LiDAR Market Segmentation, Application, Trends, Opportunity & Forecast 2022 To 2030

 

LiDAR Industry Overview

The global LiDAR market size was valued at USD 1.81 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030.

The technological advancements in spatial resolution of LiDAR-based digital terrain models are providing better accuracy in applications such as change detection on hillsides, water runoff for agriculture or mining sites, and inland waterways. The growth of the market is attributed to the rising automation in LiDAR to reduce human efforts and increase efficiency.

Gather more insights about the market drivers, restrains and growth of the LiDAR Market

The rising demand for 3D imagery in application areas such as military & defense, topographical surveys, civil engineering, and corridor mapping is expected to drive the market growth over the forecast period. Textured 3D imagery is applied in applications such as 3D mapping, city planning, and corridor mapping. The installation of advanced safety features is increasing exponentially. Moreover, in countries such as the U.S., self-driving cars are approved by the government on the road; these vehicles are integrated with LiDAR for GPS and navigation applications.

LiDAR is also used in monitoring weather conditions and environmental monitoring. For instance, the Canadian environment monitoring stations utilize LiDAR technology to monitor tropospheric pollution. LiDAR stations are crucial in monitoring the ash from volcanic eruptions that can interfere with air travel. The technology also finds its application in mapping the oil sand monitoring system. These multiple applications of LiDAR technology owing to its enhanced accuracy are expected to propel the growth of the market over the forecast period.

The lack of educated customers is considered a major restraint for the growth of the market. Ascertaining the scope of customer education is essential to reduce the costs of implementing and designing such customer awareness and education programs. Customer education and awareness are crucial for improving the capacity of the people to address development and environmental issues and for stimulating sustainable development.

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Key Companies & Market Share Insights

Various competitors in the market offer innovative solutions, which help consumers address changing technologies, business practices, and security needs. Europe comprises notable players who offer advanced solutions to meet varied application requirements. The key players in the market face intense competition to dominate the market, enabling market consolidation through strategic initiatives such as mergers & acquisitions. Industry participants have entered into a strategic partnership with suppliers and distributors to strengthen their product portfolio and geographical presence. Some prominent players in the global LiDAR market include:

·         Faro Technologies, Inc.

·         Leica Geosystem Holdings AG

·         Teledyne Optech Incorporated (A part of Teledyne Technologies)

·         Trimble Navigation Limited

·         RIEGL USA, Inc.

·         Quantum Spatial, Inc.

·         Velodyne LiDAR, Inc.

·         Sick AG

·         YellowScan

·         GeoDigital

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global LiDAR market report based on product type, application, component, and region:

Product Type Outlook (Revenue, USD Million, 2017 - 2030)                                                                  

·         Airborne

·         Terrestrial

·         Mobile & UAV

Application Outlook (Revenue, USD Million, 2017 - 2030)

·         Corridor Mapping

·         Engineering

·         Environment

·         Exploration

·         Advanced Driver Assistance Systems (ADAS)

·         Others

Component Outlook (Revenue, USD Million, 2017 - 2030)

·         GPS

·         Navigation (IMU)

·         Laser Scanners

·         Others

Regional Outlook (Revenue, USD Million, 2017 - 2030)

·         North America

o    US

o    Canada

o    Mexico

·         Europe

o    Germany

o    UK

o    France

·         Asia Pacific

o    China

o    India

o    Japan

·         South America

o    Brazil

·         Middle East & Africa

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