LiDAR Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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LiDAR Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : August, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Global LiDAR Market: Snapshot

The global LiDAR market is predicted by seasoned market analysts to expect high growth prospects taking birth on the back of leading applications such as meteorology, cartography, urban planning, exploration, driverless cars, advanced driver assistance systems (ADAS), engineering, and corridor mapping. Amongst all of these applications, the demand for LiDAR could be considerably improved by the rising usage of corridor mapping in roadways mapping. The swelling demand in engineering and construction applications is anticipated to add to the popularity of ground-based LiDAR in the coming years. Nevertheless, there could also be opportunities created for other products such as unmanned aerial vehicle (UAV) LiDAR, aerial LiDAR, and solid-state LiDAR.

The global LiDAR market for driverless cars and ADAS is envisaged to grow at an aggressive pace in the near future. This could be because of the rising adoption of ADAS and growing inclination toward self-driven cars in important automotive regions such as North America and Europe. Besides this, the market for laser scanners could see a consistent rise in the foreseeable future owing a vital application in LiDAR related to scanning and the generation of 3D images of the scanned areas. The faster growth rate of this market could be attributed to the mounting demand for LiDAR system and quick development of laser technology.

Companies operating in the global LiDAR market are foreseen to hold a portfolio comprising of a broad array of products that could help diversify business risks and enable sustainable business growth.

Global LiDAR Market: Overview 

LiDAR, acronym for Light Detection and Ranging, is a remote sensing technology that emits light towards a target object to unearth information about it and gauge the range of a distant target from the light that is being reflected back. It can be compared to RADAR and SONAR in many ways. However, unlike a RADAR and SONAR, LiDAR uses light waves of shorter wavelengths. The wavelengths of the electronic spectrum for LiDAR technology are mostly within the visible, ultraviolet, and infrared range. 

The LiDAR technology helps in measuring of 3D structures directly and assessing the underlying terrain with high resolution and data accuracy. The two main types of LiDAR are Airborne LiDAR, consisting of topographic and bathymetric LiDAR, and Terrestrial LiDAR, consisting of mobile LiDAR and short range LiDAR. 

Global LiDAR Market: Key Trends 

The soaring demand for 3D imagery in different end use segments such as construction, transportation, power transmission, and defense and aerospace is the primary driving factor in the global LiDAR market. Additionally, LiDAR technology saves both cost and time which has resulted in their higher uptake compared to conventional methods of mapping. LiDAR technology has already superseded photogrammetry as it steals a march over the latter in terms of light independency and high accuracy.

Countering the growth in the global LiDAR market is the complexity in data interpretation because of dearth of standardization. 

Global LiDAR Market: Market Potential 

LiDARs find application in autonomous driving, which is yet to become mainstream. Once it so happens, their market will receive a substantial boost. LiDAR/INS integrated navigation systems can bring about continuous and accurate navigation solutions in GNSS-challenged environments, on different platforms that include mobile robot navigation, unmanned ground vehicles, and autonomous driving. Another factor working to their favor are their increasing availability and decreasing prices.  

Depending upon the type of product, the global LiDAR market is segmented into terrestrial LiDAR and airborne LiDAR. Among them, airborne or aerial LiDAR mapping leads the market. Based on application again, the LiDAR market is divided into transmission lines, forestry, infrastructure, coastal, transportation, defense and aerospace, flood mapping, and others such as hydrography and mining. Different coastal applications contribute maximum to the LiDAR market because of the growing utilization of LiDAR in disaster management and control. In terms of growth, however, transmission lines will overtake all other segments in the LiDAR market because of robust demand for power utilities. 

Global LiDAR Market: Regional Outlook 

Geography-wise, the global market for LiDAR is segmented into Asia Pacific, North America, Europe, and the Rest of the World. Among them, North America is a market leader because of high penetration of LiDAR in defense and military applications and substantial spending on research and development to improvise on existing LiDAR technologies. Europe trails North America in terms of market share and going forward is predicted to overtake North America due to the presence of prominent players bolstering the market and catering to the rising demand for the massive consumer base. The Rest of the World and Asia Pacific will also witness stellar growth. 

Global LiDAR Market: Competitive Analysis 

Some of the main strategies adopted by companies in the global LiDAR market is new product development and enhancements leveraging cutting-edge technologies. To assess the competition in the global market for LiDAR, the report profiles companies such as Airborne Hydrography AB, 3D Laser Mapping Ltd., Aerometric Inc., DigitalWorld Mapping Inc., Intermap Technologies Corp., FARO Technology, Inc., RIEGL Laser Measurement Systems GmbH, Leica Geosystems AG, Mosaic 3D, Avent Lidar Technology, Firmatek 3D Mapping Solutions LLC, and Optech Incorporated.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.