Light Detection And Ranging Lidar Market
Light Detection and Ranging (LiDAR) Market Forecasts to 2030 - Global Analysis By Type (Solid-State and Mechanical), Component (Navigation and Positioning Systems, Laser Scanners, Digital Cameras, Precision Clocks and Other Components), Range, Installation, Service, Technology, Application and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $2.29 BN |
|
Projected Year Value (2030) |
US $8.73 BN |
|
CAGR (2023 - 2030) |
21% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Light Detection and Ranging (LiDAR) Market is accounted for $2.29 billion in 2023 and is expected to reach $8.73 billion by 2030 growing at a CAGR of 21.0% during the forecast period. Light Detection and Ranging, commonly known as LiDAR, is a remote sensing technology that uses laser light to measure distances and generate precise, three-dimensional information about the shape and characteristics of the Earth's surface. The advantages include high precision, quick data collecting, and versatility.
According to the National Oceanic and Atmospheric Administration, (NOAA), system is used for coastal geospatial service and coastal remote sensing.
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Market Dynamics:
Driver:
Smart cities and infrastructure development
LiDAR technology plays a pivotal role in advancing smart cities and infrastructure development by providing precise 3D mapping and modelling capabilities. In urban planning, LiDAR aids in creating detailed representations of cityscapes, optimizing infrastructure projects, and enhancing disaster management. Moreover, its application ensures accurate data for road design, construction, and maintenance, contributing to efficient transportation systems. LiDAR's role in monitoring and managing urban environments aligns with the goals of smart city initiatives, promoting sustainable practices.
Restraint:
Cost of implementation
Procuring and deploying LiDAR systems involves significant upfront expenditures, encompassing the purchase of sophisticated equipment, installation expenses, and ongoing maintenance costs. This financial burden hampers the adoption of LiDAR technology, particularly for smaller enterprises and projects operating within limited budgets. The high initial investment can impede the widespread integration of LiDAR across various industries and applications, limiting its accessibility and hindering the realisation of its benefits.
Opportunity:
Precision Agriculture
LiDAR's high-resolution 3D mapping capabilities enable precise terrain and crop data collection, offering farmers valuable insights for optimised decision-making. LiDAR aids in assessing crop health, monitoring vegetation density, and creating detailed topographic maps, contributing to efficient resource utilisation and sustainable farming practices. Moreover, the technology facilitates accurate crop monitoring, irrigation planning, and yield prediction, enhancing overall agricultural productivity. As the agriculture industry increasingly adopts digital solutions, LiDAR's role in providing detailed and actionable data positions it as a key tool in advancing precision agriculture.
Threat:
Complexities related to miniaturized LiDAR sensing
While miniaturisation is crucial for integration into various devices and applications, it also introduces challenges such as maintaining high precision and accuracy in a reduced form factor. Miniaturised LiDAR sensors may face limitations in range, resolution, and overall performance, impacting their effectiveness in critical applications like autonomous vehicles and drones. As a result, it acts as a significant barrier to market demand.
Covid-19 Impact
Lockdowns and restrictions slowed down manufacturing and deployment processes, affecting the production and adoption of LiDAR technology. However, the pandemic also accelerated digital transformation trends, increasing the demand for LiDAR in applications like remote sensing and autonomous technologies. The market is expected to rebound as economies recover, driven by the growing importance of spatial intelligence in various sectors, including smart cities, agriculture, and infrastructure development, emphasizing LiDAR's role in shaping post-pandemic technological landscapes.
The navigation and positioning systems segment is expected to be the largest during the forecast period
The navigation and positioning systems segment is estimated to hold the largest share. LiDAR is employed to enhance navigation accuracy and provide precise positioning information for various platforms, including autonomous vehicles, drones, and robotics. By emitting laser beams and measuring their reflections, LiDAR enables real-time mapping of the environment, aiding navigation systems in obstacle detection, localization, and path planning. Furthermore, it is pivotal for sectors that need precise spatial awareness, like industrial automation and driverless cars, where LiDAR's capabilities enhance dependability, efficiency, and safety in challenging conditions.
The 3D LiDAR segment is expected to have the highest CAGR during the forecast period
The 3D LiDAR segment is anticipated to have lucrative growth during the forecast period. By emitting laser beams in multiple directions and measuring their return times, 3D LiDAR generates detailed point clouds, enabling the creation of comprehensive 3D maps. Widely used in applications like autonomous vehicles, urban planning, and environmental monitoring, 3D LiDAR enhances spatial awareness by providing detailed representations of objects and landscapes. Moreover, its ability to perceive depth and geometry makes it instrumental in diverse industries, contributing to advancements in navigation, surveying, and augmented reality applications.
Region with largest share:
Asia Pacific commanded the largest market share during the extrapolated period owing to rapid infrastructure development, smart city initiatives, and a burgeoning interest in precision agriculture. Countries like China, Japan, and India are witnessing increased adoption of LiDAR in applications such as autonomous vehicles, urban planning, and environmental monitoring. Furthermore, as industries across Asia-Pacific recognise the importance of spatial intelligence, the LiDAR market in the region continues to evolve, presenting opportunities for technological advancements and market penetration.
Region with highest CAGR:
North America is expected to witness profitable growth over the projection period. The prevalence of advanced technology industries, smart city initiatives, and robust research and development activities contribute to the region's prominence. LiDAR's role in infrastructure development, precision agriculture, and defence applications further propels its demand. Additionally, with a well-established market ecosystem, a strong investment landscape, and increasing awareness of spatial intelligence, North America continues to be a key driver of innovation and growth in the LiDAR market.
Key players in the market
Some of the key players in the Light Detection and Ranging (LiDAR) Market include Trimble Inc., FARO, Teledyne Optech, Leica Geosystems AG, SICK AG, Velodyne Lidar, Inc., SureStar, GeoKno, YELLOWSCAN, LeddarTech Inc., Phoenix LiDAR Systems, NV5 Global, Inc., Quanergy Systems, Inc., Vaisala, ZX Lidars, Innoviz Technologies Ltd., Waymo LLC, Ouster, Inc., Valeo and Hexagon AB.
Key Developments:
In October 2023, FARO announced the release of the FARO Orbis Mobile Scanner, a groundbreaking advancement to redefine 3D reality capture. Orbis is the first to market a hybrid SLAM scanner that can be used for mobile and stationary data capture in one device. It offers local or cloud-based data processing and collaboration. The product is the latest evolution in FARO’s industry-leading Simultaneous Localization and Mapping (SLAM)-enabled LiDAR technology.
In April 2023, Teledyne Optech introduced the marine lidar sensor, CL-360 for marine applications. This lidar sensor can be seamlessly integrated with high-resolution multibeam systems and the CARIS Ping-To-Chart workflow, allowing full above and below-water image capture with survey-grade accuracy in a single workflow.
Types Covered:
• Solid-State
• Mechanical
Components Covered:
• Navigation and Positioning Systems
• Laser Scanners
• Digital Cameras
• Precision Clocks
• Other Components
Ranges Covered:
• Short (< 200 m)
• Medium (200-500 m)
• Long (> 500 m)
Installations Covered:
• Ground-Based
• Airborne
Services Covered:
• Asset Management
• Aerial Surveying
• Ground-based Surveying
• Geographic Information Systems
• Environmental Consultancy
• Reverse Engineering
• System Integration
• Non-Destructive Testing Services
• Other Services
Technologies Covered:
• 2D LiDAR
• 3D LiDAR
• 3D LiDAR
Applications Covered:
• Corridor Mapping
• Engineering
• ADAS & Driverless Cars
• Urban Planning
• Meteorology
• Cartography
• Exploration
• Environment
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Light Detection and Ranging (LiDAR) Market, By Type
5.1 Introduction
5.2 Solid-State
5.3 Mechanical
6 Global Light Detection and Ranging (LiDAR) Market, By Component
6.1 Introduction
6.2 Navigation and Positioning Systems
6.3 Laser Scanners
6.4 Digital Cameras
6.5 Precision Clocks
6.6 Other Components
7 Global Light Detection and Ranging (LiDAR) Market, By Range
7.1 Introduction
7.2 Short (< 200 m)
7.3 Medium (200-500 m)
7.4 Long (> 500 m)
8 Global Light Detection and Ranging (LiDAR) Market, By Installation
8.1 Introduction
8.2 Ground-Based
8.2.1 Static
8.2.2 Mobile
8.3 Airborne
8.3.1 Bathymetric
8.3.2 Topographic
9 Global Light Detection and Ranging (LiDAR) Market, By Services
9.1 Introduction
9.2 Asset Management
9.3 Aerial Surveying
9.4 Ground-based Surveying
9.5 Geographic Information Systems
9.6 Environmental Consultancy
9.7 Reverse Engineering
9.8 System Integration
9.9 Non-Destructive Testing Services
9.10 Other Services
10 Global Light Detection and Ranging (LiDAR) Market, By Technology
10.1 Introduction
10.2 2D LiDAR
10.3 3D LiDAR
10.4 3D LiDAR
11 Global Light Detection and Ranging (LiDAR) Market, By Application
11.1 Introduction
11.2 Corridor Mapping
11.3 Engineering
11.4 ADAS & Driverless Cars
11.5 Urban Planning
11.6 Meteorology
11.7 Cartography
11.8 Exploration
11.9 Environment
11.10 Other Applications
12 Global Light Detection and Ranging (LiDAR) Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Trimble Inc.
14.2 FARO
14.3 Teledyne Optech
14.4 Leica Geosystems AG
14.5 SICK AG
14.6 Velodyne Lidar, Inc.
14.7 SureStar
14.8 GeoKno
14.9 YELLOWSCAN
14.10 LeddarTech Inc.
14.11 Phoenix LiDAR Systems
14.12 NV5 Global, Inc.
14.13 Quanergy Systems, Inc.
14.14 Vaisala
14.15 ZX Lidars
14.16 Innoviz Technologies Ltd.
14.17 Waymo LLC
14.18 Ouster, Inc.
14.19 Valeo
14.20 Hexagon AB
List of Tables
1 Global Light Detection and Ranging (LiDAR) Market Outlook, By Region (2021-2030) ($MN)
2 Global Light Detection and Ranging (LiDAR) Market Outlook, By Type (2021-2030) ($MN)
3 Global Light Detection and Ranging (LiDAR) Market Outlook, By Solid-State (2021-2030) ($MN)
4 Global Light Detection and Ranging (LiDAR) Market Outlook, By Mechanical (2021-2030) ($MN)
5 Global Light Detection and Ranging (LiDAR) Market Outlook, By Component (2021-2030) ($MN)
6 Global Light Detection and Ranging (LiDAR) Market Outlook, By Navigation and Positioning Systems (2021-2030) ($MN)
7 Global Light Detection and Ranging (LiDAR) Market Outlook, By Laser Scanners (2021-2030) ($MN)
8 Global Light Detection and Ranging (LiDAR) Market Outlook, By Digital Cameras (2021-2030) ($MN)
9 Global Light Detection and Ranging (LiDAR) Market Outlook, By Precision Clocks (2021-2030) ($MN)
10 Global Light Detection and Ranging (LiDAR) Market Outlook, By Other Components (2021-2030) ($MN)
11 Global Light Detection and Ranging (LiDAR) Market Outlook, By Range (2021-2030) ($MN)
12 Global Light Detection and Ranging (LiDAR) Market Outlook, By Short (< 200 m) (2021-2030) ($MN)
13 Global Light Detection and Ranging (LiDAR) Market Outlook, By Medium (200-500 m) (2021-2030) ($MN)
14 Global Light Detection and Ranging (LiDAR) Market Outlook, By Long (> 500 m) (2021-2030) ($MN)
15 Global Light Detection and Ranging (LiDAR) Market Outlook, By Installation (2021-2030) ($MN)
16 Global Light Detection and Ranging (LiDAR) Market Outlook, By Ground-Based (2021-2030) ($MN)
17 Global Light Detection and Ranging (LiDAR) Market Outlook, By Static (2021-2030) ($MN)
18 Global Light Detection and Ranging (LiDAR) Market Outlook, By Mobile (2021-2030) ($MN)
19 Global Light Detection and Ranging (LiDAR) Market Outlook, By Airborne (2021-2030) ($MN)
20 Global Light Detection and Ranging (LiDAR) Market Outlook, By Bathymetric (2021-2030) ($MN)
21 Global Light Detection and Ranging (LiDAR) Market Outlook, By Topographic (2021-2030) ($MN)
22 Global Light Detection and Ranging (LiDAR) Market Outlook, By Services (2021-2030) ($MN)
23 Global Light Detection and Ranging (LiDAR) Market Outlook, By Asset Management (2021-2030) ($MN)
24 Global Light Detection and Ranging (LiDAR) Market Outlook, By Aerial Surveying (2021-2030) ($MN)
25 Global Light Detection and Ranging (LiDAR) Market Outlook, By Ground-based Surveying (2021-2030) ($MN)
26 Global Light Detection and Ranging (LiDAR) Market Outlook, By Geographic Information Systems (2021-2030) ($MN)
27 Global Light Detection and Ranging (LiDAR) Market Outlook, By Environmental Consultancy (2021-2030) ($MN)
28 Global Light Detection and Ranging (LiDAR) Market Outlook, By Reverse Engineering (2021-2030) ($MN)
29 Global Light Detection and Ranging (LiDAR) Market Outlook, By System Integration (2021-2030) ($MN)
30 Global Light Detection and Ranging (LiDAR) Market Outlook, By Non-Destructive Testing Services (2021-2030) ($MN)
31 Global Light Detection and Ranging (LiDAR) Market Outlook, By Other Services (2021-2030) ($MN)
32 Global Light Detection and Ranging (LiDAR) Market Outlook, By Technology (2021-2030) ($MN)
33 Global Light Detection and Ranging (LiDAR) Market Outlook, By 2D LiDAR (2021-2030) ($MN)
34 Global Light Detection and Ranging (LiDAR) Market Outlook, By 3D LiDAR (2021-2030) ($MN)
35 Global Light Detection and Ranging (LiDAR) Market Outlook, By 3D LiDAR (2021-2030) ($MN)
36 Global Light Detection and Ranging (LiDAR) Market Outlook, By Application (2021-2030) ($MN)
37 Global Light Detection and Ranging (LiDAR) Market Outlook, By Corridor Mapping (2021-2030) ($MN)
38 Global Light Detection and Ranging (LiDAR) Market Outlook, By Engineering (2021-2030) ($MN)
39 Global Light Detection and Ranging (LiDAR) Market Outlook, By ADAS & Driverless Cars (2021-2030) ($MN)
40 Global Light Detection and Ranging (LiDAR) Market Outlook, By Urban Planning (2021-2030) ($MN)
41 Global Light Detection and Ranging (LiDAR) Market Outlook, By Meteorology (2021-2030) ($MN)
42 Global Light Detection and Ranging (LiDAR) Market Outlook, By Cartography (2021-2030) ($MN)
43 Global Light Detection and Ranging (LiDAR) Market Outlook, By Exploration (2021-2030) ($MN)
44 Global Light Detection and Ranging (LiDAR) Market Outlook, By Environment (2021-2030) ($MN)
45 Global Light Detection and Ranging (LiDAR) Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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