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LiDAR Market Study by Major Drivers and Revenue Forecast over 2020 – 2025

Author : Ronak Bora | Published Date : 2020-09-07 

The Asia Pacific LiDAR market is expected to register a CAGR of over 35% during the projected time duration. The increasing number of smart city initiatives in the countries including Japan, China, and India has given rise to various new expansion opportunities for the LiDAR market. The North America region has held a major market share of over 50% in the LiDAR market in 2018. This is attributed to the strong foothold of large automobile companies operating in the region, undertaking various R&D initiatives to develop advanced LiDAR devices. The rising use of drones for recreational & commercial purposes is also spurring the market.

The topographic LiDAR market is anticipated to grow at a CAGR of more than 25% over the projected time duration. The topographic systems are witnessing a high degree of demand due to their ability to penetrate forest canopy and generate precise 3D models of various regional landscapes. The topographic devices are being used to develop digital terrain models, contours, topographic classified point clouds, digital surface models, and topographic point clouds. The players present in the market are developing customized products to cater to applications such as disaster planning, forest inventory, country & state side mapping, soil erosion management, and emergency management.

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The mechanical LiDAR market accounted for over 90% of the market share in 2018 due to the extensive demand for LiDAR systems in autonomous vehicles. The major automakers are exploring new avenues to develop inexpensive LiDAR devices for their driverless cars. Currently, LiDAR technology is being incorporated into advanced driver assistance systems to augment the safety features in semi-autonomous cars. The bulky nature and high price associated with mechanical LiDAR devices have been hindering LiDAR industry growth. The solid-state LiDAR industry is expected to attain a high CAGR over the forecast timeline. The technology is currently in the development phase and is anticipated to be commercialized by the end of 2020. The automotive enterprises and OEMs are undertaking various strategic initiatives to accelerate the innovations in the solid-state LiDAR landscape.

The corridor mapping LiDAR market held more than 30% share in 2018 due to the rising demand for high-resolution and real-time data in network and infrastructure management services across numerous industry verticals such as roads, utilities, railways, and oil & gas. The corridor mapping allows the generation of high-resolution 3D models and maps of infrastructures, rivers, coastal sections, powerlines, roads, and networks. It thoroughly maps and scans the examined lines to process the 3D cloud data and characterize the elements of interest. The environment market is anticipated to attain a growth rate of over 32% over the forecast time period. It is being used for various geoscience applications to build accurate and high-quality 3D data and study various ecosystems of wildlife species.

LiDAR technology has also found its deployment in environment applications. Airborne LiDARs are used to detect and map vegetation, deep waters and dense clouds. LiDAR is being used in oceanography to estimate general biomass and phytoplankton fluorescence in the surface layers of the ocean. LiDAR also enables scientists to determine the biodiversity of the forest helping to preserve ancient trees. This in consequence, is expected to drive LiDAR market share from environment applications, projected to register a CAGR of 32% over 2019-2025.

Boasting of numerous applications across several industries, LiDAR industry is slated to gain commendable traction across the globe. Core companies are focusing on enhancing their existing LiDAR portfolio and several other have been adopting LiDAR in their base operations as well. Driven by the escalating demand to collect highly accurate data across various project sites, LiDAR market valuation is expected to exceed USD 10 billion by 2025.

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Some of the players operating in the LiDAR market are Geodigital, Innoviz Technologies, Leddartech, Ouster, Quantum Spatial, Teledyne Optech, Topcon Positioning Systems, Riegl Laser Measurement Systems, Quanergy Systems, Trimble, Velodyne LiDAR, Yellowscan. Valeo, Geokno, Beijing Surestar Technology, Leica Geosystems, Michael Baker International, and Faro Technologies.

Table of Contents (ToC) of the report:

Chapter 1 Methodology & Scope

1.1 Methodology

1.1.1 Scope

1.1.2 Definitions

1.1.3 Methodology and forecast parameters

1.2 Data sources

1.2.1 Secondary

1.2.1.1 Paid sources

1.2.1.2 Public sources

1.2.2 Primary

Chapter 2 Executive Summary

2.1 LiDAR industry 3600 synopsis, 2014 - 2025

2.2 Business trends

2.3 Regional trends

2.4 Product trends

2.5 LiDAR type trends

2.6 Application trends

Chapter 3 LiDAR Market Insights

3.1 Introduction

3.2 Industry segmentation

3.3 Industry landscape

3.4 Industry ecosystem analysis

3.5 Industry ecosystem analysis

3.6 Technology & innovation landscape

3.6.1 Single photon or Geiger mode systems

3.6.2 Multi Pulse-in Air

3.7 Use cases

3.7.1 Land surveying

3.7.2 Power line inspection for maintenance

3.7.3 Forestry and farming

3.7.4 Mining

3.8 Regulatory landscape

3.9 Industry impact forces

3.9.1 Growth drivers

3.9.1.1 Increasing demand for mapping

3.9.1.2 Growing demand for 3D imaging

3.9.1.3 Increasing adoption among environment & government applications

3.9.1.4 Advent of solid-state LiDAR technology

3.9.1.5 Deployment of LiDAR in UAVs

3.9.2 Industry pitfalls and challenges

3.9.2.1 Software development gap

3.9.2.2 Lack of standardization

3.10 Growth potential analysis

3.11 Porter’s analysis

3.12 PESTEL analysis

 Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/lidar-light-detection-and-ranging-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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