LiDAR Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

LiDAR Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

Global LiDAR Market will be around US$ 7.25 billion by 2030, according to Renub Research. Light Detection and Ranging is a global remote sensing technology growing in reputation. It employs laser pulses to measure distances to the Earth's surface, measuring precise 3D land maps. Used drastically in distinct sectors, LiDAR speeds up project planning and management by quickly taking images of specific spatial data. Continuous improvements in LiDAR sensor tech and data processing methods make it extra handy and cost-powerful, driving its massive use globally throughout various applications.

The global LiDAR market is anticipated to grow at a CAGR of 20.99% throughout 2024 to 2030

LiDAR sensors extend beyond cars and skylines, locating numerous packages. In aerial realms, they empower self-driving vehicles with 3-D mapping for more secure transportation. In smart cities, LiDAR aids urban planning, traffic control, infrastructure planning, and disaster response. Its precision revolutionizes land surveying, construction planning, and resource exploration. Drones with LiDAR enhance agriculture for crop monitoring, forestry for sound resource management, and archaeology for uncovering hidden landscapes. LiDAR's reach expands into protection and surveillance for border control, perimeter safety, and crime scene investigation. In robotics and automation, LiDAR enables correct navigation and obstacle avoidance, from warehouse robots to autonomous business machines.

Advancements in sensor technology and production make LiDAR affordable and versatile. Smaller LiDAR sensors easily fit into drones, robots, and smartphones. Software enhancements, like superior algorithms, extract treasured insights from LiDAR data in real time. The Asia-Pacific region stands proud in the global LiDAR market, especially for urban planning in developing towns. LiDAR helps smart town tasks by enabling smart site traffic control and disaster readiness, attracting significant investments. Governments use LiDAR to improve sustainable infrastructure, evaluate environmental impact, and conserve sources. Japan emphasizes high-precision programs, specializing in surveying and mapping. Hence, the value of the Global LiDAR Market was US$ 1.91 Billion in 2023.

Terrestrial LiDAR is expanding its share globally

By type, the global LiDAR market is fragmented into Terrestrial, Aerial, Mobile, and Short Range. Terrestrial LiDAR is increasing its worldwide market presence. This technology offers precise and accurate 3D mapping of terrestrial environments, making it necessary in various industries. Its potential to capture precise spatial data quickly and successfully enhances undertaking planning, monitoring, and management techniques. Also, improvements in LiDAR sensor technology and data processing strategies have made terrestrial LiDAR more available and cost-effective, further propelling its adoption globally.

The laser scanners are growing in the global LiDAR market

By component, the global LiDAR market is categorized into LASER, Inertial Navigation System, Camera, GPS GNSS Receiver, and MEMS (Micro Electro Mechanical Systems). Laser scanners are experiencing a sizeable upward push in the market due to their versatility and growing programs. These scanners provide excessive precision, making them critical devices in the car, advent, archaeology, and forestry industries. The demand for unique spatial statistics for urban planning, infrastructure development, and environmental monitoring drives the adoption of laser scanners. Moreover, upgrades in sensor technology and data processing talents also propel their growth in the LiDAR market.

Corridor mapping commands a high proportion in the global LiDAR market

By application, the global LiDAR market comprises Corridor Mapping, Engineering, Environment, Exploration, Advanced Driver Assistance Systems, and Others. Corridor mapping holds an enormous share of the international LiDAR market. This dominance stems from its immense utility in various industries, which include transportation, town planning, and infrastructure improvement. Corridor mapping LiDAR structures are instrumental in growing particular 3D maps of linear features like roads, railways, pipelines, and electricity traces. They offer precise information collection and assessment competencies, facilitating efficient plans, preservation, and international management of transportation networks and linear infrastructure responsibilities.

3D technology is boosting the LiDAR market with its accurate and high-performance capabilities

The global LiDAR market is broken up into 3D, 2D, and 1D by technology. The industry is witnessing a surge in the adoption of 3D technology. 3D LiDAR systems provide superior precision, accuracy, and spatial focus compared to traditional 2D counterparts. They are extensively applied in independent automobiles, town-making plans, and infrastructure tracking programs. The growing call for exact and complete 3D mapping solutions, coupled with advancements in sensor technology and data processing skills, propels the quick growth of 3D technology in the international LiDAR market.

Short-range LiDAR holds a significant share in the global market due to its versatility, cost-effectiveness, and wide-ranging applications

By range, the global LiDAR market is split up into short-range, medium-range, and long-range. Short-range LiDAR holds an extensive share in the global market. It is broadly utilized in automotive, robotics, and consumer electronics for collision avoidance, motion recognition, and object detection applications. The compact size, high precision, and low power intake of short-range LiDAR structures make them appealing for integration into various gadgets and systems. As those industries expand, the demand for short-range LiDAR is anticipated to grow.

China is poised to lead the global LiDAR market because of strategic investments, technological prowess, and an expansive market landscape

By countries, the global LiDAR market is dissected into North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey), Asia Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, New Zealand), Latin America (Brazil, Mexico, Argentina), Middle East & Africa (South Africa, Saudi Arabia, and UAE). The dedication of China to emerging technology, self-reliant automobiles, and smart cities fuels prominent authorities and private sector funding. Chinese groups actively increase and install LiDAR answers, riding innovation and affordability. The sheer scale of city improvement initiatives in China amplifies the demand for LiDAR in infrastructure planning and environmental tracking applications. With a focus on high quality, cost-effectiveness, and sturdy surroundings, China is well located to dominate the LiDAR market, shaping the future of this transformative technology on an international scale.

Key Players.

Faro Technologies Inc., Hexagon AB, Vaisala Oyj, Sick AG, Teledyne Technologies Inc., Innoviz Technologies Ltd., LeddarTech Inc., and NV5 Global Inc. are the companies present in the global LiDAR market.

In April 2023 – Teledyne Optech launched the CL-360 marine LiDAR sensor. It captures complete above and below-water images with survey-grade accuracy in a single workflow and can be integrated with high-resolution multibeam systems and CARIS Ping-to-Chart.

Renub Research report titled “Global LiDAR Market By Types (Terrestrial, Aerial, Mobile, and Short Range), Components (LASER, Inertial Navigation System, Camera, GPS GNSS Receiver, and MEMS (Micro Electro Mechanical Systems)), Application (Corridor Mapping, Engineering, Environment, Exploration, Advanced Driver Assistance Systems, and Others), Technology (3D, 2D, and 1D), Range (Short Range, Medium Range, and Long Range), Countries (North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey), Asia Pacific (China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, New Zealand), Latin America (Brazil, Mexico, Argentina), Middle East & Africa (South Africa, Saudi Arabia, and UAE)), Company Analysis (Faro Technologies Inc., Hexagon AB, Vaisala Oyj, Sick AG, Teledyne Technologies Inc., Innoviz Technologies Ltd., LeddarTech Inc., and NV5 Global Inc.)” provides a complete study of Global LiDAR Industry.

Types – Global LiDAR Market breakup in 4 viewpoints:

1. Terrestrial
2. Aerial
3. Mobile
4. Short Range

Components – Global LiDAR Market breakup in 5 viewpoints:

1. LASER
2. Inertial Navigation System
3. Camera
4. GPS GNSS Receiver
5. MEMS (Micro Electro Mechanical Systems)

Application – Global LiDAR Market breakup in 6 viewpoints:

1. Corridor Mapping
2. Engineering
3. Environment
4. Exploration
5. Advanced Driver Assistance Systems
6. Others

Technology – Global LiDAR Market breakup in 3 viewpoints:

1. 3D
2. 2D
3. 1D

Range – Global LiDAR Market breakup in 3 viewpoints:

1. Short Range
2. Medium Range
3. Long Range

Country – Global LiDAR Market breakup in 5 viewpoints:

1. North America

1.1 United States
1.2 Canada

2. Europe

2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey

3. Asia Pacific

3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand

4. Latin America

4.1 Brazil
4.2 Mexico
4.3 Argentina

5. Middle East & Africa

5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

All the Key players have been covered from 3 Viewpoints:

• Overview
• Recent Developments
• Revenue Analysis

Company Analysis:

1. Faro Technologies Inc.
2. Hexagon AB
3. Vaisala Oyj
4. Sick AG
5. Teledyne Technologies Inc.
6. Innoviz Technologies Ltd.
7. LeddarTech Inc.
8. NV5 Global Inc.