LiDAR Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global LiDAR Market was valued at USD 1.5 billion and is projected to grow at over 18% CAGR from 2024 to 2032, largely fueled by its critical role in autonomous vehicles.

LiDAR technology finds extensive application in geospatial and mapping endeavors, including topographic surveys, forestry, urban planning, and environmental monitoring. Its ability to provide accurate and detailed 3D representations of the Earth's surface is paramount in these fields. The United States Geological Survey (USGS) highlights a rising demand for high-resolution mapping data, spurred by infrastructure development, disaster management, and natural resource oversight. Furthermore, as technological advancements make LiDAR systems more affordable and accessible, their adoption in geospatial applications continues to rise.

The LiDAR industry is rapidly expanding, driven by technological innovations. Breakthroughs like solid-state LiDAR and improvements in sensor resolution and accuracy are enhancing LiDAR system capabilities. For example, Luminar unveiled its next-gen LiDAR, Luminar Halo, in April 2024, boasting a 4x performance boost, 3x size reduction, and over 2x cost reduction. Tailored for mass adoption, this leap in performance and integration promises more accurate data collection, vital for autonomous vehicles, aerial mapping, and environmental monitoring. Additionally, merging LiDAR with AI and machine learning is refining data processing and analysis, broadening the technology's application across various sectors.

The Global LiDAR Industry is classified based on component, installation, services, type, technology, range, application and region.

The market segments based on components include laser scanners, navigation, and positioning systems, and other components. The navigation and positioning segment is projected to surpass USD 2.8 billion by 2032. Laser scanners, pivotal to the LiDAR industry, emit laser beams and capture their reflections for precise measurements. These scanners, renowned for producing high-resolution 3D point clouds, are instrumental in topographic surveys, infrastructure inspections, and environmental monitoring. Recent advancements focus on extending measurement range, enhancing accuracy, and speeding up scans, catering to both static and dynamic environments. The rising demand for rapid and accurate data collection in sectors like construction and autonomous vehicles fuels this innovation.

LiDAR applications span geospatial mapping, autonomous vehicles, agriculture, construction, and more. The autonomous vehicles segment will have a projected CAGR of over 20.5% from 2024 to 2032. Geospatial mapping stands out as a primary application for LiDAR, providing high-resolution data essential for detailed topographic maps, urban planning, and environmental oversight. LiDAR's precision in elevation data and 3D model generation is crucial for mapping intricate terrains. As innovations boost point cloud density and processing speed, the demand for timely geographic information for infrastructure, disaster management, and resource oversight propels this segment's growth.

In 2023, North America led the global LiDAR market with a share exceeding 28%. The region's dominance stems from its emphasis on autonomous vehicles, geospatial mapping, and infrastructure projects. Robust R&D investments and a concentration of tech firms drive LiDAR innovation, vital for advanced navigation and mapping. North America's infrastructure initiatives leverage LiDAR for detailed surveying and monitoring, bolstered by supportive regulations. This blend of technological progress, investment, and regulatory backing cements North America's status as a leader in LiDAR applications.

Product Code: 421

Chapter 1 Methodology and Scope

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Advancements in autonomous vehicles
  - 3.8.1.2 Rising adoption in geospatial and mapping applications
  - 3.8.1.3 Technological advancements and cost reduction
  - 3.8.1.4 Increasing use in infrastructure development and smart cities
  - 3.8.1.5 Growing applications in environmental monitoring and agriculture
- 3.8.2 Industry pitfalls and challenges
  - 3.8.2.1 High costs and affordability
  - 3.8.2.2 Technical and operational limitations
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Component, 2021 - 2032 (USD million)

5.1 Key trends
5.2 Laser scanners
5.3 Navigation and positioning systems
5.4 Other components

Chapter 6 Market Estimates and Forecast, By Installation, 2021 - 2032 (USD million)

6.1 Key trends
6.2 Ground-based
- 6.2.1 Mobile
- 6.2.2 Static
6.3 Airborne
- 6.3.1 Topographic
- 6.3.2 Bathymetric

Chapter 7 Market Estimates and Forecast, By Services, 2021 - 2032 (USD million)

7.1 Key trends
7.2 Aerial surveying
7.3 Asset management
7.4 Geographic information systems
7.5 Ground-based surveying
7.6 Other services

Chapter 8 Market Estimates and Forecast, By Type, 2021 - 2032 (USD million)

8.1 Key trends
8.2 Mechanical
8.3 Solid-State

Chapter 9 Market Estimates and Forecast, By Technology, 2021 - 2032 (USD million)

9.1 Key trends
9.2 Time-of-Flight (ToF)
9.3 Phase-Shift
9.4 Frequency modulated continuous wave (FMCW)

Chapter 10 Market Estimates and Forecast, By Range, 2021 - 2032 (USD million)

10.1 Key trends
10.2 Short (< 200 m)
10.3 Medium (200-500 m)
10.4 Long (> 500 m)

Chapter 11 Market Estimates and Forecast, By Application, 2021 - 2032 (USD million)

11.1 Key trends
11.2 Geospatial mapping
11.3 Autonomous vehicles
11.4 Agriculture
11.5 Construction
11.6 Others

Chapter 12 Market Estimates and Forecast, By Region, 2021 - 2032 (USD million)

12.1 Key trends
12.2 North America
- 12.2.1 U.S.
- 12.2.2 Canada
12.3 Europe
- 12.3.1 UK
- 12.3.2 Germany
- 12.3.3 France
- 12.3.4 Italy
- 12.3.5 Spain
- 12.3.6 Rest of Europe
12.4 Asia Pacific
- 12.4.1 China
- 12.4.2 India
- 12.4.3 Japan
- 12.4.4 South Korea
- 12.4.5 ANZ
- 12.4.6 Rest of Asia Pacific
12.5 Latin America
- 12.5.1 Brazil
- 12.5.2 Mexico
- 12.5.3 Rest of Latin America
12.6 MEA
- 12.6.1 UAE
- 12.6.2 South Africa
- 12.6.3 Saudi Arabia
- 12.6.4 Rest of MEA

Chapter 13 Company Profiles

13.1 Luminar Technologies
13.2 Quanergy Systems
13.3 Innoviz Technologies
13.4 Aeva
13.5 Ouster
13.6 RoboSense
13.7 Hesai Technology
13.8 LeddarTech
13.9 Valeo
13.10 Continental AG
13.11 AEye
13.12 Cepton
13.13 RIEGL Laser Measurement Systems
13.14 Teledyne Optech
13.15 Leica Geosystems
13.16 Faro Technologies
13.17 Trimble
13.18 Topcon Positioning Systems
13.19 SICK AG
13.20 YellowScan
13.21 Waymo
13.22 NVIDIA
13.23 Apple