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

  • TBI85978
  • November 28, 2020
  • Global
  • 132 pages
  • Lucintel
                                              

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

The global LiDAR services market size was valued at USD 985.4 million in 2018 and is expected to register a CAGR of 14.5% from 2019 to 2025. LiDAR technology has become an eminent remote sensing tool among the mapping community and land surveyors worldwide. LiDAR technology is used to complement the efficiency of current mapping and remote sensing systems. This is further employed in the inaccessible, remote, and forest areas, in order to compile the ground information and bare-earth feature. The technology uses light energy that is emitted from a laser, which is used to measure variable distances and scan the ground. The growing use of 3D imaging technology for robotics and medical imaging is expected to boost market growth. The LiDAR services are supported by 3D imaging technologies such as textured 3D imaging, which are used in various applications such as 3D mapping and city planning. The adoption of 3D imaging technology is positively influencing market growth, owing to considerable need for LiDAR data processing and mapping services while implementing 3D imaging. Several major players in the market have partnered or acquired LiDAR service providers to increase the scope of vertical integration in the market.For instance, In May 2017, Trimble Inc. acquired Network Mapping Inc., a LiDAR services provider. This acquisition helped the former company to expand its portfolio of energy solutions, through which, it was able to offer 3D visualization services and high-value data modeling for the utilities sector. Further, LiDAR services are growing significantly in the U.S. and Germany, as the transportation agencies are adopting this technology for transportation-related applications such as public transportation including self-driving cabs or autonomous truck fleets. Moreover, rising technological advancement in user interface and diagnostic features for detecting malfunctioning of the LiDAR sensors is expected to boost market growth. Also, there are significant advancements registered in theinertial measurement unit (IMU) technique to provide highly accurate elevation measurements. The market has faced some challenges owing to data and privacy issues associated with LiDAR services. The inefficiency of LiDAR services and lack of appropriate customer awareness are factors restraining the growth of the market. Other services such as aerial surveying require UAV, which poses a threat of privacy issues due to the continuous monitoring of public with drones. Growing awareness of identity protection as well as the risks involved, among customers, is also negatively influencing market growth. Service

Type Insights of LiDAR Services Market

Based on service type, the market is segmented as GIS service, asset management, aerial surveying, ground-based surveying, mapping, and modelling. Modelling segment is further sub-segmented into city modelling and others. In 2018, GIS service accounted for the largest share in the market. The asset management segment is expected to gain highest CAGR over the forecast period. These services have enabled users to generate aerial imaging data, which was earlier both complex and expensive to determine. LiDAR capable drone uses an automated GPS to make multiple passes over a low altitude area to collect data. This data is later used for various applications such as measuring volume, inspecting assets, and handling projects related to land and water management. The adoption of LiDAR services in drone operations, project management, data processing, and determining GPS control points, is anticipated to drive the market over the forecast period.

Application Insights of LiDAR Services Market

Based on application, the LiDAR services market has been categorized into corridor mapping, engineering, environment, exploration, ADAS, and others. In 2018, the corridor mapping segment accounted for the largest share in the market. ADAS segment is estimated to gain highest CAGR over the forecast period. The surging applicability of LiDAR in dynamic applications such as environment, engineering, and others is expected to drive the application segment, with future commercialization of the LiDAR systems. LiDAR services such as ground-based surveying and GIS are required to support ADAS in autonomous vehicles. Thus, increasing awareness about benefits and adoption of LiDAR systems in self-driven vehicles, unmanned/manned aerial vehicles, building modeling, and 3D imagery, is expected to drive the market over the forecast period. Further, services such as the international LiDAR survey are used to collect data for photogrammetry, mapping, and other geospatial projects. Service providers assist their clientele by providing datasets that best suit their requirements. Thus rising adoption of such services in various industries including automotive, construction, and transportation is expected to deliver high growth opportunities for the market.

Regional Insights of LiDAR Services Market

Based on the region, the market has been segmented as North America, South America, Europe, Asia Pacific, and MEA. In 2018, North America accounted for maximum share in the market, followed by Asia Pacific and Europe. The Asia-Pacific regional market is expected to witness strong growth over the forecast period, owing to the rapidly increasing adoption of LiDAR systems in various applications and increasing investments by the government and several non-profit organizations. The growing demand in emerging economies, such as India, Japan, and China, is driving the industry growth in the Asia Pacific region. Favorable government regulations and the growing automotive industry are some of the major factors driving the growth of the market in the Asia Pacific region. For instance, Chinas Ministry of Industry and Information Technology (MIIT) has released a provision that 50% of all new vehicles must have partial or fully autonomous functions by 2022.

Market Share Insights of LiDAR Services Market

The key industry participants are Fugro, GeoDigital, Harris Geospatial Solutions, Inc., Hexagon, Kucera International, Quanergy Systems, Inc., Quantum Spatial, Surdex Corporation, Trimble, Inc., and Terra Remote Sensing. The competitive rivalry among the existing players is high, and the rivalry is based on service differentiation and the cost. In order to retain their position in the market and rise above the price competitiveness, market leaders are focusing on investing in R&D facilities. However, maintaining profit margin and price competitiveness are some of the key concerns of the market. In addition, key automobile producers are expected to enter into partnerships with or acquire . services providers across low-cost labor countries such as India, thereby increasing the scope for vertical integration in the market.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of LiDAR Services 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 services market report based on service type, application, and region:

Service Type Outlook (Revenue, USD Million, 2019 - 2030)

  • GIS Service
  • Asset Management
  • Aerial Surveying
  • Ground-Based Surveying
  • Mapping
  • Modelling
  • City Modelling
  • Others

IIU

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

Table of Contents
Chapter 1 Methodology and Scope                   1.1 Information Procurement and Research Scope                   1.2 Information Analysis                   1.3 Market Formulation & Data Visualization                   1.4 Research Scope and Assumptions                   1.5 List to Data SourcesChapter 2 Executive Summary                   2.1 LiDAR Services Market - Industry Snapshot & Key Buying Criteria, 2014 - 2025                   2.2 LiDAR Services Market, 2014 - 2025Chapter 3 Market Variables, Trends & Scope                   3.1 Market Segmentation & Scope          
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