LiDAR Market Projected to Reach USD 3,200 Million by 2026

The global LiDAR market in 2019 exceeded USD 800 Million. The market is expected to grow at a CAGR of over 18% and is anticipated to hit USD 3,200 Million by 2026.

LiDAR (light detection and ranging) is a remote sensing technology that makes use of advanced light-detecting sensors to measure ranges. The sensors estimate the range between the source and obstruction through scattered light measurements. Both LiDAR and radar technology follow the same approach, but the former one uses short-wavelength rays for measuring range. LiDAR systems are extensively used in construction, automotive, consumer electronics, mining, and many other sectors. Moreover, the adoption rate of these systems has escalated remarkably with the emergence of 4D LiDAR technology. All the aforementioned factors are propelling the global LiDAR market growth.

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LiDAR systems offering medium-range observation will witness splendid demand in the market during the forecast period

Medium-range LiDAR systems are capable enough to efficiently detect objects present within the range of 200–500 Meters. The systems with this range are preferred where cost-effectiveness and precision are the major concerns. These LiDAR sensors help in generating real-time 2D and 3D data to easily detect & identify entities within the range. Owing to these applications, the medium-range LIDAR segment is likely to propel splendidly in the coming years.

LiDAR technology for GIS services is anticipated to grow at the highest rate during 2020–2026

Geospatial data reveals the real-time position of a particular object on the Earth’s surface. GIS services thoroughly analyze the captured data for topological modeling, hydrological monitoring, geometric networking, and cartographic modeling. The considerably rising demand for GIS services by governments has been driving the segment growth of the global LiDAR market.

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North America to hold the dominating position in the global LiDAR market throughout the study timeframe

By region, North America is likely to lead the global LiDAR market owing to the tremendous use of LiDAR technology in a wide range of applications such as meteorology, environment, corridor mapping, and automation. The penetration of this technology in the automotive and driverless cars segment is going to boost its adoption in the coming years.

Some of the key players driving the global LiDAR market are Quantum Spatial, VelodyneLidar, Hexagon, RIEGL, YellowScan, SICK AG, Teledyne Technologies, FARO, Beijing Beiketian Technology Co. Ltd., and Trimble, among others.

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This report segments the global LiDAR market as follows:

Global LiDAR Market: Type Segmentation Analysis

  • Solid-state
  • Mechanical

Global LiDAR Market: Technology Segmentation Analysis

  • 2D LiDAR
  • 3D LiDAR
  • 4D LiDAR

Global LiDAR Market: Range Segmentation Analysis

  • Long
  • Medium
  • Short

Global LiDAR Market: Installation Type Segmentation Analysis

  • Airborne LiDAR
  • Ground-based LiDAR

Global LiDAR Market: Component Segmentation Analysis

  • Navigation and positioning systems
  • Laser scanners
  • Others

Global LiDAR Market: Service Segmentation Analysis

  • Ground-based surveying
  • Aerial surveying
  • GIS services
  • Asset management
  • Other services

Global LiDAR Market: Application Segmentation Analysis

  • Exploration
  • ADAS & driverless cars
  • Urban planning
  • Corridor mapping
  • Environment
  • Engineering
  • Meteorology
  • Cartography
  • Other applications

Global LiDAR Market: End-Use Industry Segmentation Analysis

  • Consumer electronics
  • Automotive & transportation
  • Metals & chemicals
  • Oil & gas
  • Smart cities & building automation
  • Medical
  • Power stations
  • Food & beverages
  • Water & wastewater
  • Mining

Global LiDAR Market: Regional Segmentation Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • Germany
    • The UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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