LiDAR Market Size, Share & Trends Analysis Report By Product Type (Airborne, Terrestrial, Mobile & UAV), By Component, By Application, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global LiDAR market size was valued at USD 1.81 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030. The technological advancements in spatial resolution of LiDAR-based digital terrain models are providing better accuracy in applications such as change detection on hillsides, water runoff for agriculture or mining sites, and inland waterways. The growth of the market is attributed to the rising automation in LiDAR to reduce human efforts and increase efficiency.

The rising demand for 3D imagery in application areas such as military & defense, topographical surveys, civil engineering, and corridor mapping is expected to drive the market growth over the forecast period. Textured 3D imagery is applied in applications such as 3D mapping, city planning, and corridor mapping. The installation of advanced safety features is increasing exponentially. Moreover, in countries such as the U.S., self-driving cars are approved by the government on the road; these vehicles are integrated with LiDAR for GPS and navigation applications.

LiDAR is also used in monitoring weather conditions and environmental monitoring. For instance, the Canadian environment monitoring stations utilize LiDAR technology to monitor tropospheric pollution. LiDAR stations are crucial in monitoring the ash from volcanic eruptions that can interfere with air travel. The technology also finds its application in mapping the oil sand monitoring system. These multiple applications of LiDAR technology owing to its enhanced accuracy are expected to propel the growth of the market over the forecast period.

The lack of educated customers is considered a major restraint for the growth of the market. Ascertaining the scope of customer education is essential to reduce the costs of implementing and designing such customer awareness and education programs. Customer education and awareness are crucial for improving the capacity of the people to address development and environmental issues and for stimulating sustainable development.

Product Type Insights

The airborne segment dominated the market and accounted for a revenue share of 37.7% in 2021. The growth of the segment is expected to continue for the next few years owing to the increasing adoption of aerial mapping devices. The aerial LiDAR system is an accurate and thorough method of creating digital elevation models, thereby replacing photogrammetry. This system offers more extensive area coverage than its terrestrial counterparts and delivers large area mapping in shorter time intervals.

Terrestrial LiDAR can be both mobile and stationary and operated only on the surface of the Earth. Static terrestrial scanning is a frequently preferred survey method for monitoring, conventional topography, forensics, and cultural heritage documentation. Mobile & UAV LiDAR operates in both mobile and aerial modes and works on Earth's surface and surrounding environment. The rising adoption of mobile and UAV LiDAR systems and the increasing number of new product launches are expected to draw massive investment from critical participants, driving the growth of the LiDAR market.

In October 2019, RIEGL Laser Measurement Systems GmbH launched the lightweight airborne LiDAR for UAVs. This miniaturized UAV sensor is mainly used for UAV-based applications, which require the acquisition of small objects. Additionally, in September 2021, YellowScan, a France-based UAV LiDAR solutions designer, announced the launch of YellowScan Explorer. It could be mounted on a light human-crewed aircraft or switched to different types of UAV platforms. It allowed end-users to tackle a wide range of projects.

Component Insights

The laser scanner segment dominated the market with a revenue share of 45.5% in 2021. In 2021, aerial scanning and mapping operations were expected to witness increased demand owing to their higher adoption worldwide. Laser scanners are used to record intensity values to provide a return signal strength that can be helpful to distinguish objects of variable reflectivity. Laser scanner LiDAR produces 2D point cloud data that is used in localization, mapping, and object & environment modeling.

The laser scanner segment is expected to witness notable growth with a CAGR of 11.5% over the forecast period. Laser scanners can record an intensity value to offer a return signal strength that distinguishes objects of variable reflectivity. Laser scanner LiDAR produces 2D point cloud data that is used in localization, mapping, and environment modeling. With the reducing cost of laser technology, 3D scanning technology has gained various applications. In December 2019, Pepperl+Fuchs launched an R2300 multi-layer scanner that offered high measurement density using LiDAR laser technology.

Application Insights

The corridor mapping segment dominated the market with a revenue share of 38.1% in 2021. The ADAS segment is anticipated to register the highest CAGR of 13.9% over the forecast period owing to the surging incorporation of LiDAR-based sensors in various automotive safety applications. In September 2021, Tower Semiconductor, an Israel-based manufacturer of integrated circuits, announced its breakthrough in LiDAR technologies for Advanced Driver Assistance Systems (ADAS) through the development of LiDAR IC technology.

The corridor mapping segment is expected to witness a reduction in market share over the forecast period. Low-speed collision avoidance systems and driver assistance systems are among the most popular technologies. Moreover, the integration of map-enabled systems provides diverse application options, leading to advantages such as lane departure systems, driver assistance systems, and intelligent front lighting systems enabled by the united adaptive front lighting.

In the last few years, assisted driving automobiles have gained traction in the market; these automobiles use cameras and LiDAR to sense the environment around them and avoid accidents. For instance, in July 2019, Velodyne Lidar Inc., a California-based Lidar technology company, announced the acquisition of localization and mapping software from Mapper.ai, Inc. This initiative aimed to boost the company's ADAS system production.

Regional Insights

North America dominated the market in 2021 with a revenue share of 36.6% owing to the increasing adoption of administrative regulations mandating the installation of specific automotive safety technologies in both lightweight and heavyweight vehicles in the region. Asia Pacific is expected to emerge as the fastest-growing region with a CAGR of 14.4% from 2022 to 2030.

North America witnessed growth opportunities in the automotive sector owing to the increasing adoption of technologies such as ADAS and AEB. China and India are expected to remain lucrative markets owing to the rising investment by the domestic and overseas players. The companies are expanding their foothold in Europe and Asia Pacific to enhance customer support. For instance, in August 2019, Ouster LiDAR expanded in Asia Pacific and Europe with new offices in Shanghai, Paris, and Hong Kong. In November 2021, Outer LiDAR collaborated with Kudan Inc. to expand its presence in Japan.

Key Companies & Market Share Insights

Various competitors in the market offer innovative solutions, which help consumers address changing technologies, business practices, and security needs. Europe comprises notable players who offer advanced solutions to meet varied application requirements. The key players in the market face intense competition to dominate the market, enabling market consolidation through strategic initiatives such as mergers & acquisitions. Industry participants have entered into a strategic partnership with suppliers and distributors to strengthen their product portfolio and geographical presence. Some prominent players in the global LiDAR market include:

• Faro Technologies, Inc.

• Leica Geosystem Holdings AG

• Teledyne Optech Incorporated (A part of Teledyne Technologies)

• Trimble Navigation Limited

• RIEGL USA, Inc.

• Quantum Spatial, Inc.

• Velodyne LiDAR, Inc.

• Sick AG

• YellowScan

• GeoDigital

LiDAR Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global LiDAR market report based on product type, application, component, and region:

• Product Type Outlook (Revenue, USD Million, 2017 - 2030)                                                                  

  • Airborne

  • Terrestrial

  • Mobile & UAV

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Corridor Mapping

  • Engineering

  • Environment

  • Exploration

  • Advanced Driver Assistance Systems (ADAS)

  • Others

• Component Outlook (Revenue, USD Million, 2017 - 2030)

  • GPS

  • Navigation (IMU)

  • Laser Scanners

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • South America

    • Brazil

  • Middle East & Africa