LiDAR Market Size & Share, Market Research and Industry Forecast Report, 2019-2025 (Includes Business Impact of COVID-19)

  • TBI787202
  • November 28, 2020
  • Global
  • 132 pages
  • Lucintel

Industry Insights, Market Size, CAGR, High-Level Analysis: LiDAR Market

The global LiDAR market size was valued at USD 1.1 billion in 2018. The market is expected to register a CAGR of 17.9% from 2019 to 2025. The technological advancements in spatial resolution of LiDAR-based digital terrain models provide incredible accuracy in applications such as change detection on hillsides, water runoff for agriculture or mining sites, and inland waterways. The market is estimated to grow significantly over the forecast period due to automation in LiDAR, leading to reduction in the human efforts and increased efficiency. Further, owing to rising accuracy of LiDAR technology, it is expected to create great applicability in various industrial applications. The rising demand for 3D imagery in various application areas, such as military and defense, topographical surveys, civil engineering, and corridor mapping, is expected to significantly drive the market over the forecast period. Textured 3D imagery is applied in various applications such as 3D mapping, city planning, and corridor mapping. The installation base of advanced safety features is increasing exponentially. In various countries namely U.S., self-driving cars are approved by the government on road. These vehicles are mainly integrated with the LiDAR for GPS and Navigation applications. LiDAR also finds varying applications in monitoring weather conditions and environmental monitoring. For instance, the Canadian environment monitoring stations utilize LiDAR technology to monitor the tropospheric pollution. These LiDAR stations are also crucial in monitoring the ash from volcanic eruptions that can interfere with air travel. Further, LiDAR technology is also expected to be incorporated to map the oil sands monitoring system. Lack of customer education and awareness is recognized as a restraint for the market. Customer risk awareness and education regarding identity protection are the factors, which are expected to highly influence the market. Security threats to the customers should be assessed periodically in order to increase the worldwide customer base. Education must be provided to the customers regarding the scope and opportunities of the market. They must also be informed regarding the threats in the market along with the measures to tackle the threat. Product

Type Insights of LiDAR Market

On the basis of product type, LiDAR market is segmented as airborne, terrestrial, and mobile and UAV. The airborne segment accounted for major share of the market, which is anticipated to increase in the next few years on account of increasing adoption of aerial mapping devices. Aerial LiDAR is an accurate and thorough method of creating digital elevation models, thereby replacing photogrammetry. This system delivers enhanced accuracy and larger area coverage as compared to its terrestrial counterparts. It provides more extensive area mapping in comparatively shorter time intervals. Terrestrial LiDAR can be both mobile and stationary and terrestrial laser scanning takes place on the Earths surface. Stationary terrestrial scanning is a frequently preferred survey method for monitoring, conventional topography, forensics, and cultural heritage documentation. Mobile and UAV LiDAR operates in both mobile and aerial modes and take place on the Earths surface and surrounding environment respectively. Rising adoption of mobile and UAV LiDAR systems and increasing number of new product launches is expected to draw huge investment from key participants, thus driving the regional market.

Component Insights of LiDAR Market

Based on component, the industry is segmented into GPS component, laser scanners, navigation Inertial Measurement Unit (IMU) device and other complementary LiDAR devices. In addition, the increasing adoption for aerial scanning and mapping operations across the globe, is expected to boost market growth over the forecast period. The laser scanner segment is estimated to be one of the leading industry segments over the forecast period. The segment accounted for the major share of the overall industry in 2018. Laser scanners are used to record an intensity value, which is a measure of return signal strength that can be helpful to distinguish objects of variable reflectivity. Laser scanner (LiDAR) produces 2D point cloud data, which can be used in localization, mapping, and object/environment modeling. The demand for laser scanners is expected to increase substantially with a CAGR of 19.9% during the forecast period.

Application Insights of LiDAR Market

Based on application, the market is segmented into corridor mapping, exploration, engineering, Advanced Driver Assistance Systems (ADAS), environment, and other LiDAR applications. The corridor application segment had the maximum share in 2018 of the total market. The ADAS application is anticipated to register the highest growth with a CAGR of 23.1% during the forecast period on account of surging incorporation of LiDAR-based sensors in numerous automotive safety applications. Corridor mapping application accounted for a major portion of the total market share in 2018 and is expected to witness a reduction in market share during the forecast period. Low-speed collision avoidance systems and driver assistance systems are anticipated to be among the most popular technologies based on corridor mapping. The integration of map-enabled systems into automobiles also provides diverse application options leading to advantages such as lane departure systems, driver assistance systems, and autonomous driving systems.

Regional Insights of LiDAR Market

Based on region, the market is segmented as North America, South America, Asia Pacific, Europe and MEA. The North America market is expected to witness an immense growth in the global market, owing to growing adoption of administrative regulations, mandating the installation of specific automotive safety technologies in both lightweight and heavyweight vehicles in the region. Airborne LiDAR system emerged as the dominant product segment in 2018. Also, alongside these products have made inroads into the U.S and Canada regions as well. The North America region is assured to witness immense growth opportunities from the automotive sector on account of increasing deployment in automotive safety technologies such as advanced driver-assistance systems (ADAS) and Automatic Emergency Braking (AEB) systems. Asia Pacific will emerge as the fastest growing region with a CAGR of 23.9% from 2019 to 2025.

Market Share Insights of LiDAR Market

Some of the key industry participants include Faro Technologies Inc.; Leica Geosystems Holdings AG; Trimble Navigation Limited; Velodyne LiDAR, Inc.; and RIEGL USA Inc. The various competitors prevalent in the market are challenged to provide innovative offerings, which help consumers, address changing technologies, business practices, and security needs. A large number of notable players are based in Europe and are involved in offering advanced solutions for meeting the requirements across varied applications. The current market environment is witnessing an intense competition between the key players to achieve market dominance via enhancement of quality and product differentiation. It, thereby enables market consolidation through strategic initiatives such as alliances, mergers, and acquisitions. Industry participants have entered into strategic partnership with suppliers and distributors to strengthen their product portfolio and geographical presence.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of LiDAR Market Research Report

This report forecasts revenue growth at global, regional, and country level and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For this study, this market research report has segmented the global LiDAR market report based on product type, application, component, and region. Product Type Outlook (Revenue, USD Million, 2019 - 2030) Airborne Terrestrial Mobile & UAV

Application Outlook (Revenue, USD Million, 2019 - 2030)

  • Corridor Mapping
  • Engineering
  • Environment
  • Exploration
  • ADAS
  • Others

Component Outlook (Revenue, USD Million, 2019 - 2030)

  • GPS
  • Navigation (IMU)
  • Laser Scanners
  • Others

Table of Contents
Chapter 1 Methodology and Scope                   1.1 Research Methodology                   1.2 Research Scope & AssumptionsChapter 2 Executive SummaryChapter 3 Market Snapshot                   3.1 LiDAR - Industry Snapshot & Key Buying Criteria, 2014-2025Chapter 4 Industry Outlook                   4.1 Market Segmentation & Scope                   4.2 LiDAR market size and growth prospects                   4.3 LiDAR- Value Chain Analysis                   4.4 Market Dynamics                       4.4.1 Market driver analysis                  The growing e
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