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The LiDAR Market is Projected to Grow from USD 844 Million in 2019 to USD 2,273 Million by 2024, Recording a CAGR of 18.5% Between 2019 and 2024 - ResearchAndMarkets.com

November 28, 2019

DUBLIN--(BUSINESS WIRE)--Nov 28, 2019--

The “LiDAR Market by Type (Mechanical, Solid-state), Installation Type, Service (Aerial Surveying, GIS services), Application (Corridor Mapping, Environment, Engineering, ADAS & Driverless Cars), Component, Range, and Geography - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

Rising adoption of LiDAR systems in UAVs to drive the growth of LiDAR market

The LiDAR market is projected to grow from USD 844 million in 2019 to USD 2,273 million by 2024, recording a CAGR of 18.5% between 2019 and 2024. Rising adoption of LiDAR systems in UAVs, engineering, and construction applications; increasing use of LiDAR in geographical information systems (GIS) applications; and the emergence of 4D LiDAR are the major factors driving the growth of the LiDAR market. However, safety threats related to UAVs and autonomous cars acts as a restraint for the market growth.

Based on technology, 4D LiDAR to be the fastest-growing technology segment between 2019 and 2024

The growth of 4D LIDAR is attributed to the widespread adoption of 4D LiDAR in applications such as ADAS, driverless cars, and robotics. Autonomous vehicles require detailed understanding regarding the physical world around them, which can be achieved using 4D LiDAR. The adoption of 4D LiDAR would help in gaining a high level of automation in self-driving cars, robots, and other autonomous systems.

Based on installation type, ground-based LiDAR to be the fastest-growing installation type between 2019 and 2024

Ground-based LiDAR scanning technology is widely used across a wide range of applications, such as mapping, engineering, environment, and meteorology. Ground-based LiDAR systems are either stationary or movable and are further segmented into static LiDAR and mobile LiDAR. Ground-based LiDAR is typically mounted on a tripod or placed on a moving platform, for example, vehicles. These systems are less costly as compared to airborne-LiDAR systems.

Based on application, ADAS & driverless cars to be the fastest-growing application between 2019 and 2024

The automotive industry is looking forward to autonomous vehicles and assisted technologies. Automotive companies are coming up with innovative technologies in advanced driver assistance systems (ADAS) using new and affordable sensors. Rising adoption of solid-state LiDAR in ADAS and driverless cars for assuring safety is expected to boost the market in the coming years. Moreover, automotive giants are adopting LiDAR systems for their L3 level vehicles, which is expected to have a positive impact on the sales of these vehicle types.

APAC LiDAR market to record highest growth rate during forecast period

The LiDAR market in the APAC region is expected to grow at the highest CAGR during the forecast period. The growth of this market can be attributed to the increase in surveying and mapping operations due to increasing infrastructural development, focus on forest management, and mining activities in the region. The increasing applications of airborne and ground-based LiDAR systems and the growing number of surveying and mapping activities in the region are anticipated to drive the demand for LiDAR in APAC.

Key Benefits of Buying the Report

Key Topics Covered:

1 Introduction

1.1 Study Objectives

1.3 Study Scope

1.4 Currency

1.5 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Size Estimation

2.3 Research Assumptions

2.3.1 Limitations/Assumptions

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in LiDAR Market

4.2 Market, By Application and Country

4.3 Country-Wise Market Growth Rate

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

6 LiDAR Market, By Technology

6.1 Introduction

6.2 2D LiDAR

6.3 3D LiDAR

6.4 4D LiDAR

7 LiDAR Market, By Component

7.1 Introduction

7.2 Laser Scanners

7.3 Navigation and Positioning Systems

7.4 GPS

7.5 IMU

7.6 Others

8 LiDAR Market, By Type

8.1 Introduction

8.2 Mechanical

8.3 Solid-State

9 LiDAR Market, By Installation Type

9.1 Introduction

9.2 Ground-Based LiDAR

9.3 Airborne LiDAR

10 LiDAR Market, By Range

10.1 Introduction

10.2 Short

10.3 Medium

10.4 Long

11 LiDAR Market, By Service

11.1 Introduction

11.2 LiDAR Data Processing

11.3 Aerial Surveying

11.4 Asset Management

11.5 Gis Services

11.6 Ground-Based Surveying

11.7 Other Services

12 LiDAR Market, By Application

12.1 Introduction

12.2 Corridor Mapping

12.3 Engineering

12.4 Environment

12.5 Adas & Driverless Cars

12.6 Exploration

12.6.1 Oil & Gas

12.7 Urban Planning

12.8 Cartography

12.9 Meteorology

12.10 Other Applications

13 LiDAR Market, By Region

13.1 Introduction

13.2 North America

13.3 Europe

13.4 APAC

13.5 Rest of the World

14 Competitive Landscape

14.1 Overview

14.2 Market Ranking Analysis

14.3 Competitive Leadership Mapping

15 Company Profiles

15.1 Introduction

15.2 Key Players

15.2.1 Teledyne Technologies

15.2.2 Hexagon

15.2.3 Trimble

15.2.4 FARO

15.2.5 RIEGL

15.2.6 SICK AG

15.2.7 Quantum Spatial

15.2.8 Beijing Beiketian Technology Co., Ltd. (Surestar)

15.2.9 Velodyne LiDAR

15.2.10 YellowScan

15.3 Right to Win

15.4 Other Key Players

15.4.1 Geokno

15.4.2 Phoenix LiDAR

15.4.3 Leddartech

15.4.4 Quanergy Systems

15.4.5 Innoviz Technologies

15.4.6 Leosphere

15.4.7 Waymo LLC

15.4.8 Valeo S.A.

15.4.9 Neptec Technologies

15.4.10 Ouster

15.4.11 ZX LiDARs

For more information about this report visit https://www.researchandmarkets.com/r/6zy24

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PUB: 11/28/2019 05:53 AM/DISC: 11/28/2019 05:53 AM

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