About LiDAR Technology
LiDAR is a popular remote sensing method used for measuring the exact distance of an object on the earth’s surface. There are three primary components of a LiDAR instrument such as the scanner, laser, and GPS receiver. Most government and private organizations use helicopters, drones, and airplanes for acquiring LiDAR data.LiDAR can provide accurate information even in the case of obstructions such as bridges and tunnels. LiDAR in automobiles is used in self-driving cars as it can provide visibility in all directions all the time.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 22.05% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global LiDAR Technology market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Leica Geosystems AG (Sweden), Trimble, Inc. (United States), Teledyne Optech (Canada), Faro Technologies Inc. (United States), RIEGL Laser Measurement Systems GmbH (Austria), Sick AG (Germany), Quantum Spatial (United States), Beijing SureStar Technology Co. Ltd. (China), Velodyne Lidar, Inc. (United States) and YellowScan (France) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Beike Tianhui Technology Co. Ltd (China), Hexagon AB (Sweden) and Geokno India Pvt Ltd (India).
Segmentation Overview
AMA Research has segmented the market of Global LiDAR Technology market by Type (2D LiDAR, 3D LiDAR and 4D LiDAR), Application (Corridor mapping, Engineering, Environment, ADAS & driverless cars, Exploration, Urban planning, Cartography, Meteorology and Other) and Region.
On the basis of geography, the market of LiDAR Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. Aerial surveying will boost the LiDAR Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Type, the sub-segment i.e. Mechanical will boost the LiDAR Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Installation, the sub-segment i.e. Ground-based LiDAR will boost the LiDAR Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Laser scanners will boost the LiDAR Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Range, the sub-segment i.e. Short will boost the LiDAR Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of 4D LiDAR
Market Growth Drivers:
Rising Adoption of LiDAR Systems in UAVs, Engineering, and Construction Applications and Increasing Use of LiDAR in Geographical Information Systems (GIS)
Challenges:
Lack of Cost-Efficiency
Restraints:
Use of Low-cost and Lightweight Photogrammetry Systems
Opportunities:
Development of Better Geospatial Solutions using Sensor Fusion and Adoption of Lidar in Solid-state, MEMS, Flash Lidar, among Others
Market Leaders and their expansionary development strategies
In April 2024, Inertial Labs has announced a partnership with Sony to integrate state-of-the-art LiDAR technology into Sony’s Airpeak drone. This collaboration aims to enhance the drone’s applications in surveying, mapping, and cinematic videography, aiming to bring very high accuracy and detail to aerial data acquisition. The partnership will see the incorporation of advanced LiDAR systems, developed by Inertial Labs, into Sony’s flagship drone platform.
In January 2024, Innoviz Technologies Ltd. (NASDAQ: INVZ) (the "Company" or "Innoviz"), a technology leader of high-performance LiDAR sensors and perception software, today unveiled Innoviz360, the newest member of the high-performance Innoviz LiDAR family. Innoviz360 offers an improved performance with substantial cost reduction. The Innoviz360 innovative design is based on a new approach that overcomes existing spinning LiDAR barriers that are limited in performance, expensive, and too large for most applications.
Key Target Audience
Providers of LiDAR Technology, Potential Investors, Market Research Firms, Regulatory Bodies, End-Users and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.