LiDAR Market:
The GMI Research’s latest analysis reveals that the LiDAR Market is slated to register a significant CAGR over the coming years. This is attributed to the growing usage of unmanned aerial vehicles (UAV), technological development and the outbreak of 4D and 3D LiDAR, and the high-memory cloud-computing environment process large-scale topographic LiDAR data.
LiDAR Market’s leading Manufacturers:
- 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.
LiDAR Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The prominent factors contributing to the growth of the LiDAR market size include the strong demand for 3D imagery in military and defense and civil engineering, and the growth in surveying & excavation activities. According to the LiDAR market research, the increasing adoption of LiDAR systems in applications, such as terrain mapping, engineering and construction, floodplain mapping, landscape ecology, geographical information systems (GIS), urban planning, geomorphology, forest inventory management, survey assessments, and coastal engineering, will further propel the growth of the LiDAR market share in terms revenue. As per the LiDAR market report, the growing usage of unmanned aerial vehicles (UAV), technological development and the outbreak of 4D and 3D LiDAR, usage of the high-memory cloud-computing environment to process large-scale topographic LiDAR data, and installation of solid-state and MEMS sensors in LiDAR systems will further create various new growth opportunities in the market during the forecast period. On the other hand, the limited awareness regarding the benefits of the LiDAR system will hinder the market growth. According to the LiDAR market analysis, the increased cost of the LiDAR system due to the usage of costly components like a navigation system, 3D laser scanner, and high-resolution 3D cameras is projected to hamper the growth of the market in the upcoming years.
Application Segment Drivers
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.
Application Segment Drivers
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 Quanergy Systems, Inc., Teledyne Technologies Inc., Trimble Inc., and Faro Technologies, Inc. in the region. Moreover, the high demand for the LiDAR system in urban planning and in ADAS and driverless cars is further escalating the market growth in North America.
LiDAR Market Segmentation:
Segmentation by Components:
- 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)
About GMI Research
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