The Europe LiDAR market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 23.6% during 2023–2031. The growth of the market is attributed to the growing use of lidar in engineering projects, as well as large-magnitude sets that can propel the lidar market forward.
Europe is a rapidly expanding market for LiDAR. LiDAR (light detection and ranging) is a remote sensing technique that measures ranges (varying distances) to the ground using light in the form of a pulsed laser. When these light pulses are integrated with other data from the aerial system, exact three-dimensional information about the earth's shape and surface properties is generated.
Due to LiDAR, the market is expected to develop significantly over the projected period, resulting in less human effort and increased efficiency. The rise in self-driving car research and development in the automotive industry anticipates a rise in LiDAR use in Europe.
Europe Lidar Market Trends, Drivers, Restraints, and Opportunities
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Increasing consumer tendency for electric vehicles and the rising adoption of autonomous technology in the LiDAR market are expected to boost the market growth during the forecast period in Europe.
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Rising need for LiDAR sensors, several automakers have begun developing new electric vehicles, and exhibiting them at auto shows is anticipated to propel the market expansion in the coming years.
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Reduced pricing of LiDAR devices has supported expanding the applicability of these devices across a variety of industry verticals, which has become one of the market's key driving factors.
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Drones are increasingly being used for a variety of purposes, including aerospace and defense, as well as automation, which is encouraging companies to invest in drone research.
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The market is expected to be driven by increased demand for 3D images in various application areas such as military and defense, civil engineering, topographical surveys, and corridor mapping during the forecast period.
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A key driving factor for the LiDAR market is the growing usage of drones for several applications, such as defense, aerospace, and automation, which are leading organizations to capitalize on drone research.?
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Customers' lack of awareness and knowledge regarding LiDAR is acknowledged as a Europe LiDAR market constraint.
Scope of the Europe Lidar Market Report
The report on the Europe lidar market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Lidar Market - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Products (Ground-based LiDAR and Aerial LiDAR), Components (GPS, Inertial Measurement Units, and Laser Scanners), and End-user Industries (Engineering, Automotive, Aerospace, Industrial, and Defence)
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Geographic Scope
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United Kingdom, the Rest of Europe?, Netherlands, Germany, France?, Belgium?, and Spain
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Leica Geosystems Ag; Riegl Laser Measurement Systems GmbH; Topcon Corporation; Velodyne Lidar Inc.; Phantom Intelligence Inc.; Quanergy Systems Inc.; Neptec Technologies Corp.; Geoslam; Innoviz Technologies Ltd; Sick Ag; TELEDYNE Optech; Trimble Inc.; Faro Technologies Inc.; and Denso Corporation
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Europe Lidar Market Segment Insights
Aerial LiDAR segment is projected to hold a large market share
Based on products, the Europe LiDAR market is divided into ground-based LiDAR and aerial LiDAR. The aerial LiDAR segment is expected to constitute a key share of the market during the forecast period owing to aerial LiDAR replaces photogrammetry as an accurate and thorough way of constructing digital elevation models.
In comparison to its ground-based LiDAR counterparts, this technology provides improved accuracy and a greater coverage area. It allows for more detailed area mapping in a shorter amount of time.
Laser Scanners segment is expected to register at a significant pace
on the basis of components, the Europe LiDAR market is segmented into GPS, inertial measurement units, and laser scanners.
The laser scanners segment is expected to represent a key share of the market in the coming years due to LiDAR data from a laser scanner produces a 2D point cloud that can be used for localization, mapping, and modeling of objects and environments. Reduced laser technology prices are projected to enable 3D scanning to discover new applications, resulting in significant growth potential in the coming years.
Engineering segment is anticipated to expand at a rapid CAGR
In terms of end-user industries, the market is segregated into engineering, automotive, aerospace, industrial, and defense.
The engineering segment is expected to hold a key share of the market in the coming years owing to LiDAR technology is critical in surveying and civil engineering for aerial and ground-based scanning, providing valuable insights into existing architecture or details about the stability of inclinations and other factors, which can play a critical role in the development of construction and other operations plans.
Europe is anticipated to dominate the market
On the basis of geographies, the Europe LiDAR market is classified as United Kingdom, the rest of Europe, Netherlands, Germany, France, Belgium, and Spain.
Europe is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to the well-developed industrial economy, particularly in automotive, and is rapidly developing into the software. European governments are regarded as among the best in the world when it comes to holistic development, and they are aggressively investing in aerial LiDAR development technology.
Segments
The Europe lidar market has been segmented on the basis of
Products
- Ground-based LiDAR
- Aerial LiDAR
Components
- GPS
- Inertial Measurement Units
- Laser Scanners
End-user Industries
- Engineering
- Automotive
- Aerospace
- Industrial
- Defense
Geographies
- United Kingdom
- Rest of Europe
- Netherlands
- Germany
- France
- Belgium
- Spain
Key Players
- Leica Geosystems Ag
- Riegl Laser Measurement Systems GmbH
- Topcon Corporation
- Velodyne Lidar Inc.
- Phantom Intelligence Inc.
- Quanergy Systems Inc.
- Neptec Technologies Corp.
- Geoslam
- Innoviz Technologies Ltd
- Sick Ag
- TELEDYNE Optech
- Trimble Inc.
- Faro Technologies Inc.
- Denso Corporation
Competitive Landscape
Some of these players are Leica Geosystems Ag; Riegl Laser Measurement Systems GmbH; Topcon Corporation; Velodyne Lidar Inc.; Phantom Intelligence Inc.; Quanergy Systems Inc.; Neptec Technologies Corp.; Geoslam; Innoviz Technologies Ltd; Sick Ag; TELEDYNE Optech; Trimble Inc.; Faro Technologies Inc.; and Denso Corporation. Several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launch increase their market shares.
For instance, in June 2020 to expand its products in Europe, Quanergy Systems, a provider of LiDAR sensors and smart perception, established a partnership with Milexia, a distributor of RF and microwave components for the electronics sector.
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