LiDAR Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Terrestrial LiDAR, Aerial LiDAR, Mobile LiDAR, Short Range LiDAR), By Component (Laser, Inertial Navigation System, GPS Global Navigation Satellite System, Micro Electro Mechanical System), By Application (Corridor Mapping, Seismology, Exploration and Detection & Others), By End User (Civil Engineering, Archaeology, Forestry and Agriculture, Mining, Transportation, Defence and Aerospace & Others), and Region Forecast 2019-2030

LiDAR Market size was valued US$ 1,892.5 million in 2023 and is projected to reach value of US$ 3,481.8 million by 2030, at a CAGR of 9.1% from 2024-2030. The LiDAR (Light Detection and Ranging) market is a remote sensing technology that uses laser pulses to create high-resolution 3D models of the Earth's surface. It's used in a variety of industries, including automotive, aerospace, defence, healthcare, agriculture, and environmental monitoring.

The key growth factors of the market are rising adoption of autonomous technologies and 3D imaging technologies, demand for accurate data. However, the key restraints of the market are high costs, technical challenges. However, the market presents several opportunities for growth such as development of smart cities and infrastructure projects. The emerging trends of the market are miniaturization of LiDAR systems, expansion in environmental monitoring. 

Key Players

The leading companies highlighted in the leak detection market report include such as Faro Technologies, Inc. offers FARO Laser Scanner which is portable 3D laser scanners that capture detailed 3D data of objects and environments ; Leica Geosystem Holdings AG they offer a range of advanced LiDAR solutions such as Leica Geosystems Hx20 a high-accuracy terrestrial laser scanner for detailed 3D data capture ; Teledyne Optech Incorporated is a leading company known for its advanced survey instruments for airborne, mobile, and terrestrial mapping ; Trimble Navigation Limited offers Trimble UX5 a UAV-based LiDAR system designed for high-precision mapping and surveying and other key players are RIEGL USA, Inc., Quantum Spatial, Inc., Velodyne LiDAR, Inc., GeoDigital. Also, a comprehensive analysis of industry verticals and market participants that provides a clear overview of the competitive landscape in relation to the sectors served by the company’s products and services, market share, service offerings, financial reports, significant developments, market strategy, competitive position, and geographic reach.

Key Takeaways

• North America market is the dominant market in 2023.
• The Asia Pacific market is expected to expand at highest CAGR from 2024 to 2030.
• Based on product type, the aerial LiDAR segment dominated the market in 2023.
• Based on component, the GPS global navigation satellite system has captured the highest market share in 2023.
• Based on application, the exploration and detection segment holds the largest market share in 2023.
• Based on end user, the transportation segment has expected to dominate the cocoa products market in coming forecast years.

Facts & Figures

• In September 2021, Tower Semiconductor, an Israeli integrated circuit manufacturer, announced a breakthrough in LiDAR technologies for Advanced Driver Assistance Systems (ADAS) by developing LiDAR IC technology.
• In July 2023, Trimble launched a new cloud-based version of its log inventory and management system for forestry to manage the purchase of sawmill raw materials.
• Apple has integrated LiDAR technology into its mobile phones, such as the iPhone 15 pro, iPhone 14 pro, iPhone 14 pro max, iPhone 13 pro max, this technology helps apple phone create 3D representation of  the region around them upto 5 meters.

Key Developments

In December 2019, Pepperl+Fuchs introduced the R2300 multi-layer scanner, which used LiDAR laser technology to provide high measurement density. This initiative has further broadened the growth opportunity for the LiDAR industry.

LiDAR Market Segmentation

By Product Type: Among all the product types, aerial LiDAR is the most widely used in the market. This is primarily because it can cover large areas quickly and efficiently, making it ideal for applications such as topographic mapping, environmental monitoring, and infrastructure development

By Component: Among all the components, GPS (Global Navigation Satellite System) is the most widely used in LiDAR systems. GPS provides accurate geolocation data, which is crucial for mapping and surveying applications that rely on LiDAR technology.

By Application: Among the applications, exploration and detection is the most widely used application of LiDAR technology, as LiDAR provides highly accurate and detailed 3D data, which is essential for identifying and mapping geological features, mineral deposits, and other subsurface structures.

By End User: Among these, transportation is the most widely used application in the market. LiDAR technology is crucial for the development and operation of autonomous vehicles, providing real-time 3D mapping and navigation capabilities that ensure safety and efficiency.