LiDAR Global Market Report 2024

LiDAR serves as a tool for scrutinizing the Earth's surface. It operates on the principle of laser imaging detection and ranging, employing laser, a type of light, to gauge distances from the Earth. This technology is widely acclaimed for efficiently measuring extensive areas in a short time span, surpassing manual labor in accuracy. Its primary function is to generate three-dimensional images.

The chief categories of LiDAR encompass terrestrial, aerial, and mobile. Terrestrial LiDAR, also known as Terrestrial Laser Scanning (TLS) or topographic LiDAR, is further classified based on the distances it covers - short-range, medium-range, and long-range scanners. Components integral to LiDAR systems include laser scanners, navigation and positioning systems, among others. The technological dimensions of LiDAR span 2D, 3D, and 4D. Its applications encompass mapping and cartography, Advanced Driver-Assistance Systems (ADAS), environmental studies, exploration and detection, and more. End-users of LiDAR hail from diverse sectors such as defense and aerospace, civil engineering, archaeology, forestry and agriculture, mining, and transportation.

The LiDAR market research report is one of a series of new reports that provides LiDAR market statistics, including LiDAR industry global market size, regional shares, competitors with a LiDAR market share, detailed LiDAR market segments, market trends and opportunities, and any further data you may need to thrive in the LiDAR industry. This LiDAR market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The lidar market size has grown rapidly in recent years. It will grow from $2.15 billion in 2023 to $2.58 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The upswing in the historical period can be ascribed to automotive safety regulations, a rising demand for LiDAR in applications like topographic mapping, agriculture and forestry, the expansion of military and defense applications, and the development of smart cities and infrastructure.

The lidar market size is expected to see rapid growth in the next few years. It will grow to $5.23 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%. The anticipated expansion in the forecast period can be attributed to the ongoing progress and commercialization of autonomous vehicles, a growing interest in LiDAR for environmental monitoring, the increased integration of LiDAR in robotics and automation, the emergence of new and innovative LiDAR applications, and the rising utilization of LiDAR for 3D scanning and modeling. Prominent trends in this period encompass solid-state LiDAR, multi-sensor integration, geospatial and mapping applications, environmental LiDAR, and the synergy of artificial intelligence (AI) with LiDAR technology.

The LiDAR market is anticipated to experience significant growth driven by the increasing demand for 3D imaging. 3D imaging involves transforming 2D data into a three-dimensional format, creating a sense of depth in images. In April 2021, the US government initiated the 3D Elevation Program (3DEP) with a goal to complete it by 2023. The program aims to establish a national baseline of high-resolution three-dimensional data, including bare earth elevations and point clouds, through nationwide LiDAR acquisition within a decade. This surge in demand for 3D imaging is a key factor propelling the growth of the LiDAR market.

The growth of the LiDAR market is further fueled by the increasing demand for autonomous vehicles. LiDAR technology plays a crucial role in enhancing the capabilities of autonomous vehicles by providing precise real-time 3D mapping and object detection. This, in turn, improves safety and supports advanced driver assistance systems, contributing to the transition to autonomous driving. According to a report by the Insurance Institute for Highway Safety in August 2022, there is a projected increase in the number of self-driving automobiles on American highways, reaching 3.5 million by 2025 and 4.5 million by 2030. This rising demand for autonomous vehicles is a driving force behind the growth of the LiDAR market.

A prominent trend in the LiDAR market is the increasing investments made by automotive giants in LiDAR startups. LiDAR is essential for robust radar systems in certain vehicle operations, and its cost-effectiveness compared to other sensors attracts automakers. The implementation of LiDAR in vehicles, particularly autonomous ones, has led to significant investments in LiDAR startups. In May 2021, Pony.ai, a self-driving car company backed by Toyota, collaborated with Luminar Corporation, with Pony.ai using Luminar's LiDAR in its robo taxi production. The versatile use of LiDAR in next-gen vehicles, especially autonomous ones, is prompting automakers to invest in LiDAR startups.

Major companies in the LiDAR market are adopting a strategic partnership approach for the deployment of LiDAR. Strategic partnerships involve leveraging mutual strengths and resources for shared benefits. In June 2023, a technology company partnered with LOXO, a Switzerland-based automotive company, to deploy autonomous, zero-emission delivery vehicles using InnovizOne LiDAR technology. This collaboration aims to optimize the logistics experience and meet the growing demand for autonomous last-mile delivery by integrating InnovizOne LiDAR technology into LOXO's zero-emission delivery vehicles.

In February 2021, Aurora Innovation, an American self-driving technology business, acquired OURS (Optical Universal RISC Systems) technology, an American LiDAR startup, for an undisclosed amount. This acquisition is intended to reduce sensor costs and enhance the accuracy of autonomous driving and robotics applications. OURS's expertise in developing LiDAR chips complements Aurora Innovation's existing capabilities, accelerating their work in the field.

Major companies operating in the lidar market include Velodyne GmbH, Leica Geosystems AG, LEOSPHERE SAS, HEXAGON AB, GeoSLAM Ltd., Firmatek LLC, RIEGL Laser Measurement Systems GmbH, Mira Solutions Inc., Aerometric Surveys SA, Airborne Hydrography AB, Faro Technologies Inc., Phoenix LiDAR Systems, Innoviz Technologies Ltd., Waymo LLC, Valeo SA, Neptec Technologies Corp., ZX LIDARS, SICK AG, Quanergy Systems Inc., Teledyne Optech Inc., Trimble Inc., NV5 Global Inc., Huawei Technologies Co. Ltd., Ouster Inc., Luminar Inc., Aeva Technologies Inc., Beijing SureStar Technology Co. Ltd., Quantum Spatial India Private Limited, Topcon Positioning Systems, Cepton Technologies Inc., Optris GmbH, YellowScan Inc., Livox Tech Ltd.

North America was the largest region in the LiDAR market in 2023. Asia-Pacific is expected to be the fastest-growing region in the LiDAR market share during the forecast period. The regions covered in the LiDAR market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the LiDAR market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The LiDAR market includes revenues earned by entities by providing storm surge modeling, hydrodynamic modeling, shoreline mapping, emergency response. The LiDAR market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.