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LiDAR in Construction Market Size - By Product (UAV, Airborne, Terrestrial), By Type (Solid-state, Mechanical), By Application (Surveying, Mapping, Elevation Modelling, Ecological Analysis), End-user & Forecast, 2022 - 2030
Report ID: GMI5336
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Published Date: September 2022
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Report Format: PDF
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Premium Report Details
Base Year: 2021
Companies covered: 21
Tables & Figures: 443
Countries covered: 19
Pages: 320
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LiDAR in Construction Market Size
LiDAR in Construction Market size valued at USD 450 million in 2021 and is projected to grow at around 10% CAGR from 2022 to 2030.
Burgeoning demand for 3D printing in the construction industry will propel the use of LiDAR. Governments of developing nations have also been implementing various initiatives to utilize advanced mapping technologies, including LiDAR, to produce high-resolution maps for engineering works & projects related to state planning.
The soaring popularity of BIM technology implemented with LiDAR will also push the growth of the LiDAR in construction market. Prominent companies in the industry have also been engaging in rigorous research and development activities to enhance the accuracy of LiDAR technology systems to hold a strong position in the market. In addition, they have been adopting several strategic measures, such as partnerships, collaborations, mergers, and acquisitions, to improve their business standing in the upcoming years.
Lack of advancements in operational software may restrain industry progression
The absence of adequate software advancements to support technological innovations in LiDAR hardware is a major factor driving market growth. Existing software solutions have been failing to extract the full potential of hardware-based advancements including the advent of the solid-state LiDAR technology, which is preventing its adoption in certain industry verticals. Nonetheless, ongoing developments in LiDAR technology will encourage companies to adopt LiDAR in construction applications.
LiDAR in Construction Market Analysis
The airborne LiDAR segment held nearly 20% of the LiDAR in Construction market share in 2021 and is slated to garner substantial revenue through 2030. This growth is attributed to technological advancement and the mounting demand for customized mapping and surveying solutions in several nations. The airborne segment is further classified into topographic and bathymetric. The topographic segment captured above 70% revenue share in 2021 led by escalating product usage for measuring terrestrial lands using the LiDAR technology.
The solid-state segment is poised to witness around 30% growth through 2030 owing to its inexpensive nature. The lesser price point makes it a highly preferable choice among most consumers over its counterpart. Moreover, solid-state integrated systems offer better performance than traditional LiDAR solutions.
The LiDAR mapping market is set to hold about 30% of the market share by 2030. The rising need for a high resolution, compact, and low-cost mapping solution is boosting the LiDAR mapping segment growth. Moreover, the accuracy of LiDAR technology is also proliferating its use in mapping.
LiDAR in construction market for the private sector is estimated to progress at about 10% growth rate from 2022 to 2030. The segmental development is attributed to the amplifying demand for complex large infrastructure at a reasonable cost. Additionally, the growth of private companies in varied industries due to the availability of lucrative opportunities will also augment product adoption.
The Asia Pacific LiDAR in construction market size is anticipated to expand at approximately 15% CAGR through 2030. Government organizations have been relying on LiDAR technology companies for conducting bathymetric surveys in the APAC region, impelling the product demand. For instance, in February 2020, the Australian government selected Fugro, a Dutch geo-data specialist, to join the HydroScheme Industry Partnership Program (HIPP) and increase the hydrographic industry’s capability in the country.
Another region that may emerge as a key revenue hub is the Middle East & Africa. The LiDAR in construction industry in MEA is likely to grow at more than 15% growth up to 2030. The positive interest showcased by governments towards the development of smart city infrastructure for sustainable and efficient connectivity between cities and states will be a major factor fueling the regional demand.
COVID-19 Impact
The COVID-19 pandemic had a slightly positive influence on the construction industry and substantially bolstered the use of LiDAR technology in the sector. Restrictions on movement and stringent lockdowns pushed construction professionals to adopt digital technologies to smoothen the flow of operations amid the spread of coronavirus. It imposed a sense of de facto mandate on the professionals to opt for LiDAR and other technologies.
LiDAR in Construction Market Share
Major key players operating in the LiDAR in construction market include
These companies are continuously working to deliver advanced LiDAR solutions and widening their product capabilities through acquisitions to strengthen their position.
This market research report on LiDAR in Construction sector includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2030, for the following segments:
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Market, By Product
Market, By Type
Market, By Application
Market, By End-user
The above information has been provided for the following regions and countries: