS systems along with vision and RADAR-based sensors provide complete control over the vehicle, managing the speed and steering control, thereby providing a remarkably safe driving experience.
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