LiDAR Sensor Market - By Product (Airborne, Terrestrial, Satellite), By Application (Consumer Electronics, Aerospace & Defense, Automotive, Healthcare, Exploration and Detection, Forestry and Agriculture), By Range, By Technology & Forecast, 2023-2032

LiDAR Sensor Market Size

LiDAR Sensor Market size was worth more than USD 1.5 billion in 2022 and is projected to exhibit over 20% CAGR from 2023-2032.  The increasing prevalence of surveillance and excavation efforts around the globe is expected to drive the need for LiDAR sensors.
 

To get key market trends

  Download Free Sample

LiDAR technology offers multiple benefits over conventional techniques, such as aerial mapping solutions to offer high-quality accurate data input. The rapid penetration of high-resolution LiDAR topography across conservation management, flood mitigation, national security, education, infrastructure development, and scientific research is also likely to offer lucrative business prospects. Furthermore, LiDAR has emerged as a promising tool in the field of archeology enabling extensive research and surveys. The expanding applications of the technology and the widespread demand for LiDAR sensors will complement industry growth.
 

Lack of standardization to impede the adoption of LiDAR sensors

The field of LiDAR has faced several standardization challenges due to the emergence of various new technologies. With the increasing demand for diverse applications, industry players have introduced unique products that cater to specific use cases. This trend has led to fragmentation and a wide range of LiDAR solutions, many of which are incompatible with each other and third-party solutions. Nevertheless, the growing use of LiDAR data in infrastructure and network management to prevent asset and life loss during excavation activities is expected to have a positive impact on the industry dynamics.
 

LiDAR Sensor Market Analysis

LiDAR sensor market valuation from terrestrial product segment is estimated to reach over USD 5 billion by 2032. The demand for terrestrial LiDAR has significantly increased due to the growing usage of 3D imaging technology in product design, medical imaging, and architectural rendering. The adoption of 3D terrestrial LiDAR has surged because of its various advantages, such as providing comprehensive 3D data, ensuring minimal contact with hazardous areas, delivering high accuracy, promoting safety, and early detection of equipment malfunction. Moreover, the implementation of new regulations will encourage the appropriate usage of terrestrial LiDAR.
 

LiDAR sensor market valuation from mechanical LiDAR technology surpassed USD 1 billion in 2022. The rising trend of automation in various industry verticals is driving the demand for mechanical LiDAR. Its application is widespread in robotics, mapping, and surveying as it offers highly precise and high-resolution data. Mechanical LiDAR is currently undergoing testing across multiple stages of automation levels, including 3, 4, and 5. Additionally, the automotive sector's fast-paced electrification and the increasing advancements in autonomous vehicles have accelerated the deployment of mechanical LiDAR on vehicles for long-range scanning purposes.
 

In terms of revenue, LiDAR sensor market share from healthcare applications is anticipated to exceed USD 2 billion by 2032. LiDAR has gained significant momentum in the healthcare sector owing to the ongoing digitization and the emergence of trends such as telemedicine, and remote health monitoring. Moreover, high penalties imposed on healthcare facilities owing to poor patient outcomes driven by skyrocketing costs and burnout have emphasized the role of AI and LiDAR in preventing the penalties.
 

The short-range LiDAR segment recorded more than 35% share of the LiDAR sensor market in 2022. Short-range LiDAR modules are witnessing a robust demand owing to advantages such as enhanced active safety and mapping & navigation of drones, industrial machines, and robots. The rapid penetration of smartphones and next-generation technologies, such as augmented reality is expected to spur the need for compact LiDAR solutions. Short-range radar also has a spectrum of use cases in the automotive sector for blind-sport monitoring, park assist, rear-end collision warning, and lane-change assist.
 

Learn more about the key segments shaping this market

 Download Free Sample

Asia pacific LiDAR sensor market size is poised to expand at over 20% CAGR between 2023-2032. The Asia Pacific region has established itself as a center for innovation and automation, presenting profitable opportunities for the LiDAR industry. In recent years, countries like China and India have experienced a swift surge in technology start-ups capitalizing on the ongoing technology transformation and the rising GenZ population.
 

LiDAR Sensor Market Share

Some of the leading companies in the global LiDAR sensor market include

• Quanergy Systems Inc
• Hexagon AG
• Teledyne Technologies
• Mitsubishi Electric Corporation
• Infineon Technologies

These firms are focusing on strategic alliances to boost product development and distribution.
 

Impact of the COVID-19 pandemic

The COVID-19 crisis has had a favorable impact on the LiDAR sensor industry outlook. As the number of infected patients and hospitalization rates surged, there was a significant upswing in the adoption of advanced monitoring sensors. The pandemic accelerated the demand for smart sensing solutions to enhance crowd management, venue monitoring, and social distancing. The swift integration of dependable sensing technology, big data, and artificial intelligence has positively impacted the global LiDAR market. Furthermore, the growing number of smart city projects in both developed and developing economies is expected to drive the adoption of LiDAR sensors for improved infrastructure management.
 

The LiDAR sensor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

Click here to Buy Section of this Report

By Product

• Airborne
• Terrestrial
• Satellite

By Technology

• Solid State LiDAR
• Mechanical LiDAR

By Range

• Short Range
• Medium Range
• Long Range

By Application

• Consumer Electronics
• Aerospace & Defense
• Automotive
• Healthcare
• Exploration & Detection
• Forestry & Agriculture
• Others

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

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