LiDAR Market by Product, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Jul 2021
  • Pages: 120
  • SKU: IRTNTR46650
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The LiDAR market size has the potential to grow by USD 1.57 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 15.20%. 

This report provides a detailed analysis of the market by product (airborne LiDAR and terrestrial LiDAR), application (corridor mapping, engineering, ADAS and driverless cars, environment, and others), geography (APAC, Europe, MEA, North America, and South America), and key vendors. 

Market Overview

LiDAR-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • FARO Technologies Inc.
  • GeoSLAM Ltd.
  • Hexagon AB
  • LeddarTech Inc.
  • Quanergy Systems Inc.
  • Robert Bosch GmbH
  • SICK AG
  • Teledyne Technologies Inc.
  • Trimble Inc.
  • Velodyne Lidar Inc.

 

The LiDAR market is fragmented and the vendors are deploying growth strategies such as focusing on technological mergers and developing technologically enhanced LiDAR solutions at a lower cost to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as expanding application areas of LiDAR technology to achieve growth opportunities. However, factors such as the high cost of LiDAR sensors will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the LiDAR market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This LiDAR market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

LiDAR Market: Key Drivers and Trends

  • The expanding application areas of LiDAR technology will fuel the growth of the LiDAR market size.
  • LiDAR technology offers several advantages in the construction and engineering industry, including improved productivity of teams and process efficiency and the accurate estimation of project costs.
  • Also, LiDAR technology can be used to identify the need for maintenance and repair of machinery and equipment at the site.
  • Such pre-analyses at construction sites offer significant cost reductions, which has made LiDAR technology extremely valuable and extensively used in construction and engineering applications.
  • Apart from the construction and engineering industry, LiDAR technology is also used in public safety, agriculture, utilities, and mining applications.
  • Considering the expanding applications of LiDAR, vendors are developing and launching application-specific LiDAR solutions. 
  • The increased adoption of LiDAR in automotive applications is identified as one of the significant factors responsible for LiDAR market growth.
  • To adapt to the constantly changing consumer requirements, automotive OEMs are focusing more on technologies that cater to the driverless, autonomous vehicle concept.
  • In addition, non-automotive companies, such as Google and Apple, are investing in autonomous vehicles by leveraging their expertise in artificial intelligence.
  • The move toward autonomous vehicles has resulted in the widescale adoption of advanced technologies in new-generation vehicles.
  • Several vehicle manufacturers are integrating LiDAR technology in their newly launched models.
  • Such an increase in the adoption of LiDAR sensors in automotive applications is expected to drive the global LiDAR market during the forecast period. 

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LiDAR Market: Segmentation by Geography

LiDAR-Market-Market-Share-by-Region-2020-2025

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39% of the market’s growth will originate from North America during the forecast period. The US is a key market for LiDAR in North America. Market growth in this region will be faster than the growth of the market in South America.

The increasing application areas of LiDAR will facilitate the LiDAR market growth in North America over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

LiDAR Market: Segmentation by Product

LiDAR-Market-Market-Share-by-Product-2020-2025

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The airborne LiDAR segment of the market includes LiDAR sensors that are installed on aircraft and unmanned aerial vehicles (UAVs). Airborne LiDAR sensors are witnessing an expansion in their application areas, such as geospatial mapping, archaeology, exploration, inspection, surveillance, and other applications. Such increasing applications of airborne LiDAR sensors are expected to drive the LiDAR market during the forecast period. The LiDAR market share growth by the airborne LiDAR segment will be faster than the terrestrial LiDAR segment.    

This report provides an accurate prediction of the contribution of all the segments to the growth of the LiDAR market size. Fetch actionable market insights on post COVID-19 impact on each segment.   

 

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LiDAR Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive LiDAR market growth during the next five years
  • Precise estimation of the LiDAR market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the LiDAR industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of LiDAR market vendors

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LiDAR Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 15.20%

Market growth 2021-2025

$ 1.57 billion

Market structure

Fragmented

YoY growth (%)

10.05

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 39%

Key consumer countries

US, China, Germany, UK, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

FARO Technologies Inc., GeoSLAM Ltd., Hexagon AB, LeddarTech Inc., Quanergy Systems Inc., Robert Bosch GmbH, SICK AG, Teledyne Technologies Inc., Trimble Inc., and Velodyne Lidar Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Airborne LiDAR - Market size and forecast 2020-2025
    • Terrestrial LiDAR - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Corridor mapping - Market size and forecast 2020-2025
    • Engineering - Market size and forecast 2020-2025
    • ADAS and driverless cars - Market size and forecast 2020-2025
    • Environment - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Application

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption
      • Industry risks

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • FARO Technologies Inc.
      • GeoSLAM Ltd.
      • Hexagon AB
      • LeddarTech Inc.
      • Quanergy Systems Inc.
      • Robert Bosch GmbH
      • SICK AG
      • Teledyne Technologies Inc.
      • Trimble Inc.
      • Velodyne Lidar Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The lidar market growth will increase by $1572.61 million during 2020-2025.
      The lidar market is expected to grow at a CAGR of 15.20% during 2020-2025.
      Technavio has segmented the lidar market by product (Airborne LiDAR and Terrestrial LiDAR) ,application (Corridor mapping, Engineering, ADAS and driverless cars, Environment, and Others) , and geographic (North America, Europe, APAC, MEA, and South America).
      FARO Technologies Inc., GeoSLAM Ltd., Hexagon AB, LeddarTech Inc., Quanergy Systems Inc., Robert Bosch GmbH, SICK AG, Teledyne Technologies Inc., Trimble Inc., Velodyne Lidar Inc. are a few of the key vendors in the lidar market.
      North America will register the highest growth rate of 38.74% among the other regions. Therefore, the lidar market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • China
      • Germany
      • UK
      • Japan
      The key factors driving the lidar market growth are:
      • Expanding application areas of LiDAR technology
      The lidar market vendors should focus on grabbing business opportunities from the airborne lidar segment as it accounted for the largest market share in the base year.
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