LIDAR Market by Product (Aerial, Ground-Based, UAV, and Solid-State), Application (Corridor Mapping, Engineering, ADAS & Driverless Car, Exploration, Urban Planning, Cartography, & Meteorology), Component, Services, and Geography - Global Forecast to 2022
The
LiDAR market is expected to be worth USD 5,204.8 Million by 2022, growing at a
CAGR of 25.8% between 2017 and 2022. The growth in this market can be
attributed to the encouragement from the governments, application of LiDAR in
engineering projects and large magnitude set, and rise in demand for robust
security and sensor accuracy.
Browse 68 market data tables and 58
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2022"
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Major players operating in the LiDAR market are Teledyne Optech
Inc. (Canada), Leica Geosystems (Sweden), Riegl Laser Measurement Systems GmbH
(Austria), Trimble Navigation Limited (U.S.), FARO Technologies (U.S.). Quantum
Spatial (U.S.), Beijing Beike Technology Co., Ltd (isurestar) (China), Velodyne
Lidar, Inc.(U.S.), Yellowscan (France), Geokno India Pvt. Ltd. (India), Trimble
Inc. (U.S.), and SICK AG (Germany).
LiDAR market for laser scanners is expected to grow at the
highest rate between 2017 and 2022
The laser scanner is a major component contributing to the growth
of this market. The market for laser scanners is increasing at good pace owing
to the technological advancement in laser technology. Moreover, the market for
laser scanners is also growing due to a rising demand for ground-based LiDAR.
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Market for solid-state LiDAR is expected to grow at the
highest rate between 2017 and 2022
The market for solid-state LiDAR is expected to exhibit the
highest growth rate during the forecast period. Solid-state LiDAR systems use
laser scanners to generate a 3D image of the environment, and this 3D image is
processed automatically to perform monitoring, warning, braking, and steering
tasks. The growth in the market for solid-state LiDAR can be attributed the
advancement in the automotive industry, especially aimed at the driverless cars
and advanced driver assistance systems (ADAS) application. Solid-state LiDAR
can be used in various automotive applications such as in ADAS, autonomous
cars, and so on. The inclination toward self-driven cars and few mandates for
ADAS application is promoting the growth of the market.
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LiDAR market for GIS services is expected to show
substantial growth during forecast period
The market for GIS services is witnessing a substantial growth
opportunity owing to increasing demand for GIS services in canopy height
estimation, forest planning, and harvesting planning applications. These
applications are majorly adopted by the government for the forest management
and for planning crops. Increasing interest of the governments is expected to
encourage the overall LiDAR market.
North America held the largest share of the LiDAR market
North America dominates the LiDAR market owing to the increasing
investment of business giants toward ADAS and driverless cars, providing new
opportunities for small, versatile, and low-cost LiDAR systems. General Motors
(U.S.), Google (U.S.), and Apple Inc. (U.S.) are the business giants which are
in the race of manufacturing these cars. In addition, the major companies such
as Trimble, Faro, and Velodyne are based in the U.S., which is also a key
factor contributing to a large share of the U.S. in the market.
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