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 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022–2030

Industry Trends

Global LiDAR Market size valued at USD 2 billion in 2021 and is estimated to grow at over 25% CAGR through 2030.
 

LiDAR system enables mapping professionals and scientists to study man-made and natural environments with high precision and flexibility. Scientists at the National Oceanic and Atmospheric Administration (NOAA), for instance, are using LiDAR to generate accurate shoreline maps, assist under emergency response missions, and create digital elevation models that can be used in geographic information systems.
 

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Growing concerns regarding climate change to augment demand for bathymetric LiDAR solutions

The bathymetric product segment is anticipated to exhibit a growth rate of around 20% through 2030. Growing concerns surrounding climate change, and rising sea levels have increased the importance of gaining more insights into coastlines through airborne mapping solutions.
 

In August 2022, Hexagon collaborated with conservation NGO Beneath The Waves to help safeguard the marine ecosystem in the Bahamas. R-evolution, the company’s sustainability business venture, involves the use of an advanced airborne bathymetric technology from Leica Geosystems to determine the composition, condition volume, and extent of the region’s endangered seagrass ecosystem.
 

Surging advancements in solid-state LiDAR

The solid-state LiDAR market is expected to register gains of at approximately 50% through 2030. Solid-state LiDARs are affordable and offer high performance compared to conventional LiDAR solutions, which has attributed to market expansion. Scientists have made significant advancements in solid-state LiDAR technology to enhance its capabilities.
 

Rising focus on town planning will enhance LiDAR demand in engineering applications

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The LiDAR demand from the engineering application is poised to depict a CAGR of more than 20% through 2030. This growth is attributed mainly to the rise of industrialization and urbanization, which has amplified the need for proper town planning. LiDAR is used extensively in the civil engineering sector to collect accurate biological and physical information of any physical environment. LiDAR can develop comprehensive virtual maps to offer precise surveying, further fueling segmental progress.
 

Increasing demand for self-driving cars in North America

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The North America LiDAR market share surpassed USD 900 million in 2021 impelled by rising demand for self-driving cars in the region. LiDAR technology offers long-range operability and a higher resolution which has enabled automotive manufacturers to integrate this system into their vehicles. For instance, in July 2022, Mercedes-Benz announced the introduction of Driver Pilot, the carmaker’s Level 3 autonomous driving technology, in US-bound cars. This system uses LiDAR, cameras, and a 4-GPS antenna setup to extract data from the satellites.
 

Impact of COVID-19 on the LiDAR business outlook

With the emergence of the COVID-19 pandemic, many industrial verticals had to cease operations due to stringent lockdown measures. However, the LiDAR industry continued to witness progress, as several manufacturers repurposed their 3D LiDAR systems for product tracking, security, and monitoring employee behavior and distance remotely. Furthermore, LiDARs, along with video and thermal monitoring systems, were used to remotely sense the temperatures of employees and avoid manual temperature scanning to improve productivity, whilst curbing the risk of viral transmission.
 

Strategic product launches from prominent players to expand the business landscape

The top contenders involved in the LiDAR market include Beijing SureStar Technology Co. Ltd., Innoviz Technologies Ltd, LeddarTech Inc., NV5 Inc. (Quantum Spatial), FARO Technologies, Inc., Geokno, Teledyne Technologies (Teledyne Optech), Topcon Positioning Systems, Inc., Hexagon AB (Leica Geosystem), Outster Inc., Quanergy Systems, Inc., RIEGL Laser Measurement Systems GmbH, RoboSense LiDAR, Sick AG, Trimble Inc., Vaisala (Leosphere), Valeo, Velodyne Lidar, and Yellowscan. Some companies are devising strategic product launches to extend their portfolio and reinforce their market position.
 

The market research report on LiDAR includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2030, for the following segments:

Market Forecast, By Product

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

Market Forecast, By Type

• Mechanical
• Solid State

Market Forecast, 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