A growing interest in 3-dimensional imagery for navigation, positioning, and monitoring applications across diverse end-use verticals such as defense and aerospace, construction, disaster management, resource extraction, and power is driving the global LiDAR market. The growing demand in diverse end-use verticals has been further aggravated by technological advancements in aerial platforms and imaging technology. In addition, increasing investments towards autonomous vehicles is expected to have a positive impact on the overall market demand. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 12.1% during the forecast period 2020 – 2028. 

Report Scope

This report analyzes the global LiDAR market in terms of product type, components, end-use application, and geography. On the basis of product type, the market is segmented into airborne and terrestrial LiDAR systems. Based on components, the global market for LiDAR systems is classified in laser scanners, navigation and position, and other components. Similarly, on the basis of end-use, the global LiDAR market is segmented into defense & aerospace, engineering (urban mapping and planning) corridor mapping, environmental (coastal, forestry, flood mapping), transmission lines, autonomous vehicles, and others (mining, etc.). The geographical distribution of the global LiDAR market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. 

1.1    Report Description

Purpose of the Report

The purpose of this strategic research study titled “Global LiDAR Market - Growth, Share, Opportunities, and Competitive Analysis, 2020 – 2028” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global LiDAR market. 

Target Audience

• Industry Investors
• LiDAR System Manufacturers
• Unmanned Aerial Vehicle (UAV) Manufacturers
• Component Suppliers and Integrators
• End-users 

USP and Key Offerings

The report titled “Global LiDAR Market- Growth, Share, Opportunities, and Competitive Analysis, 2020 – 2028” offers strategic insights into the global LiDAR market along with the market size and estimates for the duration 2018 to 2028. The said research study covers in-depth analysis of multiple market segments based on product, component, end-use applications, and cross-sectional study across different geographies. In order to help strategic decision-makers, the report also includes competitive profiling of the leading LiDAR system manufacturers and technology providers, their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes: 

An overview of the global LiDAR market

• Current and future market trends to justify the forthcoming attractive sub-markets within the global LiDAR market
• Qualitative assessment tools such as market drivers, challenges and future prospects, value chain, and attractive investment proposition.
• Focus on each level of market segmentation based on product approvals, launch, and current and anticipated market dynamics.
• A general overview of the industry structure
• Company profiles highlighting key information about the major players operating in the global LiDAR market
• Market competition scrutiny tools such as market share analysis, fractal map, etc.
• SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global LiDAR market, offering market size and estimates for the period from 2018 to 2028, keeping in mind the above-mentioned factors. 

As of 2019, airborne or aerial systems dominated the global Light Detection and Ranging (LiDAR) market. These systems accounted for over 50% of the global LiDAR market revenue in 2019 and are expected to exhibit steady growth during the forecast period 2020 – 2028. The dominance and anticipated growth of these systems can be credited to the benefits offered such as accuracy, ability to cover large areas quickly and offer in-depth local elevation information. On the other hand, terrestrial LiDAR systems are presumed to witness maximum growth, outpacing their equivalent during the forecast period 2019 - 2028. This can be attributed to the growing demand for UAV LiDAR systems in multiple application segments such as precision farming, entertainment, and media. 

As of 2019, corridor mapping was the largest revenue contributing end-use segment in the global LiDAR market. Infrastructural development coupled with the mandates promoting the use of the technology during the construction of highways, railways, and roadways has been instrumental in driving the demand for LiDAR technology in corridor mapping applications. For instance, in India, a mandate necessitates the use of LiDAR systems for all highway projects. In addition, LiDAR systems are increasingly being used for disaster control and management applications, especially in the coastal areas and for setting-up of power transmission lines. Furthermore, the rising popularity of autonomous vehicles is expected to drive the demand for LiDAR in the following years. 

As of 2019, North America led the overall LiDAR market followed by Europe and the Asia Pacific respectively. The region accounted for over 35% of the global LiDAR market revenue and is anticipated to witness robust growth during the forecast period 2020 – 2028. The U.S. represents the largest individual LiDAR market worldwide. The on-going research and expenditure to develop advanced LiDAR systems have been instrumental in pushing the uptake of LiDAR systems in the country, especially among defense and government agencies. Developed regions including North America and Europe are expected to witness comparatively better growth in the first half of the forecast period. On the other hand, Asia Pacific is anticipated to register maximum growth over the forecast period 2020 – 2028. The anticipated growth is expected to be majorly driven by demand from countries including India and China.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of LiDAR market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the LiDAR market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of LiDAR market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the LiDAR market?
• Which is the largest regional market for LiDAR market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving LiDAR market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the LiDAR market worldwide?