Growth Drivers for LiDAR Market: Report 2021-2027 Analysis based on Competitive Landscape

Global LiDAR market is projected to reach USD 4.1 Bn by 2027 with a growing CAGR of 20.7% during the forecast period (2021-2027)

The leading LiDAR market vendors are increasingly investing in Advanced Driver-Assistance Systems (ADAS) and driverless cars and thus creating new opportunities for small, versatile, and low-cost LiDAR systems. For instance, in October 2021, Kyocera Corporation, a Japanese multinational ceramic, and electronics manufacturer announced a set of innovations for Advanced Driver-Assistance Systems (ADAS) technology. Kyocera is developing a combination of cameras and LiDAR systems that apply convergence, miniaturization, and solid-state conversion for multifunctional sensors that can simplify ADAS design and help contain processing requirements. The increasing investments and innovations in the field of LiDAR systems are propelling the global LiDAR market growth throughout the forecast period.

Based on installation type, the LiDAR market is segmented into ground-based LiDAR and airborne LiDAR. Amongst all, the ground-based LiDAR segment is expected to witness significant growth during the forecast period for global LiDAR market analysis. Ground-based LiDARs are generally utilized to scan outcrops, rocky slopes, and hillsides among other geographical formations. The ground-based LiDARs are useful tools considering the advantages provided such as cost-cutting, manpower cutting, and safety, and therefore the usage of ground-based LiDAR has increased specifically in the geological and archaeological sectors. 

Based on the applications, the global LiDAR market has been categorized into the environment, urban planning, meteorology, corridor mapping, engineering, exploration, cartography, ADAS & driverless cars, and others. The environment application held the majority of LiDAR market size in the year 2020 owing to increasing focus on the analysis of the environmental plane to predict and prevent natural calamities such as landslides. LiDAR systems are commonly used in the monitoring and surveying of environmental resources and thus driving the global LiDAR market.

Global LiDAR Market by Region Outlook (Revenue, USD Billion, 2021-2027)

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

In terms of geography, the North American region held the largest market shares in the year 2020 and is estimated to witness significant growth owing to the surging investments by the key LiDAR market vendors present across the continent such as Google Inc., Apple Inc., and General Motors, among others. Additionally, the United States military and civil government are reportedly increasing their operations with the application of Unmanned Aerial Systems (UAS) or referred to as drones. Federal Aviation Administration (FAA) has established six UAS test sites and centers of excellence for unmanned aircraft systems, which has created opportunities for LiDAR to expand into the industry.

The Global LiDAR Market Segmentation:

  • By Type Outlook (Revenue, USD Billion, 2021-2027)
    • Aerial
    • Terrestrial
    • Short-range
    • Mobile
  • By Installation Type Outlook (Revenue, USD Billion, 2021-2027)
    • Ground-based LiDAR
    • Airborne LiDAR
  • By Component Outlook (Revenue, USD Billion, 2021-2027)
    • Laser Scanner
    • Global Positioning System (GPS)
    • Inertial Measurement Unit
    • Others
  • By Technology Outlook (Revenue, USD Billion, 2021-2027)
    • 2D LiDAR
    • 3D LiDAR
    • 4D LiDAR
  • By Application Outlook (Revenue, USD Billion, 2021-2027)
    • Environment
    • Urban planning
    • Meteorology
    • Corridor mapping
    • Engineering
    • Exploration
    • Cartography
    • ADAS & driverless cars
    • Others
  • By End-User Industry Outlook (Revenue, USD Billion, 2021-2027)
    • Forestry & Agriculture
    • Civil Engineering
    • Mining and Transportation.
    • Defense & Aerospace 
    • Archaeology 

Key Findings:

  • Based on type, the aerial segment is estimated to dominate the market shares for global LiDAR market during forecast period
  • Based on installation type, the ground-based LiDAR segment is holding the majority shares in 2020
  • Based on the component, the Global Positioning System (GPS) segment held the largest market share in 2020 for global LiDAR market
  • Based on technology, 4D LiDAR accounted for the largest market share in 2020
  • Based on applications, the environment sector is holding a massive market segment in 2020 followed by engineering sector
  • Based on end user industry, the defence and aerospace industry is estimated to grow with the significant market growth rate
  • Based on regions, the North America region is anticipated to hold a dominant market share in the year 2027 in the LiDAR market analysis

Company Profiles and Competitive Intelligence

The key players operating in the global LiDAR market are:

  1. Google Inc.
  2. Amazon Inc.
  3. International Business Machines Corporation (IBM)
  4. Fitbit Inc.
  5. Samsung Electronics Co. Ltd.
  6. Huawei Technologies Co. Ltd.
  7. Sony Corporation
  8. Garmin Ltd.
  9. TomTom International B.V.
  10. Beijing SureStar Technology Co. Ltd.
  11. Motorola Mobility LLC
  12. Velodyne LiDAR, Inc.
  13. Sick AG
  14. GeoKno
  15. Teledyne Optech 
  16. Yellowscan
  17. Trimble Navigation Limited
  18. LeddarTech Inc.
  19. Innoviz Technologies Ltd.
  20. Vaisala
  21. Phoenix LiDAR Systems
  22. Quanergy Systems, Inc.
  23. Waymo LLC
  25. FARO Technologies, Inc.
  26. GeoSLAM Ltd. (3D Laser Mapping)
  27. RIEGL Laser Measurement Systems GmbH
  28. Aerometric Surveys
  29. Lumibird Canada
  31. Leica Geosystems Holdings AG
  32. Ouster, Inc.
  33. Mira Solutions, Inc
  34. Firmatek, LLC

Recent News:

  • In February 2021, Aurora, an autonomous vehicle company, announced its successful acquisition of OURS Technology, a Silicon Valley VC-backed startup founded by PhDs from UC Berkeley ASPIRE lab. The acquisition is expected to accelerate Aurora’s development to build LiDAR chips to intensify the production of self-driving trucks.
  • In December 2020, Ouster, Inc., provider of high-resolution digital lidar sensors for automotive industries, smart infrastructure, and robotics among others along with Colonnade Acquisition Corp., a special purpose acquisition company announced their merger agreement. The merger is aimed to improve the development and manufacturing Ouster’s high-performance digital lidar sensors to accelerate digital lidar’s adoption and rapid scale across end user markets.

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