Lidar Market Size, Share, Trends & Growth Opportunity [2031]

Segments - Lidar Market by Products (Ground-based Lidar and Aerial Lidar), Components (Laser Scanner, Global Positioning System, Inertial Measurement Unit, and Other Components), Applications (Exploration, Corridor Mapping, Advanced Driver Assistance Systems, and Other Applications), End-users (Automotive, Aerospace and Defense, Engineering, Transportation, and Industrial) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Akash Vedpathak

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The global lidar market size was valued at USD 1.1 billion in 2020 and is projected to reach USD 2.90 billion by 2028, expanding at a CAGR of 20.1% during the forecast period, 2021–2028. The growth of the market is attributed to growing adoption of lidar system in engineering and construction application, geographical information system, its easy regulation, and in various industries for different purpose.

Light detection and ranging (LIDAR) is a remote sensing method which uses light in form of laser to measure variable distances or ranges to the Earth. It is used to make high-resolution maps which are applied in archeology, geology, forestry, laser guidance, surveying, geodesy, geography, seismology, atmospheric physics, geomatics, and laser altimetry. It enables the detection, examination, and mapping of the objects easier.

The demand for 3D imagery is increasing which are used in corridor mapping, 3D mapping, and city planning. Various manufacturers’ as-well-as end-users have been impacted due to covid-19. Lidar market of exploration which include oil & gas and mining is mainly impacted due to lockdown imposed across the globe and impacted the economies of the countries.

Market Trends, Drivers, Restraints, and Opportunities

Increasing demand from various industries and end-users is estimated to drive the market in the coming years.
Rapid growth of the automotive industry is major factor spurring the market during the forecast period.
High cost of lidar systems due to expensive components used is anticipated to hamper the market growth.
Lack of skilled awareness and knowledge about the technology act as key challenge that can restrict the market growth.
R&D investment and technological advancement and innovation in the system is expected to offer immense opportunities for the market players.

Scope of the Report

The report on the global lidar market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Lidar Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Products (Ground-based Lidar and Aerial Lidar), Components (Laser Scanner, Global Positioning System, Inertial Measurement Unit, and Other Components), Applications (Exploration, Corridor Mapping, Advanced Driver Assistance Systems, and Other Applications), End-users (Automotive, Aerospace and Defense, Engineering, Transportation, and Industrial)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Mira Solutions, Inc., Faro Technologies Inc., Aerometric Surveys, Firmatek, LLC, Veldoyne, Leosphere SAS, Lecia Geosystems AG, and GeoSLAM Ltd. (3D Laser Mapping)

Market Segment Insights:

The ground-based lidar segment is projected to account for a large market share
Based on products, the global lidar market is bifurcated into ground-based lidar and aerial lidar. The ground-based lidar segment is expected to represent a key share of the market during the forecast period owing to low cost and they are mostly placed on moving platforms including vehicles is rising the demand from automotive sector. Scanning of outcrop consisting of near vertical cliffs and hillsides, ground-based lidar is used.

The laser scanner segment is projected to hold a key market share
On the basis of components, the global lidar market is segmented into laser scanner, global positioning system, inertial measurement unit, and other components. The laser scanner segment is expected to constitute a key share of the market in the coming years due to reducing cost of laser technology and high usage of laser scanning in mapping and object, localization, and environment modeling.

The advanced driver assistance systems segment is projected to constitute a major market share
In terms of applications, the global lidar market is segregated into exploration, corridor mapping, advanced driver assistance systems, and other applications. The advanced driver assistance systems segment is expected to register a CAGR of 18.4% in the market during the forecast period owing to surging incorporation of sensors in various automotive safety applications. It uses radar and camera to sense the environment and avoid the chances of accidents. However, the corridor mapping segment is anticipated to expand at a moderate pace during the forecast period.

The aerospace & defense segment is estimated to expand at a rapid pace
Based on end-users, the global lidar market is bifurcated into automotive, aerospace and defense, engineering, transportation, and industrial. The aerospace and defense industry lidar is used to track low flying aircraft, dimensions and distance of target, and weather condition. Lidar is used for surveying fields with drones and automatic tractor steering solutions in the agriculture industry.

North America is anticipated to dominate the market
On the basis of regions, the global lidar market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to mandating the installation of automotive safety technologies and adopting administrative regulations. High usage of lidar in various applications including corridor mapping, urban planning, environment, meteorology, and advanced driver assistance systems and driverless cars is expected to fuel the market.

However, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years owing to increasing investment by the market players.

Segments

Segments Covered in the Report
The global lidar market has been segmented on the basis of

Product

Ground-based Lidar
Aerial Lidar

Component

Laser Scanner
Global Positioning System
Inertial Measurement Unit
Other Components

Application

Exploration
Corridor Mapping
Advanced Driver Assistance Systems
Other Applications

End-user

Automotive
Aerospace and Defense
Engineering
Transportation
Industrial

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Mira Solutions, Inc.
Faro Technologies Inc.
Aerometric Surveys
Firmatek, LLC
Veldoyne
Leosphere SAS
Lecia Geosystems AG
GeoSLAM Ltd. (3D Laser Mapping)

Competitive Landscape

Key players competing in the global lidar market include Mira Solutions, Inc., Faro Technologies Inc., Aerometric Surveys, Firmatek, LLC, Veldoyne, Leosphere SAS, Lecia Geosystems AG, and GeoSLAM Ltd. (3D Laser Mapping). Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares and strengthen their position. For instance,

In July 2019, Quanergy did distribution partnership with Ingram Micro Brazil; it marks Quanergy entrance in the South America market.
In January 2020, DENSO Corporation and Qualcomm Technologies, Inc. announced working together for developing next-generation cockpit systems.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Lidar Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Lidar Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Lidar Market - Supply Chain
  4.5. Global Lidar Market Forecast
     4.5.1. Lidar Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Lidar Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Lidar Market Absolute $ Opportunity
5. Global Lidar Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Lidar Market Size and Volume Forecast by Applications
     5.3.1. Exploration
     5.3.2. Corridor Mapping
     5.3.3. Advanced Driver Assistance Systems
     5.3.4. Other Applications
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Lidar Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Lidar Market Size and Volume Forecast by End Users
     6.3.1. Automotive
     6.3.2. Aerospace and Defense
     6.3.3. Engineering
     6.3.4. Transportation
     6.3.5. Industrial
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Lidar Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Lidar Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Lidar Demand Share Forecast, 2019-2026
8. North America Lidar Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Lidar Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Lidar Market Size and Volume Forecast by Applications
     8.4.1. Exploration
     8.4.2. Corridor Mapping
     8.4.3. Advanced Driver Assistance Systems
     8.4.4. Other Applications
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Lidar Market Size and Volume Forecast by End Users
     8.7.1. Automotive
     8.7.2. Aerospace and Defense
     8.7.3. Engineering
     8.7.4. Transportation
     8.7.5. Industrial
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Lidar Demand Share Forecast, 2019-2026
9. Latin America Lidar Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Lidar Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Lidar Market Size and Volume Forecast by Applications
     9.4.1. Exploration
     9.4.2. Corridor Mapping
     9.4.3. Advanced Driver Assistance Systems
     9.4.4. Other Applications
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Lidar Market Size and Volume Forecast by End Users
     9.7.1. Automotive
     9.7.2. Aerospace and Defense
     9.7.3. Engineering
     9.7.4. Transportation
     9.7.5. Industrial
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Lidar Demand Share Forecast, 2019-2026
10. Europe Lidar Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Lidar Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Lidar Market Size and Volume Forecast by Applications
     10.4.1. Exploration
     10.4.2. Corridor Mapping
     10.4.3. Advanced Driver Assistance Systems
     10.4.4. Other Applications
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Lidar Market Size and Volume Forecast by End Users
     10.7.1. Automotive
     10.7.2. Aerospace and Defense
     10.7.3. Engineering
     10.7.4. Transportation
     10.7.5. Industrial
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Lidar Demand Share Forecast, 2019-2026
11. Asia Pacific Lidar Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Lidar Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Lidar Market Size and Volume Forecast by Applications
     11.4.1. Exploration
     11.4.2. Corridor Mapping
     11.4.3. Advanced Driver Assistance Systems
     11.4.4. Other Applications
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Lidar Market Size and Volume Forecast by End Users
     11.7.1. Automotive
     11.7.2. Aerospace and Defense
     11.7.3. Engineering
     11.7.4. Transportation
     11.7.5. Industrial
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Lidar Demand Share Forecast, 2019-2026
12. Middle East & Africa Lidar Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Lidar Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Lidar Market Size and Volume Forecast by Applications
     12.4.1. Exploration
     12.4.2. Corridor Mapping
     12.4.3. Advanced Driver Assistance Systems
     12.4.4. Other Applications
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Lidar Market Size and Volume Forecast by End Users
     12.7.1. Automotive
     12.7.2. Aerospace and Defense
     12.7.3. Engineering
     12.7.4. Transportation
     12.7.5. Industrial
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Lidar Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Lidar Market: Market Share Analysis
  13.2. Lidar Distributors and Customers
  13.3. Lidar Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Mira Solutions, Inc.
     13.4.2. Faro Technologies Inc.
     13.4.3. Aerometric Surveys
     13.4.4. Firmatek, LLC
     13.4.5. Veldoyne
     13.4.6. Leosphere SAS
     13.4.7. Lecia Geosystems AG
     13.4.8. GeoSLAM Ltd. (3D Laser Mapping)