As of 2022, the global LiDAR market stands at a valuation of US$ 1.9 billion and is estimated to surge to US$ 6.29 billion by the end of 2032. LiDAR demand is projected to rise rapidly across the world at a CAGR of 12.6% between 2022 and 2032.
Mobile & UAV LiDAR, terrestrial LiDAR stations, and aerial LiDAR systems are all expected to witness high demand across the forecast period as technology advances and the scope of application increases.
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Competitive Landscape
Key LiDAR companies are focusing on launching new products to enhance their business scope and improve their revenue generation potential.
LiDAR market leaders are also expected to eye mergers and acquisitions to increase their market presence across various geographies.
- In June 2022, Toshiba, a Japanese multinational organization, revealed new advances in its LiDAR (Light Detection and Ranging) unit. The new laser projector unit has now increased the detection range to 300 meters, which is the world’s longest. This is anticipated to increase the scope of application across various industry verticals.
- In March 2022, Luminar, an organization manufacturing vision-based LiDAR and machine perception technologies for autonomous vehicles, announced the acquisition of Freedom Photonics, a high-performance laser manufacturer. The acquisition transaction was all-stock and aimed at bringing low-cost products into the market.
Key Segments Covered in LiDAR Industry Research
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LiDAR Market by Product Type :
- Solid-state LiDAR
- Mechanical LiDAR
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LiDAR Market by Technology :
- 2D LiDAR
- 3D LiDAR
- 4D LiDAR
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LiDAR Market by Component :
- Laser LiDAR Scanners
- Navigation and Positioning Systems
- Others
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LiDAR Market by Installation Type :
- Airborne
- Ground-based
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LiDAR Market by Range :
- Short LiDAR
- Medium LiDAR
- Long LiDAR
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LiDAR Market by Service :
- Aerial Surveying
- Asset Management
- GIS Services
- Ground-based Surveying
- Others
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LiDAR Market by End-use Application :
- Corridor Mapping
- Engineering
- Environment
- ADAS and Driverless Cars
- Exploration
- Urban Planning
- Cartography
- Meteorology
- Other End-use Applications
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LiDAR Market by Region :
- North America
- Latin America
- Europe
- APAC
- MEA
