LiDAR Market by Technology (2D LiDAR, 3D LiDAR, 4D LiDAR), Component (GPS Receiver, Laser, Scanner), Service, Type, End-Use Application - Global Forecast 2024-2030

LiDAR Market by Technology (2D LiDAR, 3D LiDAR, 4D LiDAR), Component (GPS Receiver, Laser, Scanner), Service, Type, End-Use Application - Global Forecast 2024-2030

The LiDAR Market size was estimated at USD 1.62 billion in 2023 and expected to reach USD 1.84 billion in 2024, at a CAGR 15.98% to reach USD 4.57 billion by 2030.

Light detection and ranging (LiDAR) is an advanced remote sensing system that detects, identifies, and creates a precise 3-D virtual image of an object. It enables the creation of 3D and 2D images with the help of a high-intensity laser tool, microelectromechanical system (MEMS) scanner, and GPS transceiver. With increased demand from 3D modeling, government initiatives, and significant investments, the LiDAR market has shown continued growth, making it appealing to startups interested in developing UAVs equipped with this technology. However, high costs of ownership and safety concerns pose challenges to the market's growth and hamper its accuracy during extreme weather events or climate disasters. Despite these challenges, advancements in mobile applications combined with AI & IoT integration create a new arena of opportunities for the market to grow in the near future. Additionally, the increasing investment in LiDAR startups by automotive giants and technological shifts with the adoption of solid-state, MEMS, flash LiDAR, and other LiDAR technologies present future opportunities for market growth.

Regional Insights

The LiDAR market in the Americas has been experiencing robust growth, driven largely by advancements in autonomous vehicle technology and the adoption of LiDAR in the construction, mining, and agriculture industries. The presence of established players and technology firms actively investing in research and development has further stimulated market progress. Market penetration in North America, particularly the United States, is a significant contributor to the overall performance in the Americas. In Europe, the LiDAR market is showing a steady increase, with the wide acceptance of LiDAR technology in automotive applications, environmental monitoring, and topographical surveys. The market is also getting a boost from the public sector through infrastructure development initiatives and smart city projects. Meanwhile, the Middle East and Africa are emerging markets with potential growth attributed to increased awareness and gradual adoption of the technology in various sectors. The APAC is witnessing a rapid growth phase in the LiDAR market, fueled by escalating demand in China, Japan, South Korea, and India. The region's growth is influenced by the expansion of automotive industries, significant investment in smart city and infrastructure projects, and a surge in environmental monitoring practices. Moreover, the support from governments in the region for technological innovations in the transportation and construction sectors is propelling the adoption of LiDAR systems.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the LiDAR Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing demand for 3D modeling for geoscientific projects and government initiatives for LiDAR surveys
Rising shift toward renewable energy and precision agriculture
Prominent inclusion of LiDAR in connected devices, autonomous vehicles, and Industry 4.0 projects

Market Restraints

High cost of ownership of LiDAR technology and strict safety considerations for lidar sensors

Market Opportunities

Advancements in mobile LiDAR in support of AI, IoT, and Big data
Emerging startup ecosystem and attractive investments to enhance R&D of LiDAR equipped UAVs

Market Challenges

Limitations associated with inaccuracy and ineffectiveness during extreme weather conditions and climate disasters

Market Segmentation Analysis

Technology: Growing deployment of 4D LiDAR for advanced safety-critical applications
Component: Higher demand for lasers with high performance and safety standards
Service: High preferences for aerial LiDAR for rapid coverage and minimizing the need for ground interventions
End-Use Application: Significant benefits of LiDAR in defence & military sector

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the LiDAR Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the LiDAR Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Strategic Merger Between Ouster and Velodyne Elevates Global Lidar Capabilities

Ouster merged with Velodyne Lidar to form a unified entity under the Ouster name and facilitated an improved product suite that includes the Ouster OS, DF series sensors, Velodyne sensors, Ouster Gemini, and Bluecity software, enhancing the company's competitive edge in the market. The merger embodies a significant intellectual property portfolio featuring 173 granted and 504 pending patents, bolstering its technological domain. With this merger, Ouster plans to expand its market reach, accelerate lidar adoption, and introduce innovative software solutions to create new revenue streams.

Comprehensive Introduction of RoboSense's RS-Fusion-P6: A New Paradigm for L4 Autonomous Driving

RoboSense unveiled the RS-Fusion-P6 (P6), an automotive-grade solid-state LiDAR perception solution tailor-made for Level 4 autonomous driving. The P6 epitomizes RoboSense's pioneering advancements in chips, hardware, and software by merging innovative two-dimensional MEMS scanning hardware with sophisticated artificial intelligence software. This system is engineered for adaptability and scalability, making it applicable across various autonomous vehicle platforms and scenarios.

Mercedes-Benz Expands Partnership with Luminar for Advanced LiDAR Integration in Future Vehicle Models

Luminar expanded its collaboration with Mercedes-Benz to significantly integrate its advanced sensors and software into a wide array of the automaker's vehicles from mid-decade. This strategic development will see the integration of Luminar's upcoming version of Iris LiDAR technology into Mercedes-Benz's new partially automated driving system designed for several future models. The enhanced system will support hands-free highway driving at speeds up to 130 kilometers per hour and improve driver-assist features in urban settings.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the LiDAR Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the LiDAR Market, highlighting leading vendors and their innovative profiles. These include Aeva Inc., AEye, Inc., Avnet, Inc., Baraja Pty Ltd., BEAMZ LiDAR Inc., Beijing SureStar Technology Co. Ltd., Blickfeld GmbH, Cepton, Inc., dSPACE GmbH, FARO Technologies, Inc., Geokno India Private Limited by GMR Group, Hypersen Technologies Co., Ltd., Innoviz Technologies Ltd., Innovusion, Inc., Integrated Optics, UAB, Jabil Inc., Jenoptik AG, L3Harris Technologies, Inc., Leddartech Inc., Leica Geosystems AG by Hexagon AB, Leishen Intelligent Systems Co., Ltd, Livox Technology Company Limited Co., Ltd., Luminar Technologies Inc., Mapix Technologies Ltd., MicroVision, Inc., Mouser Electronics, Inc., MVT Geo-Solutions, Neptec Technologies Corp., Neuvition Technology, NV5 Global, Inc., Ouster, Inc., Pepperl+Fuchs Inc., PHB Corp., Phoenix LiDAR Systems, Quanergy Systems, Inc., RedTail LiDAR Systems by 4D Tech Solutions, Inc., RIEGL Laser Measurement Systems GmbH, SemiNex Corporation, Sick AG, Teledyne Technologies Incorporated, Topcon Positioning Systems, Inc., Trimble, Inc., Vaisala Oyj, Valeo S.A., Velodyne Lidar, Inc., Waymo LLC, Xylem Inc., YellowScan, Zvision, and ZX Lidars.

Market Segmentation & Coverage

This research report categorizes the LiDAR Market to forecast the revenues and analyze trends in each of the following sub-markets:

Technology
2D LiDAR
3D LiDAR
4D LiDAR
Component
GPS Receiver
Laser
Scanner
Service
Aerial Surveying
Asset Management
GIS Services
Ground-Based Surveying
Type
Airborne LiDAR
Bathymetric
Topographic
Satellite LiDAR
Terrestrial LiDAR
Mobile
Static
End-Use Application
Agriculture & Forestry
Automotive & Transportation
Building & Construction
Defence & Military
Energy & Utility
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year