Lidar Market: North America Is Expected To Emerge As One Of The Leading Region Over The Forecast Period

 LiDAR Industry Overview

The global LiDAR market size is expected to reach USD 4.71 billion by 2030, registering a CAGR of 9.8% during the forecast period, according to a new report published by Grand View Research, Inc. The market growth is attributable to the rising adoption of LiDAR technology in environmental mapping, automobile safety application arenas, and construction and architectural sectors for monitoring 3D-modeling applications, among others. As this technology is one of the key sensing technologies for enabling hybrid and fully autonomous driving, the rapid development of self-driving vehicles is expected to propel market growth.

Various organizations are focusing on enhancing their LiDAR technology to provide improved safe driving car technologies. For instance, in January 2022, Cepton, a US-based developer and manufacturer of LiDAR products, selected OSRAM's 905 nm edge-emitting lasers to combine high optical output power with low-power consumption light detection and ranging systems for providing enhanced ADAS solutions. The ADAS application segment is expected to witness notable growth owing to the rising incorporation of automotive safety and forward-collision avoidance systems.

The regulatory authorities in the U.K have mandated the installation of automotive safety technologies. The Euro NCAP Advanced forms clear guidance related to the safety benefits of technologies such as blind-spot monitoring, lane support, Autonomous Emergency Braking (AEB), speed alert, attention assist, vision enhancement, and pre-crash sensing. Rising developments in 3D scanning solutions are expected to propel market growth over the forecast period. For instance, in October 2018, Faro Technology, Inc., in partnership with STORMBEE, introduced a new cost-effective airborne LiDAR scanning solution.

The increasing environmental concerns have enforced the formulation of government regulations over the past decade. The authorities have been implementing strategies, activities, and policies to tackle the concerns. Furthermore, the industry faces constraints due to the high cost of these services and the limited availability of geospatial data; however, 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.


LiDAR Market Segmentation

Grand View Research has segmented the global LiDAR market based on product type, application, component, and region:


Based on the Product Type, the market is segmented into Airborne, Terrestrial, and Mobile & UAV.

  • 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.
  • 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.

 


Based on the Application, the market is segmented into Corridor Mapping, Engineering, Environment, Exploration, Advanced Driver Assistance Systems (ADAS), and Others.

  • 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.
  • 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.

 


Based on the Component, the market is segmented into Laser Scanners, GPS, Navigation (IMU), and Others.

  • 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. 
  • 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. 

 

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

 

Order a free sample PDF of the LiDAR Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

 

Comments

Post a Comment

Popular posts from this blog

Innovations and Trends in the Window Treatment Market

  Window Treatment Industry Data Book | Forecast 2030 Window Treatment Industry Data Book - Blinds & Shades, Curtains and Shutters Market Grand View Research’s window treatment industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.   Access the Global Window Treatment Industry Data Book, 2023 to 2030 , compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies   Blinds And Shades Market Report Highlights North America is expected t
Read more

Heating Equipment Market: A Warm Outlook for 2023

  Heating Equipment Industry Data Book | Forecast 2030 Heating Equipment Industry Data Book - Heat Pump, Unitary Heaters, Warm Air Furnace and Space Heating Boilers Market Grand View Research’s heating equipment industry database is a collection of market sizing information & forecasts, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports and summary presentations on individual areas of research. Access the Global Heating Equipment Industry Data Book, 2023 to 2030 , compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies   Heat Pump Market Report Highlights In 2022, the air-source technology segment dominated with a revenue share of o
Read more

Micro-Mobility Charging Infrastructure Market Worth $27.70 Billion By 2030

  Micro-mobility Charging Infrastructure Industry Overview The global  micro-mobility charging infrastructure market  size is expected to reach USD 27.70 billion by 2030, growing at a CAGR of 25.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing awareness about green transportation modes is expected to drive the adoption of micro-mobility vehicles across the globe. An increasing number of people are preferring e-scooters for traveling over shorter distances as these vehicles take less parking space and can recharge within a shorter time. Additionally, several charging stations for e-scooters provide a dedicated parking space, which helps reduce traffic congestion. Furthermore, these charging stations can be efficiently designed as per the available space and are adaptable to any e-scooter design. These factors are expected to create growth opportunities for the market over the forecast period. The growing preference for wireless charging station
Read more