LiDAR Market Size By Product (Airborne [Topographic, Bathymetric], UAV, Terrestrial [Mobile, Static]), By Type (Mechanical, Solid-state), By Application (Corridor Mapping [Roadways, Railways, Bridges & Tunnels], Engineering, Environment, Driverless Cars, Exploration & Meteorology, Cartography), COVID-19 Industry Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027

Industry Trends

LiDAR Market size exceeded USD 1.5 billion in 2020 and is estimated to grow at a CAGR of over 20% between 2021 and 2027. Growing demand for 3D imaging solutions is likely to drive the industry growth. Technological advancements in 3D-imaging technologies have enabled the development of cost-effective integrated solutions with performance, size, and weight advantages.
 

Get more details on this report - Request Free Sample PDF
 

During the COVID-19 pandemic, the production facilities for LiDAR sensors were closed due to quarantine restrictions. The disruption of the supply chain across the globe reduced the installations of these sensors. With the decline in COVID-19 cases, the demand for these sensors is projected to increase across various applications.
 

In Canada, the growing demand for topographic sensors for capturing geospatial data is supporting the market growth

Get more details on this report - Request Free Sample PDF
 

In Canada, the airborne type held above 15% of the LiDAR market revenue share in 2020 on account of growing demand for topographic sensors to penetrate vegetation and capture accurate ground data under the forest trees. Airplanes and helicopters are the most used mediums for acquiring LiDAR data over vast areas. The information generated through these devices supports activities including storm surge modelling, inundation, hydrodynamic modelling emergency response, shoreline mapping, and hydrographic surveying & coastal vulnerability modelling.
 

The cost-effectiveness of the solid-state LiDAR is driving the UK market growth

In the UK, solid-state LiDAR market is poised to register a growth rate of around 60% through 2027 led by to its inexpensive nature and high performance compared to traditional LiDAR solutions. The solid-state technology employs several transmitters in certain patterns and phases to create a directional broadcast. This technology allows the size, focus, and direction of the broadcast to be altered without any manual intervention. The lack of human intervention makes it more compact and resilient to vibrations.
 

In China, corridor mapping application is set to boost the LiDAR market

Get more details on this report - Request Free Sample PDF
 

In China, the corridor mapping application captured more than 35% of the LiDAR market share in 2020 propelled by the increasing use of LiDAR data for infrastructure and network management services in various industry verticals. All these industry verticals require scanning for the detection of defects as they hold a major impact on day to day life. The poor inspection can result in the loss of asset and life. This technology provides high-resolution mapping of networks, artificial infrastructures, and natural corridors, providing asset and life safety. 
 

North America is expected to dominate the market

Get more details on this report - Request Free Sample PDF
 

The North America LiDAR marketis predicted to generate about USD 2 billion revenue by 2027 owing to the need for precise data for 3D mapping for different applications such as infrastructure and game development. The rising demand for self-driving vehicles is also spurring market revenue. The accuracy of LiDAR technology is playing a key role in advancements of self-driving vehicles. The automotive companies are acquiring technology companies to enhance their capabilities in the self-driving vehicles segment.
 

Major industry players operating in the market are focusing on development of innovative solutions

The industry participants are emphasizing on the development of innovative mapping solutions to gain a competitive advantage in the market. For instance, in July 2021, Trimble introduced the vehicle-mounted mobile LiDAR system - Trimble MX50 to expand its mobile mapping portfolio. This expansion helped the company to offer accurate mapping solutions for road agencies and government authorities.
 

Major LiDAR market players are Beijing SureStar Technology Co. Ltd., FARO Technologies, Inc., Geokno, Hexagon AB (Leica Geosystem), Innoviz Technologies Ltd, LeddarTech Inc., NV5 Inc. (Quantum Spatial), Outster Inc., Quanergy Systems, Inc., RIEGL Laser Measurement Systems GmbH, RoboSense LiDAR, Sick AG, Teledyne Technologies (Teledyne Optech), Topcon Positioning Systems, Inc., Trimble Inc., Vaisala (Leosphere), Valeo, Velodyne Lidar, and Yellowscan.
 

This market research report on LiDAR includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2021 to 2027 for the following segments:

Market, By Product

• Airborne
  • Topographic
  • Bathymetric
• UAV
• Terrestrial
  • Mobile
  • Static

Market, By Type

• Mechanical
• Solid State

Market, By Application

• Corridor Mapping
  • Roadways
  • Railways
  • Bridges & Tunnels
• Engineering
• Environment
• Driverless Cars
• Exploration & Meteorology
• Cartography
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • Saudi Arabia
  • UAE
  • South Africa