LIDAR Market Size is projected to reach USD 6.93 Billion by 2030, growing at a CAGR of 19.27%: Straits Research
The global LIDAR market size was valued at USD 1.42 billion in 2021. It is estimated to reach an expected value of USD 6.93 billion by 2030, growing at a CAGR of 19.27% during the forecast period (2022–2030). North America's market is expected to govern a substantial market share in the global market.
New York, United States, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The global market of LiDAR is projected to progress at a decent pace of growth, with significant growth is expected in the latter half of the forecast period. The benefits of LiDAR technology over conventional competitive technologies is the main reason behind the market development. Increased degree of fragmentation in the market and the emergence of technologies such as 4D radars with continuous signal transmission bolster its growth.
Efficiency in the operations, more accurate and precise calculations, time-saving and productive output generation are the advantages over other conventional surveying and assessment solutions, promoting the market's growth in the forecast years.
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Impact of Covid-19
Due to the COVID-19 outbreak, the companies' financial instability is expected to restrain these consumers from opting for the LiDAR products due to the high initial price of the LiDAR systems. The decrement in automobile manufacturing and decreasing demand for these vehicles to create a steep downfall for automobile vehicle sales till the time of resurgence by the end of 2021. These conditions will reduce the effect of growth perspectives that are expected to be generated by the adoption of LiDAR systems in ADAS and driverless cars.
Market Segmentation
The environment segment is expected to emerge as a leader in terms of market share hold by these segments. The ability to provide a more thorough and productive analysis regarding the forest coverage, vegetation characterization, density of the tree cover, and average height of the tree cover above ground offers growth for the market. The manual techniques for these applications are time-consuming, laborious, and based on approximations. The accurate, exact analysis covering a large amount of assessment area is the prime benefit of using the LiDAR system.
Development of new advanced products with the consideration of cost-effectiveness and outcomes addressing the requirements of different applications to develop the market for LiDAR.
Report Scope
Report Metric | Details |
Market Size | USD 6.93 Billion by 2030 |
CAGR | 19.27% (2022-2030) |
Historical Data | 2019-2020 |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Technology, Service, Component, Application, Regions |
Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
Key Companies Profiled/Vendors | Trimble, Inc. (US), VelodyneLidar, Inc. (US), Sick AG (Germany), Valeo (France), Waymo(U.S.),TopCon(U.S.), Hexagon (Sweden), Teledyne Optech (Canada), RIEGL Laser Measurement Systems GmbH (Austria), Leosphere (Austria), Beijing SureStar Technology Co. Ltd. (China), Firmatek, LLC, Aerometric Surveys, among others |
Key Market Opportunities | Requirement in Automotive OEMs |
Key Market Drivers | The adoption of LIDAR systems amongst prominent sectors |
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Regional Analysis
North America's market is expected to govern a substantial market share in the global market by adopting LiDAR systems in various applications and market entry of major technology development global companies. The increased competition in terms of the development of cost-effective solutions is also expected to develop the market.
The Asia-Pacific market is expected to develop as the most lucrative market on the back of established automotive manufacturing clusters of automobile manufacturers in the region. The increasing production in countries like China, India, and Japan developed markets in the ADAS segment in the latter half of the forecast period.
Key Highlights
The global LIDAR market size was valued at USD 1.42 billion in 2021. It is estimated to reach an expected value of USD 6.93 billion by 2030, growing at a CAGR of 19.27% during the forecast period (2022–2030).
The environment segment is expected to emerge as a leader in terms of market share hold by these segments.
North America's market is expected to govern a substantial market share in the global market.
Key players in the global LiDAR market are
Trimble, Inc. (U.S.)
Velodyne Lidar Inc. (U.S.)
Sick AG (Germany)
Valeo (France)
Waymo (U.S.)
TopCon (U.S.)
Hexagon (Sweden)
Teledyne Optech (Canada)
RIEGL Laser Measurement Systems GmbH (Austria)
Leosphere (Austria)
Beijing SureStar Technology Co. Ltd. (China)
Firmatek LLC
Aerometric Surveys
LiDAR Market: Segmentation
By Technology
2D LiDAR
3D LiDAR
4D LiDAR
By service
Aerial surveying
Asset management
GIS services
Ground-based surveying
Other services
By component
Laser scanners
Navigation and positioning systems
Others
By application
Corridor mapping
Engineering
Environment
ADAS and driverless cars
Exploration
Urban planning
Cartography
Meteorology
Other applications
By Region
North America
Europe
The Middle East and Africa (MEA)
Asia-Pacific
Central and South America and the Caribbean
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Market Overview
3.1 Report Segmentation & Scope
3.2 Value Chain Analysis: LiDAR Market
3.3 Key Market Trends
3.3.1 Drivers
3.3.2 Restraints
3.3.3 Opportunities
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of Substitution
3.4.4 Threat of New Entrants
3.4.5 Competitive Rivalry
3.5 Impact of Corona on Market
3.6 Market Share Analysis
4 TechnologyOverview
4.1 Introduction
4.1.1 Market Size & Forecast, 2020-2030, (USD Million)
4.2 2D LiDAR
4.2.1 Market Size & Forecast, 2020-2030, (USD Million)
4.3 3D LiDAR
4.3.1 Market Size & Forecast, 2020-2030, (USD Million)
4.4 4D LiDAR
4.4.1 Market Size & Forecast, 2020-2030, (USD Million)
5 ServiceOverview
5.1 Introduction
5.1.1 Market Size & Forecast, 2020-2030, (USD Million)
5.2 Aerial surveying
5.2.1 Market Size & Forecast, 2020-2030, (USD Million)
5.3 Asset management
5.3.1 Market Size & Forecast, 2020-2030, (USD Million)
5.4 GIS services
5.4.1 Market Size & Forecast, 2020-2030, (USD Million)
5.5 Ground-based surveying
5.5.1 Market Size & Forecast, 2020-2030, (USD Million)
5.6 Other services
5.6.1 Market Size & Forecast, 2020-2030, (USD Million)
6 Component Overview
6.1 Introduction
6.1.1 Market Size & Forecast, 2020-2030, (USD Million)
6.2 Laser scanners
6.2.1 Market Size & Forecast, 2020-2030, (USD Million)
6.3 Navigation and positioning systems
6.3.1 Market Size & Forecast, 2020-2030, (USD Million)
6.4 Others
6.4.1 Market Size & Forecast, 2020-2030, (USD Million)
7 Application Overview
7.1 Introduction
7.1.1 Market Size & Forecast, 2020-2030, (USD Million)
7.2 Corridor mapping
7.2.1 Market Size & Forecast, 2020-2030, (USD Million)
7.3 Engineering
7.3.1 Market Size & Forecast, 2020-2030, (USD Million)
7.4 Environment
7.4.1 Market Size & Forecast, 2020-2030, (USD Million)
7.5 ADAS & driverless cars
7.5.1 Market Size & Forecast, 2020-2030, (USD Million)
7.6 Exploration
7.6.1 Market Size & Forecast, 2020-2030, (USD Million)
7.7 Urban planning
7.7.1 Market Size & Forecast, 2020-2030, (USD Million)
7.8 Cartography
7.8.1 Market Size & Forecast, 2020-2030, (USD Million)
7.9 Meteorology
7.9.1 Market Size & Forecast, 2020-2030, (USD Million)
7.10 Other applications
7.10.1 Market Size & Forecast, 2020-2030, (USD Million)
8 Regional Analysis
8.1 Introduction
6.1.1 Market Size & Forecast, 2020-2030, (USD Million)
8.2 North America
8.2.1 Market Size & Forecast, 2020-2030, (USD Million)
8.2.2 U.S.
8.2.2.1 By Technology
8.2.2.2 By Service
8.2.2.3 By Component
8.2.2.4 By Application
8.2.3 Canada
8.2.3.1 By Technology
8.2.3.2 By Service
8.2.3.3 By Component
8.2.3.4 By Application
8.2.4 Mexico
8.2.4.1 By Technology
8.2.4.2 By Service
8.2.4.3 By Component
8.2.4.4 By Application
8.3 Europe
8.3.1 Market Size & Forecast, 2020-2030, (USD Million)
8.3.2 Germany
8.3.2.1 By Technology
8.3.2.2 By Service
8.3.2.3 By Component
8.3.2.4 By Application
8.3.3 France
8.3.3.1 By Technology
8.3.3.2 By Service
8.3.3.3 By Component
8.3.3.4 By Application
8.3.4 U.K.
8.3.3.1 By Technology
8.3.3.2 By Service
8.3.3.3 By Component
8.3.3.4 By Application
8.3.5 Italy
8.3.5.1 By Technology
8.3.5.2 By Service
8.3.5.3 By Component
8.3.5.4 By Application
8.3.6 Spain
8.3.6.1 By Technology
8.3.6.2 By Service
8.3.6.3 By Component
8.3.6.4 By Application
8.3.7 Benelux
8.3.7.1 By Technology
8.3.7.2 By Service
8.3.7.3 By Component
8.3.7.4 By Application
8.3.8 Russia
8.3.8.1 By Technology
8.3.8.2 By Service
8.3.8.3 By Component
8.3.8.4 By Application
8.3.9 Rest of Europe
8.3.9.1 By Technology
8.3.9.2 By Service
8.3.9.3 By Component
8.3.9.4 By Application
8.4 Asia Pacific
8.4.1 Market Size & Forecast, 2020-2030, (USD Million)
8.4.2 Japan
8.4.2.1 By Technology
8.4.2.2 By Service
8.4.2.3 By Component
8.4.2.4 By Application
8.4.3 China
8.4.3.1 By Technology
8.4.3.2 By Service
8.4.3.3 By Component
8.4.3.4 By Application
8.4.4 Australia
8.4.4.1 By Technology
8.4.4.2 By Service
8.4.4.3 By Component
8.4.4.4 By Application
8.4.5 India
8.4.5.1 By Technology
8.4.5.2 By Service
8.4.5.3 By Component
8.4.5.4 By Application
8.4.6 South Korea
8.4.6.1 By Technology
8.4.6.2 By Service
8.4.6.3 By Component
8.4.6.4 By Application
8.4.7 Southeast Asia
8.4.7.1 By Technology
8.4.7.2 By Service
8.4.7.3 By Component
8.4.7.4 By Application
8.4.8 Taiwan
8.4.8.1 By Technology
8.4.8.2 By Service
8.4.8.3 By Component
8.4.8.4 By Application
8.4.9 Rest of Asia-Pacific
8.4.9.1 By Technology
8.4.9.2 By Service
8.4.9.3 By Component
8.4.9.4 By Application
8.5 MEA
8.5.1 Market Size & Forecast, 2020-2030, (USD Million)
8.5.2 Saudi Arabia
8.5.2.1 By Technology
8.5.2.2 By Service
8.5.2.3 By Component
8.5.2.4 By Application
8.5.3 South Africa
8.5.3.1 By Technology
8.5.3.2 By Service
8.5.3.3 By Component
8.5.3.4 By Application
8.5.4 UAE
8.5.4.1 By Technology
8.5.4.2 By Service
8.5.4.3 By Component
8.5.4.4 By Application
8.5.5 Egypt
8.5.5.1 By Technology
8.5.5.2 By Service
8.5.5.3 By Component
8.5.5.4 By Application
8.5.6 Rest of MEA
8.5.6.1 By Technology
8.5.6.2 By Service
8.5.6.3 By Component
8.5.6.4 By Application
8.6 South America
8.6.1 Market Size & Forecast, 2020-2030, (USD Million)
8.6.2 Brazil
6.6.2.1 By Technology
6.6.2.2 By Service
6.6.2.3 By Component
6.6.2.4 By Application
8.6.3 Argentina
6.6.3.1 By Technology
6.6.3.2 By Service
6.6.3.3 By Component
6.6.3.4 By Application
8.6.4 Chile
6.6.4.1 By Technology
6.6.4.2 By Service
6.6.4.3 By Component
6.6.4.4 By Application
8.6.5 Peru
8.6.5.1 By Technology
8.6.5.2 By Service
8.6.5.3 By Component
8.6.5.4 By Application
8.6.6 Rest of South America
8.6.6.1 By Technology
8.6.6.2 By Service
8.6.6.3 By Component
8.6.6.4 By Application
9 Company Profile
9.1 Trimble, Inc.
9.1.1 Company Overview
9.1.2 Financial Performance
9.1.3 Recent Developments
9.1.4 Product Portfolio
9.2 Velodyne Lidar, Inc.
9.2.1 Company Overview
9.2.2 Financial Performance
9.2.3 Recent Developments
9.2.4 Product Portfolio
9.3 Sick AG
9.3.1 Company Overview
9.3.2 Financial Performance
9.3.3 Recent Developments
9.3.4 Product Portfolio
9.4 Valeo
9.4.1 Company Overview
9.4.2 Financial Performance
9.4.3 Recent Developments
9.4.4 Product Portfolio
9.5 Waymo
9.5.1 Company Overview
9.5.2 Financial Performance
9.5.3 Recent Developments
9.5.4 Product Portfolio
9.6 TopCon
9.6.1 Company Overview
9.6.2 Financial Performance
9.6.3 Recent Developments
9.6.4 Product Portfolio
9.7 Hexagon
9.7.1 Company Overview
9.7.2 Financial Performance
9.7.3 Recent Developments
9.7.4 Product Portfolio
9.8 Teledyne Optech
9.8.1 Company Overview
9.8.2 Financial Performance
9.8.3 Recent Developments
9.8.4 Product Portfolio
9.9 RIEGL Laser Measurement Systems GmbH
9.9.1 Company Overview
9.9.2 Financial Performance
9.9.3 Recent Developments
9.9.4 Product Portfolio
9.10 Leosphere
9.10.1 Company Overview
9.10.2 Financial Performance
9.10.3 Recent Developments
9.10.4 Product Portfolio
9.11 Beijing SureStar Technology Co. Ltd.
9.11.1 Company Overview
9.11.2 Financial Performance
9.11.3 Recent Developments
9.11.4 Product Portfolio
9.12 Firmatek LLC
9.12.1 Company Overview
9.12.2 Financial Performance
9.12.3 Recent Developments
9.12.4 Product Portfolio
Table of Content and Figure @ https://straitsresearch.com/report/lidar-market/toc
News Media
Waymo To Sell LIDAR Sensors To Cut Down Cost Of Self Driving Cars
Solid-State LiDAR Technology Are Gaining Traction to Complement Autonomous Vehicles & Sensor Fusion
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