Global LiDAR Market Insights Forecasts to 2030

• The LiDAR Market Size was valued at USD 1.5 billion in 2021.
• The market is growing at a CAGR of 13.8% from 2021 to 2030
• The Worldwide LiDAR Market is expected to reach USD 4.83 billion by 2030
• Asia Pacific is expected to grow the fastest during the forecast period

The Global LiDAR Market Size is expected to reach USD 4.83 billion by 2030, at a CAGR of 13.8% during the forecast period 2021 to 2030. The increased implementation of LiDAR technology in environmental mapping, vehicle safety implementation settings, and constructions and architectural sectors for monitoring 3D-modeling applications, among others, is driving market expansion.

LiDAR is an abbreviation for light detection and ranging or laser imaging, detection, and ranging. It is also known as 3-D laser scanning, which is a hybrid of 3-D scanning and laser scanning. Lidar is commonly utilized for creating high-resolution maps and has a wide range of applications, including laser navigation, airborne laser swath mapping (ALSM), laser altimetry, archaeology, geography, geology, geomorphology, seismology, forestry, and geodesy.

LiDAR systems can provide a thorough survey of large areas quickly and accurately. Furthermore, laser scanners with global positioning system assistance and incredibly sensitive cameras let engineers create designs that match project standards and provide precise feasibility evaluations. LiDAR technology enables scientists and mapping specialists in the oil and gas and mining industries to analyze constructed and natural surroundings over a broad spectrum of scales with increased precision, resolution, and mobility compared to previous generations. Increasing demand for UAVs or drones for a variety of applications, including videography and photography, engineering, and threat identification, among others, is a major contributor to market growth.

Driving Factors

The rapidly increasing tendency in the market due to the increased automation in LiDAR, which aims to decrease the human workforce and increase efficiency, is driving the market demand. LiDAR technology is growing rapidly as the popularity of sophisticated 3D imaging technology grows across a range of security and surveillance operations. Furthermore, the market is expanding as a result of the rising application of various LiDAR systems in UAVs, LiDAR in engineering and construction applications, the introduction of 4D LiDAR, the relaxation of restrictions controlling the use of commercial drones in various applications, and other factors.

Additionally, increasing awareness, coupled with LiDAR's superior technological efficiency over competing technologies, is driving LiDAR market expansion. Also, the adoption of 4D LiDAR technology is anticipated to increase in conjunction with the emerging popularity of automated vehicles. 4D LiDAR is projected to improve the support provided to autonomous driving systems, allowing for faster and safer driving judgments. As a result of its improved precision, LiDAR technology is predicted to have a wide range of applications, propelling the market's expansion throughout the projected time frame.

Restraining Factors

However, LiDAR technologies are extremely expensive when compared to traditional surveying methods, stifling industry expansion. Furthermore, the proliferation of low-cost and mobile photogrammetry technologies for surveys and mapping is expected to hinder the expansion of the LiDAR business. Additionally, a lack of educated customers is regarded as a serious impediment to market growth. It is critical to guide and inform the public in order to strengthen the people's ability to deal with environmental and development concerns and to support sustainable development for using LiDAR systems.

Market Segmentation

By Component Insights

The laser scanner segment is dominating the market with the largest revenue share over the forecast period.

On the basis of components, the global LiDAR market is segmented into laser scanner, sensors, navigation & positioning systems, and others. Among these, the laser scanner segment is dominating the market with the largest revenue share of 43% over the forecast period. This is owing to major expenditures in the production of low-cost, high-volume scanning components, as well as the elimination of limitations associated with LiDAR systems. Some significant aspects boosting market development in this industry include increased efficiency dependability, lower manufacturing costs, and high durability to better handle thermal volatility. LiDAR sub-system modules with a larger Field of View (FoV) than standard LiDAR components are being designed and manufactured by competitive industry operating in various nations. Furthermore, efforts are being made to accommodate demanding high-vibration automotive and aerial applications by product type.

By Installation Type Insights

The airborne segment accounted the largest market share over the forecast period.

On the basis of installation type, the global LiDAR market is segmented into airborne, terrestrial, and mobile & UAV. Among these, the airborne segment is dominating the market and is going to continue its dominance over the forecast period due to the increasing adoption of aerial mapping devices. Airborne LiDAR systems are installed to aerial vehicles such as planes, helicopters, or drones. It provides the rapid collection of data sets, which makes it an excellent solution for monitoring, inspecting, and tracking. The airborne LiDAR approach is a precise and comprehensive method of constructing digital representations of elevation, which has mostly replaced photogrammetry. When compared to terrestrial options, this approach covers a larger region and maps a larger area in less time. Furthermore, airborne LiDAR is a precise means of creating digital representations of elevation.

By Application Insights

The robotic vehicles segment accounted the largest revenue share of more than 45% over the forecast period.

On the basis of application, the global LiDAR market is segmented into corridor mapping, engineering, environment, robotic vehicles, advanced driver assistance systems, exploration, urban planning, cartography, meteorology, and other applications. Among these, the robotic vehicle is dominating the market with the largest revenue share of 45% over the forecast period. The rising adoption of application of LiDAR technology in robotic cars, automotive guided vehicles (AGVs), unmanned vehicles, and drones is fuelling the demand for the market during the forecast period. A self-driving vehicle is capable of viewing the surroundings with a continuous 360-degree view thanks to LiDAR. This also allows for extremely accurate comprehensive information. Consequently, deploying LiDAR in robotic vehicles entails using numerous LiDARs to map the vehicle's surroundings. The application of LiDAR is likely to be required for a greater extent of sensor reliability to ensure the security of its passengers. The appropriate development of fully autonomous or robotic vehicles for passengers is currently in the initial stage, and LiDAR is likely to play a significant role in these vehicles as well.

Regional Insights

North America dominates the market with the largest market share over the forecast period.

North America is dominating the market with more than 48.5% market share over the forecast period. This is owing to the region's widespread adoption of governmental regulations requiring the installation of specified vehicle safety measures in both light and heavyweight vehicles. North America experienced growth potential in the automotive industry as a result of the increasing acceptance of innovations including such Advanced Driver-Assistance System (ADAS) and autonomous vehicles, as well as increased recognition of the advantages of LiDAR systems. Furthermore, leading companies in the LiDAR industry are headquartered in North America, including manufacturers, researchers, intermediaries, and distributors of LiDAR sensors and systems.

Asia Pacific, on the contrary, is expected to grow the fastest during the forecast period. The rapid growth for LiDAR systems in the commercial production and IT & telecommunications industries is driving growth in this region. Increasing demand from emerging economies like China, Japan, India, and South Korea is propelling the region's LiDAR marketplace forward. Because of rising government and foreign investor investment opportunities, market growth in countries such as India and Korea is expected to have a tremendous CAGR during the projected timeframe. Moreover, in Japan, the LiDAR sensor is a key enabling technology for the prospective automated processes, which advanced technology solutions automated, fully automated, and driver assistance.

List of Key Market Players

• Sick AG
• YellowScan
• Valeo
• GeoDigital
• Faro Technologies, Inc.
• Airborne Hydrography AB
• Trimble Navigation Limited
• RIEGL USA, Inc.
• Xenomatrix
• OSRAM
• Denso Corporation
• GeoSLAM Ltd.
• Leica Geosystems Holdings AG
• Firmatek LLC
• Velodyne LiDAR, Inc.
• Teledyne Optech Incorporated
• Quantum Spatial, Inc.
• Mira Solutions Inc.
• Beijing SureStar Technology Co. Ltd.
• HEXAGON
• Aerometric Surveys

Key Market Developments

• In November 2022, Ouster, a prominent developer of high-resolution digital lidar, and Velodyne, a global leader in lidar sensors and solutions, announced that they have engaged into an all-stock merger agreement. Through powerful product portfolios, greater operating efficiencies, and a complementary client base in fast-growing end-markets, the proposed merger is expected to produce considerable value creation and result in a solid financial position.

• In July 2022, Trimble Inc. expanded its geospatial scanning portfolio with the Trimble X12 scanning system. The Trimble X12 combines user-friendly Trimble software for precise data capture and in-field registration with cutting-edge 3D laser scanning and imaging hardware technologies.

• In December 2021, Valeo announced that the new Mercedes-Benz S-Class, capable of reaching Level 3 automation, is the world's first vehicle to be outfitted with its second-generation Valeo SCALA® LiDAR. The Mercedes-Benz S-Class will be able to drive in conditionally autonomous mode under controlled conditions, such as on the motorway or in congested traffic, thanks to Valeo SCALA®.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global LiDAR Market based on the below-mentioned segments:

LiDAR Market, Component Analysis

• Laser Scanner
• Sensors
• Navigation & Positioning Systems
• Others

LiDAR Market, Type Analysis

• Solid State
• Mechanical

LiDAR Market, Installation Analysis

• Airborne
• Terrestrial
• Mobile & UAV

LiDAR Market, Application Analysis

• Corridor Mapping
• Engineering
• Environment
• Robotic Vehicles
• Advanced Driver Assistance Systems
• Exploration
• Urban Planning
• Cartography
• Meteorology
• Other Applications

LiDAR Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa