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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

  • Report ID: GMI5433
  • Published Date: Feb 2023
  • Report Format: PDF

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.
 

LiDAR Sensor Market

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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.
 

Global Lidar Sensors Market Volume Share By Technology

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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.
 

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

Market size for LiDAR sensor was worth more than USD 1.5 billion in 2022 and is projected to exhibit over 20% CAGR from 2023-2032.
LiDAR sensor market valuation from terrestrial LiDAR is estimated to reach over USD 5 billion by 2032 owing to the increasing use of 3D imaging technology across forensic applications.
Asia pacific LiDAR sensor industry size is poised to expand at over 20% CAGR between 2023-2032 driven by the surging number of drone startups.
Quanergy Systems Inc, Hexagon AG, Teledyne Technologies, Mitsubishi Electric Corporation, and Infineon Technologies are some of the leading manufacturers of LiDAR sensors.

LiDAR Sensor Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 14
  • Tables & Figures: 509
  • Countries covered: 33
  • Pages: 450
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