LiDAR Market Outlook 2024-2033: Trends and Projections

Market Size –
The lidar market size has grown rapidly in recent years. It will grow from $2.15 billion in 2023 to $2.58 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to automotive safety regulations, increasing demand for lidar in applications such as topographic mapping, agriculture and forestry, growth in military and defense, smart cities and infrastructure.

The lidar market size is expected to see rapid growth in the next few years. It will grow to $5.23 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to the continued development and commercialization of autonomous vehicle, increasing interest in lidar for environmental monitoring, growing integration of lidar in robotics and automation, the emergence of new and innovative lidar applications, increasing use of lidar for 3d scanning and modeling. Major trends in the forecast period include solid-state lidar, multi-sensor integration, geospatial and mapping, environmental lidar, artificial intelligence (ai) and lidar.

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Scope Of LiDAR Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

LiDAR Market Overview

Market Drivers –
The rising demand for 3D imaging is expected to propel the growth of the LiDAR market. 3D imaging is a technique that develops or creates the impression of depth within an image by deploying 2D data into the 3-dimensional format. For instance, in April 2021, according to the data provided by the USGS, United States, the government initiated a 3D Elevation Program (3DEP) and the goal is to complete it by 2023. The aim of the program is to provide the first-ever national baseline of consistent high-resolution three-dimensional data that includes bare earth elevations and three-dimensional point clouds and are collected in a timeframe of less than a decade to complete the acquisition of nationwide LiDAR. Therefore, the rise in demand for 3D imaging drives the LiDAR market.

 

The lidar market covered in this report is segmented –

1) By Component: Laser Scanner, Navigation and Positioning Systems, Other Components
2) By Type: Terrestrial, Aerial, Mobile
3) By Technology: 2D, 3D, 4D
4) By Applications: Mapping and Cartography, ADAS (Advanced Driver-Assistance System), Environment, Exploration and Detection, Other Applications
5) By End User: Defense and Aerospace, Civil Engineering, Archaeology, Forestry and Agriculture, Mining, Transportation

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Regional Insights –
North America was the largest region in the LiDAR market in 2023. Asia-Pacific is expected to be the fastest-growing region in the LiDAR market share during the forecast period. The regions covered in the lidar market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Key Companies –
Major companies operating in the lidar market include Velodyne GmbH, Leica Geosystems AG, LEOSPHERE SAS, HEXAGON AB, GeoSLAM Ltd., Firmatek LLC, RIEGL Laser Measurement Systems GmbH, Mira Solutions Inc., Aerometric Surveys SA, Airborne Hydrography AB, Faro Technologies Inc., Phoenix LiDAR Systems, Innoviz Technologies Ltd., Waymo LLC, Valeo SA, Neptec Technologies Corp., ZX LIDARS, SICK AG, Quanergy Systems Inc., Teledyne Optech Inc., Trimble Inc., NV5 Global Inc., Huawei Technologies Co. Ltd., Ouster Inc., Luminar Inc., Aeva Technologies Inc., Beijing SureStar Technology Co. Ltd., Quantum Spatial India Private Limited, Topcon Positioning Systems, Cepton Technologies Inc., Optris GmbH, YellowScan Inc., Livox Tech Ltd.

Table of Contents
1. Executive Summary
2. LiDAR Market Report Structure
3. LiDAR Market Trends And Strategies
4. LiDAR Market – Macro Economic Scenario
5. LiDAR Market Size And Growth
…..
27. LiDAR Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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