The global LiDAR market size reached US$ 2.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 20.9% during 2023-2028. The increasing sales of AVs, rising construction activities, and the growing number of mining activities represent some of the key factors driving the market.
Light detection and ranging (LiDAR) is a remote sensing technology that uses laser light to measure distances and create precise 3D models of environments. Its system comprises a laser, scanner, and specialized GPS receiver that operates by targeting an object with a pulsed laser and calculating the time taken for the reflected light to return to the receiver. Its sensors can scan large areas quickly, detect obstacles and prevent accidents. It can be mounted on various platforms, including a tripod, aircraft, helicopter, drone, vehicle, and train. It is used for examining, detecting, and mapping of objects due to its high precision, low cost, and enhanced features as compared to conventional methods. It is also utilized to quickly assess damage to infrastructure after a disaster, such as a hurricane or an earthquake.
2. What is the expected growth rate of the global LiDAR market during 2023-2028?
3. What are the key factors driving the global LiDAR market?
4. What has been the impact of COVID-19 on the global LiDAR market?
5. What is the breakup of the global LiDAR market based on the component?
6. What is the breakup of the global LiDAR market based on the application?
7. What are the key regions in the global LiDAR market?
8. Who are the key players/companies in the global LiDAR market?
Light detection and ranging (LiDAR) is a remote sensing technology that uses laser light to measure distances and create precise 3D models of environments. Its system comprises a laser, scanner, and specialized GPS receiver that operates by targeting an object with a pulsed laser and calculating the time taken for the reflected light to return to the receiver. Its sensors can scan large areas quickly, detect obstacles and prevent accidents. It can be mounted on various platforms, including a tripod, aircraft, helicopter, drone, vehicle, and train. It is used for examining, detecting, and mapping of objects due to its high precision, low cost, and enhanced features as compared to conventional methods. It is also utilized to quickly assess damage to infrastructure after a disaster, such as a hurricane or an earthquake.
LiDAR Market Trends:
LiDAR is employed in the automotive industry to detect and track lane markings, which can be used for lane departure warnings and lane keeping assistance, measuring the distance between vehicles, and adjusting the speed of the vehicle accordingly. This, coupled with the increasing sales of autonomous vehicles (AVs) on account of rapid urbanization and inflating income levels, represents one of the major factors bolstering the market growth around the world. Moreover, the rising construction activities of roads, bridges, and tunnels on account of the growing global population and increasing investments in the development of smart cities are influencing the market positively. In addition, the rising use of LiDAR in energy production to survey sites for renewable energy projects, such as wind farms and solar power plants, is favoring the growth of the market. Apart from this, the growing usage of LiDAR systems in the aerospace and defense industries for tracking low flying aircraft, as they can accurately measure the dimension and distance of the target and perform efficiently in all weather conditions, is creating a positive outlook for the market. Furthermore, there is an increase in the adoption of LiDAR in the mining industry for mapping underground tunnels and identifying potential safety hazards. This, along with the rising number of mining activities, is propelling the growth of the market.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global LiDAR market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on installation type, component and application.Installation Type Insights:
- Airborne
- Terrestrial
Component Insights:
- Laser Scanners
- Navigation Systems
- Global Positioning Systems
- Others
Application Insights:
- Corridor Mapping
- Engineering
- Environment
- Exploration
- ADAS
- Others
Regional Insights:
North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for LiDAR. Some of the factors driving the North America LiDAR market included extensive research and development (R&D) activities, government initiatives, technological advancements, etc.Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global LiDAR market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Faro Technologies Inc, Innoviz Technologies Ltd., LeddarTech Inc., Leica Geosystems AG (Hexagon AB), NV5 Global Inc., Quanergy Systems Inc., RIEGL Laser Measurement Systems GmbH, Sick AG, Teledyne Technologies Inc, Trimble Inc., Valeo, Velodyne Lidar Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. What was the size of the global LiDAR market in 2022?2. What is the expected growth rate of the global LiDAR market during 2023-2028?
3. What are the key factors driving the global LiDAR market?
4. What has been the impact of COVID-19 on the global LiDAR market?
5. What is the breakup of the global LiDAR market based on the component?
6. What is the breakup of the global LiDAR market based on the application?
7. What are the key regions in the global LiDAR market?
8. Who are the key players/companies in the global LiDAR market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global LiDAR Market
6 Market Breakup by Installation Type
7 Market Breakup by Component
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Faro Technologies Inc
- Innoviz Technologies Ltd.
- LeddarTech Inc.
- Leica Geosystems AG (Hexagon AB)
- NV5 Global Inc.
- Quanergy Systems Inc.
- RIEGL Laser Measurement Systems GmbH
- Sick AG
- Teledyne Technologies Inc
- Trimble Inc.
- Valeo and Velodyne Lidar Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 146 |
| Published | May 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 2.2 Billion |
| Forecasted Market Value ( USD | $ 7 Billion |
| Compound Annual Growth Rate | 21.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
