LiDAR Market
LiDAR Market Study by Laser LiDAR Scanners and Navigation & Positioning Systems for Aerial Surveying, Asset Management, GIS Services, and Ground-based Surveying from 2024 to 2034
Analysis of LiDAR Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
LiDAR Market Outlook (2024 to 2034)
Increasing infrastructure projects and the development of smart cities are set to positively impact worldwide demand for LiDAR systems. The global LiDAR market is expected to reach US$ 2.4 billion in 2024 and further expand at a CAGR of 11.6% to climb to US$ 7.1 billion by the end of 2034.
LiDAR technology plays a vital role in the planning, development, and management of smart cities. This technology is utilized in urban planning to create highly detailed 3D maps. In addition, the same technology assists city planners plan new developments, visualize existing structures, and optimize land use. LiDAR technology monitors critical infrastructure, including roads, bridges, buildings, etc. to ensure the creation of more accurate models while assessing structural maintenance requirements.
Smart cities are anticipated to leverage LiDAR technology for resilience planning and disaster response. This technology enables the development of detailed terrain models crucial for the impact assessment of natural disasters and accordingly, the planning of emergency responses. In environmental monitoring initiatives, this technology is supported by offering accurate 3D data for tracking vegetation health, mapping green spaces, and assessing air quality.
- Demand for LiDAR systems in South Korea is forecasted to increase at a CAGR of 12.4% from 2024 to 2034.
- East Asia is anticipated to account for a 23.1% share of the global market by 2034.
- 3D LiDAR technology-based systems are projected to hold 64% of global market revenue share by the end of 2034.
LiDAR technology offers detailed 3D data for terrain assessment and planning the placement of respective utility infrastructure in the development of smart grids. This is anticipated to effectively support energy distribution. Requirements for LiDAR technology in smart cities are attributed to their concentration on the development of more sustainable, efficient, and technologically advanced facilities.
| Report Attributes | Details |
|---|---|
| LiDAR Market Size (2024E) | US$ 2.4 Billion |
| Forecasted Market Value (2034F) | US$ 7.1 Billion |
| Global Market Growth Rate (2024 to 2034) | 11.6% CAGR |
| Market Share of Laser LiDAR Scanners (2024E) | 72% |
| North America Market Share (2034F) | 24.3% |
| Japan Market Growth Rate (2024 to 2034) | 12.1% CAGR |
| Key Companies Profiled |
|
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Why are LiDAR Systems Gaining So Much Prominence?
“Growing Popularity of Autonomous Vehicles”
LiDAR sensors have been proven accurate in various autonomous driving technologies and, subsequently are deployed in the automotive industry. Moreover, increasing expenditures in the development of numerous autonomous driving technologies are projected to stimulate the demand for LiDAR sensors and scanners in multiple automotive applications in the coming 10 years.
Prices of LiDAR systems are projected to reduce with constant development and advancements, which is anticipated to stimulate their demand in multiple applications, such as autonomous vehicles, etc. Numerous market players are concentrating on minimizing LiDAR technology costs to lead to its increased adoption.
What is Adversely Impacting LiDAR Market Growth?
“Comparatively High Deployment Costs”
LiDAR technology is a comparatively new one in the world. Therefore, the deployment and research on this technology are expected to become a bit expensive, which is anticipated to adversely impact market dynamics in the coming decade.
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What is the Contribution of Startups in Shaping This Business Space?
“Rising Concentration of Startups on Automotive LiDAR Technologies”
The global market has been governed by multiple applications across numerous industry verticals. Among these, the automotive LiDAR application is projected to contribute more to market growth potential. Sensors based on LiDAR technology are becoming more popular in autonomous vehicle systems and technologies, which is stimulating startups to concentrate on the global market.
- Vueron Technology is a startup based on LiDAR technology. In June 2022, the company started concentrating on autonomous vehicles in South Korea. It obtained an autonomous vehicle permit with the use of a LiDAR sensor. This is estimated to make LiDAR sensors a bit more affordable, which is otherwise a key challenge for players.
These innovations are anticipated to be one of the key focus areas of startups around the world and thus have a positive impact on market growth.
Country-wise Insights
North America is expected to contribute 24.3% share of the global market by 2034, as mentioned in the research report recently updated by Fact.MR, a market research and competitive intelligence provider. LiDAR technologies have been adopted in the region early. In addition, their growing use in autonomous vehicles is projected to contribute to market dynamics.
How is the United States Market Forecasted to Perform Going Forward?
“Presence of Key Market Players and Involvement in R&D Activities for Autonomous Technologies”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 300 Million |
| Growth Rate (2024 to 2034) | 12.1% CAGR |
| Projected Value (2034F) | US$ 940 Million |
The United States is estimated to account for 45.6% share of the market in North America by the end of 2034. Early adoption of LiDAR technology along with growing requirements for autonomous vehicles are positively influencing market expansion. In addition, the presence of some prominent automotive manufacturers is also estimated to positively influence LiDAR market trends. Moreover, growing expenditures in R&D activities related to autonomous technologies are also enhancing the demand for LiDAR scanners and sensors in the country. LiDAR drones are used for mapping purposes in agricultural and defense applications and aerial surveillance.
What Makes China a Profitable Market for Suppliers of LiDAR Systems?
“Focus on Agricultural Management and Rising Activities in Mining Sector”
| Attribute | China |
|---|---|
| Market Value (2024E) | US$ 300 Million |
| Growth Rate (2024 to 2034) | 11.6% CAGR |
| Projected Value (2034F) | US$ 900 Million |
China is projected to account for a 47.5% share of the East Asian market by the end of 2034. The growth of the market in the country is attributed to the increasing concentration on agricultural management and rising mining activities. In addition, a growing concentration on agricultural management solutions is also expected to contribute to the expanding LiDAR market size in China.
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Category-wise Insights
Among various other functional areas, increased demand for LiDAR technology is encountered for corridor mapping applications. Integration of advanced map-enabled systems is projected to widen their application scope. They assist in lane departure warning systems, driver assistance systems, etc.
Why are Laser LiDAR Scanners Widely Utilized?
“Comparatively Economic Prices of Laser LiDAR Scanners”
| Attribute | Laser LiDAR Scanners |
|---|---|
| Segment Value (2024E) | US$ 1.7 Billion |
| Growth Rate (2024 to 2034) | 11% CAGR |
| Projected Value (2034F) | US$ 4.8 Billion |
Laser scanners are forecast to contribute 68% of the LiDAR market share by the end of 2034. Increased demand for these scanners in mapping operations and aerial scanning is because of their improved efficiency in offering required information. They are utilized for recording intensified values for offering a return signal, which is expected to assist in distinguishing objects of different reflectivity.
LiDAR scanners generate 2D point cloud data, which is used in mapping, localization, and environment & object modeling. Moreover, a reduced price of laser technology is estimated to lead to the rising use of 3D scanning technology in numerous applications.
Which Technology of LiDAR Systems Will Bring in High Revenue Streams?
“Rising Use of 3D Technology in LiDAR Systems”
| Attribute | 3D LiDAR |
|---|---|
| Segment Value (2024E) | US$ 1.6 Billion |
| Growth Rate (2024 to 2034) | 10.9% CAGR |
| Projected Value (2034F) | US$ 4.5 Billion |
3D technology-based LiDAR systems are poised to enjoy a share of 64% of global market revenue by the end of 2034. The increasing use of 3D imagery in several application areas, including topographic surveying, military & defense, corridor mapping, and civil engineering is generating demand for respective LiDAR technology. Thus, the extensive use of 3D technology for LiDAR is anticipated to have a positive impact on market growth.
Competitive Landscape
Leading market players are concentrating on new product launches to improve their potential for revenue generation and enhance their business scope.
For instance :
- Toshiba is a multinational organization from Japan. In June 2022, the company revealed its new advancements in LiDAR technology. This newly launched laser projector unit is equipped with an increased detection range of about 300 meters. This is further projected to increase the application scope of LiDAR units across multiple industry verticals.
Key players in the LiDAR industry are Beijing Beike Technology Co. Ltd., Leica Geosystems AG, Quantum Spatial (Aerometric Inc.), FARO Technologies Inc., Geokno India Pvt. Ltd., RIEGL Laser Measurement Systems GmbH, YellowScan, Trimble Inc., Velodyne Lidar Inc., and Teledyne Optech Inc.
Segmentation of LiDAR Market Research
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By Product Type :
- Solid-state LiDAR
- Mechanical LiDAR
-
By Technology :
- 2D
- 3D
- 4D
-
By Component :
- Laser LiDAR Scanners
- Navigation & Positioning Systems
- Others
-
By Installation Type :
- Airborne
- Ground-based
-
By Range :
- Short LiDAR
- Medium LiDAR
- Long LiDAR
-
By Service :
- Aerial Surveying
- Asset Management
- GIS Services
- Ground-based Surveying
- Others
-
By End-use Application :
- Corridor Mapping
- Engineering
- Environment
- ADAS & Driverless Cars
- Exploration
- Urban Planning
- Cartography
- Meteorology
- Other End-use Applications
-
By Region :
- North America
- Europe
- East Asia
- Latin America
- Middle East & Africa
- South Asia & Oceania
- FAQs -
How big is the LiDAR market size in 2024?
The global LiDAR market has been valued at US$ 2.4 billion in 2024.
What are the sales projections for LiDAR systems for 2034?
Worldwide sales of LiDAR systems are projected to reach US$ 7.1 billion by the end of 2034.
What is the forecasted growth rate for the global market?
The market for LiDAR technologies is forecasted to expand at a CAGR of 11.6% from 2024 to 2034.
How much share of the global market is East Asia estimated to account for?
East Asia is approximated to hold 23.1% share of global market revenue by the end of 2034.
At what rate is the demand for LiDAR systems expected to increase in South Korea?
The market in South Korea is evaluated to increase at a CAGR of 12.4% from 2024 to 2034.
What is the contribution of 3D technology-based LiDAR systems to global market revenue?
3D technology-based LiDAR systems are forecasted to account for 64% share of the global market by 2034.
What is LiDAR technology Used for?
LiDAR is utilized in multiple land planning and management efforts, such as hazard assessment, agriculture, forestry, mapping, watershed, and geologic mapping.
LiDAR Market
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