Light Detection and Ranging Market Forecasts to 2030 - Global Analysis By Type, Component, Range, Installation, Service, Technology, Application and By Geography

According to Stratistics MRC, the Global Light Detection and Ranging (LiDAR) Market is accounted for $2.29 billion in 2023 and is expected to reach $8.73 billion by 2030 growing at a CAGR of 21.0% during the forecast period. Light Detection and Ranging, commonly known as LiDAR, is a remote sensing technology that uses laser light to measure distances and generate precise, three-dimensional information about the shape and characteristics of the Earth's surface. The advantages include high precision, quick data collecting, and versatility.

According to the National Oceanic and Atmospheric Administration, (NOAA), system is used for coastal geospatial service and coastal remote sensing.

Market Dynamics:

Driver:

Smart cities and infrastructure development

LiDAR technology plays a pivotal role in advancing smart cities and infrastructure development by providing precise 3D mapping and modelling capabilities. In urban planning, LiDAR aids in creating detailed representations of cityscapes, optimizing infrastructure projects, and enhancing disaster management. Moreover, its application ensures accurate data for road design, construction, and maintenance, contributing to efficient transportation systems. LiDAR's role in monitoring and managing urban environments aligns with the goals of smart city initiatives, promoting sustainable practices.

Restraint:

Cost of implementation

Procuring and deploying LiDAR systems involves significant upfront expenditures, encompassing the purchase of sophisticated equipment, installation expenses, and ongoing maintenance costs. This financial burden hampers the adoption of LiDAR technology, particularly for smaller enterprises and projects operating within limited budgets. The high initial investment can impede the widespread integration of LiDAR across various industries and applications, limiting its accessibility and hindering the realisation of its benefits.

Opportunity:

Precision Agriculture

LiDAR's high-resolution 3D mapping capabilities enable precise terrain and crop data collection, offering farmers valuable insights for optimised decision-making. LiDAR aids in assessing crop health, monitoring vegetation density, and creating detailed topographic maps, contributing to efficient resource utilisation and sustainable farming practices. Moreover, the technology facilitates accurate crop monitoring, irrigation planning, and yield prediction, enhancing overall agricultural productivity. As the agriculture industry increasingly adopts digital solutions, LiDAR's role in providing detailed and actionable data positions it as a key tool in advancing precision agriculture.

Threat:

Complexities related to miniaturized LiDAR sensing

While miniaturisation is crucial for integration into various devices and applications, it also introduces challenges such as maintaining high precision and accuracy in a reduced form factor. Miniaturised LiDAR sensors may face limitations in range, resolution, and overall performance, impacting their effectiveness in critical applications like autonomous vehicles and drones. As a result, it acts as a significant barrier to market demand.

Covid-19 Impact

Lockdowns and restrictions slowed down manufacturing and deployment processes, affecting the production and adoption of LiDAR technology. However, the pandemic also accelerated digital transformation trends, increasing the demand for LiDAR in applications like remote sensing and autonomous technologies. The market is expected to rebound as economies recover, driven by the growing importance of spatial intelligence in various sectors, including smart cities, agriculture, and infrastructure development, emphasizing LiDAR's role in shaping post-pandemic technological landscapes.

The navigation and positioning systems segment is expected to be the largest during the forecast period

The navigation and positioning systems segment is estimated to hold the largest share. LiDAR is employed to enhance navigation accuracy and provide precise positioning information for various platforms, including autonomous vehicles, drones, and robotics. By emitting laser beams and measuring their reflections, LiDAR enables real-time mapping of the environment, aiding navigation systems in obstacle detection, localization, and path planning. Furthermore, it is pivotal for sectors that need precise spatial awareness, like industrial automation and driverless cars, where LiDAR's capabilities enhance dependability, efficiency, and safety in challenging conditions.

The 3D LiDAR segment is expected to have the highest CAGR during the forecast period

The 3D LiDAR segment is anticipated to have lucrative growth during the forecast period. By emitting laser beams in multiple directions and measuring their return times, 3D LiDAR generates detailed point clouds, enabling the creation of comprehensive 3D maps. Widely used in applications like autonomous vehicles, urban planning, and environmental monitoring, 3D LiDAR enhances spatial awareness by providing detailed representations of objects and landscapes. Moreover, its ability to perceive depth and geometry makes it instrumental in diverse industries, contributing to advancements in navigation, surveying, and augmented reality applications.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period owing to rapid infrastructure development, smart city initiatives, and a burgeoning interest in precision agriculture. Countries like China, Japan, and India are witnessing increased adoption of LiDAR in applications such as autonomous vehicles, urban planning, and environmental monitoring. Furthermore, as industries across Asia-Pacific recognise the importance of spatial intelligence, the LiDAR market in the region continues to evolve, presenting opportunities for technological advancements and market penetration.

Region with highest CAGR:

North America is expected to witness profitable growth over the projection period. The prevalence of advanced technology industries, smart city initiatives, and robust research and development activities contribute to the region's prominence. LiDAR's role in infrastructure development, precision agriculture, and defence applications further propels its demand. Additionally, with a well-established market ecosystem, a strong investment landscape, and increasing awareness of spatial intelligence, North America continues to be a key driver of innovation and growth in the LiDAR market.

Key players in the market

Some of the key players in the Light Detection and Ranging (LiDAR) Market include Trimble Inc., FARO, Teledyne Optech, Leica Geosystems AG, SICK AG, Velodyne Lidar, Inc., SureStar, GeoKno, YELLOWSCAN, LeddarTech Inc., Phoenix LiDAR Systems, NV5 Global, Inc., Quanergy Systems, Inc., Vaisala, ZX Lidars, Innoviz Technologies Ltd., Waymo LLC, Ouster, Inc., Valeo and Hexagon AB.

Key Developments:

In October 2023, FARO announced the release of the FARO Orbis Mobile Scanner, a groundbreaking advancement to redefine 3D reality capture. Orbis is the first to market a hybrid SLAM scanner that can be used for mobile and stationary data capture in one device. It offers local or cloud-based data processing and collaboration. The product is the latest evolution in FARO's industry-leading Simultaneous Localization and Mapping (SLAM)-enabled LiDAR technology.

In April 2023, Teledyne Optech introduced the marine lidar sensor, CL-360 for marine applications. This lidar sensor can be seamlessly integrated with high-resolution multibeam systems and the CARIS Ping-To-Chart workflow, allowing full above and below-water image capture with survey-grade accuracy in a single workflow.

Types Covered:

• Solid-State
• Mechanical

Components Covered:

• Navigation and Positioning Systems
• Laser Scanners
• Digital Cameras
• Precision Clocks
• Other Components

Ranges Covered:

• Short (< 200 m)
• Medium (200-500 m)
• Long (> 500 m)

Installations Covered:

• Ground-Based
• Airborne

Services Covered:

• Asset Management
• Aerial Surveying
• Ground-based Surveying
• Geographic Information Systems
• Environmental Consultancy
• Reverse Engineering
• System Integration
• Non-Destructive Testing Services
• Other Services

Technologies Covered:

• 2D LiDAR
• 3D LiDAR
• 3D LiDAR

Applications Covered:

• Corridor Mapping
• Engineering
• ADAS & Driverless Cars
• Urban Planning
• Meteorology
• Cartography
• Exploration
• Environment
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances