LiDAR Market:
Growth opportunities in the LiDAR Market look promising over the next six years. This is mainly due to the rise in surveying & excavation activities, continuous technological developments, and expanding acceptance of these systems in the administration of forest inventory and urban planning.
LiDAR Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The augmentation in scrutinizing & digging activities, along with the accelerating demand for 3D imaging in military & defense, and civil engineering industries, is forecasted to increase the growth of the LiDAR market. Also, the increasing acquisition of these systems in applications such as survey assessments, engineering and construction, forest inventory management, geographical information systems (GIS), urban planning, landscape ecology, floodplain mapping, coastal engineering, geomorphology, and mapping has strengthened the LiDAR market size. In addition, technological advancements with the advent of 3D and 4D LiDAR, rising implementation of uncrewed aerial vehicles (UAV), usage of the high-memory cloud-computing environment to operate large-scale topographic LiDAR data, and installation of solid-state and MEMS sensors in LiDAR systems will bring enormous growth opportunities for the market.
However, the insufficient consciousness associated with the features of these systems is hindering market growth. Also, their high price, led by the employment of costly components such as 3D laser scanners, navigation systems, and high-resolution 3D cameras, will further curb the LiDAR market share.
Product Type Segment Drivers
Based on product type, terrestrial LiDAR is projected to dominate the market over the forecast period. This is primarily their use in the high-resolution charting of terrain, vegetation, and other landscapes. Additionally, the growing application of 3D laser scanners in these systems for 3D surveys of buildings, objects, and complicated scenes, 3D modeling of tunnels, structures, viaducts, bridges, site conservation, and management is driving the growth of LiDAR industry.
Regional Drivers
Based on regional coverage, North America is expected to expand at a faster CAGR in the market over the forecast period. This is mainly owing to the prevalence of enormous market leaders, including Trimble Inc., Quanergy Systems, Inc., Teledyne Technologies Inc., and Faro Technologies, Inc. in the region. Moreover, immense demand for these systems in urban planning and in ADAS and driverless cars further propels the market share.
LiDAR Market’s leading Manufacturers:
- Quantum Spatial, Inc.
- Yellowscan
- Trimble Inc.
- Riegl Laser Measurement Systems GmbH
- Leica Geosystems AG
- Velodyne Lidar, Inc.
- Faro Technologies, Inc.
- Sick AG
- Teledyne Technologies Inc.
- Quanergy Systems, Inc.
LiDAR Market Segmentation:
Segmentation by Component
- Laser Scanners
- Navigation Systems
- Positioning Systems
- Others
Segmentation by Product Type
- Airborne LiDAR
- Terrestrial LiDAR
Segmentation by Service
- Aerial Surveying
- Asset Management
- GIS Service
- Ground-based Surveying
- Mapping and Modelling
- Others
Segmentation by Industry Vertical
- Geospatial
- Natural Resources
- Infrastructure and Utilities
- Transportation
- Automotive
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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