Report Ocean published a new report on the global LiDAR market. The study includes an in-depth analysis of regional trends and market growth in North America, Europe, Asia-Pacific, and Middle East Africa. This study report also examines the challenges that are negatively impacting the industry’s growth and outline a strategy adopted by companies from 2022 to 2030.
The global LiDAR market is expected to reach approximately USD 4158.8 million by 2023, registering a CAGR of 14.14% during the forecast period.
Impact Analysis of COVID-19
Semiconductor companies moved quickly to secure supply chains, protect their employees, and address other urgent concerns after the spread of COVID-19. In spite of seriousness of the situation and the fact that many governments continue to impose physical distance requirements, semiconductor companies are now forward when the pandemic subsides and a new normal begins. As a result of COVID-19, many fundamental aspects of the sector have changed, including customer behavior, business revenue, and various features of corporate operations. Thus, some companies may unable to survive the crisis.
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Light detection and ranging (LiDAR), is a remote sensing method that utilizes laser light in the form of a pulse to measure ranges (variable distances) to the Earth. These light pulses are combined with other data recorded by the airborne system and develop a precise, three-dimensional mapping of the surface of the earth and analysis the surface characteristics. LiDAR typically uses a low-power, eye-safe, pulsing laser working in conjunction with a camera.
The market has been divided into various segments based on product type, technology, component, functional areas, and region.
By product type, the market has been segmented into airborne LiDAR, terrestrial LiDAR, and others. In 2017, airborne LiDAR was the leading segment in the LiDAR market, as they are able to cover a large geographical area and produce accurate data in a short span; the terrestrial LiDAR segment is expected to be the fastest growing one. Terrestrial LiDAR systems can gather significant amounts of data with highly accurate points, which enables the precise identification of objects. The others segment includes Topographic LiDAR, Bathymetric LiDAR, mobile, and static LiDAR. These LiDAR are forms of Airborne and Terrestrial segment. These LiDAR systems have a number of functions, for instance, Topographic LIDAR systems are used to extract surface models for applications such as forestry, hydrology, geomorphology, urban planning, landscape ecology, and coastal engineering. The bathymetric LiDAR systems are used to gather elevated and water depth simultaneously, which offers an airborne LiDAR survey of the land-water interface.
By technology, the market has been classified into 1D, 2D, and 3D LiDAR sensors. 1 Dimensional (1D) LiDAR sensors are rarely utilized in the LiDAR sensors market and are used at a smaller scale and are used in processing techniques for preprocessing waveforms obtained in airborne laser bathymetry. 2D LiDAR sensors are generally used to operate and perform detection and ranging tasks on land surfaces. 2D LiDAR sensors are also operated with consistent reliability and accuracy in terms of the angle of inclination. 3D LiDAR sensors are widely used in the automotive sector, ideally for collision protection or the scanning of objects in self-driven vehicles.
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By component, the market has been divided into laser scanners, navigation & positioning systems, and others. These components enable the user to measure the range of a target with the help of a laser beam. The LiDAR system is one of the remote sensing methods used to map structure including vegetation height, density, and other characteristics across an area. LiDAR uses shorter wavelengths of the electromagnetic spectrum, particularly in the ultraviolet, visible, or near-infrared range and provide accurate results, whereas, its traditional counterpart, radar, uses electromagnetic waves to detect the location and distance of an object.
By functional areas, the market has been divided into engineering, corridor mapping, environment, ADAS & driverless car, urban planning, cartography, and meteorology. In automotive applications, LiDAR systems are installed in an advanced driver assistance system (ADAS) and driverless cars. Other applications of these systems include corridor mapping and urban planning.
The key players of LIDAR Market include Trimble Inc. (US), Faro Technologies Inc. (US), Teledyne Technologies, Inc. (US), Hexagon AB(Sweden), Beike Tianhui Technology Co., Ltd (China), Quantum Spatial (US), RIEGL Laser Measurement Systems GmbH (Austria), YellowScan (France) and Geokno India Pvt. Ltd (India).
Global LIDAR Market Analysis & Forecast, from 2017 to 2023
> To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the LIDAR market
> To provide insights into the factors affecting market growth
> To analyze the LIDAR market based on Porter’s five force analysis
> To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries?North America, Europe, Asia-Pacific, and the rest of the world
> To provide country-level analysis of the market with respect to the current market size and future perspective
> To provide country-level analysis of the market for a segment on the basis of product type, technology, component, functional areas, and region
> To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
> To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the LIDAR market
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> Raw Material and Manufacturing Equipment Suppliers
> Original Equipment Manufacturers (OEMs)
> ODMs and OEMs for Semiconductor Technology Equipment
> Research Organizations
> Organizations, Forums, Alliances, and Associations Based on Technology Standards
> Technology Investors
> Governments, Financial Institutions, and Investment Communities
> The global LIDAR market is expected to reach USD 4158.8 million by 2023.
> By product type, the airborne LiDAR segment dominated the market, generating the highest revenue of USD 722.7 million in 2017, and is expected to grow at 11.76% CAGR during the forecast period. Additionally, the terrestrial LiDAR market segment was valued with USD 701.0 million in 2017 and is projected to reach USD 1693.4 million with 15.99% CAGR by 2023.
> By technology, the 2D segment dominated the market, generating the highest revenue of USD 761.4 million in 2017 and is expected to grow at a significantly, exhibiting a 14.63% CAGR.
> By component, the laser scanner segment dominated the Global LiDAR market with a market share of 38% in 2017 and is expected to grow at USD 1,678.1 million with CAGR of 15.06% from 2018 to 2023. Additionally, the navigation & positioning market segment was valued at USD 682.9 million in 2017 and is anticipated to reach the market value USD 1,514.9 million with CAGR of 14.31% by 2023.
> By functional areas, the corridor mapping segment is dominated Global LiDAR market, with a market share of 24% in 2017, and is expected to grow at USD 973.7 million with CAGR of 13.43% from 2018 to 2023. Additionally, the ADAS & driverless segment was valued at USD 300.5 million in 2017 and is anticipated to reach the market value USD 764.6 million with CAGR of 16.98% by 2023.
> Geographically, North America has been projected to hold the largest market share in the global LiDAR Market, followed by Asia-Pacific.
Regional and Country Analysis of LIDAR Market Estimation and Forecast
Geographically, North America is dominating the LiDAR market due to the rising demand for 3D imaging technology in the US, Canada, and Mexico for research and development purposes. Also, the increased adoption of LiDAR in government agencies is further expected to fuel market growth. Asia-Pacific is the fastest growing market, accounting for a 17.06% share of the overall market where major contribution is witnessed from China, Japan, and South Korea which are the largest electronics manufacturing economies.
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The report on the global LiDAR Market also covers the following country-level analysis:
> North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
> Rest of the World
o Latin America
o Middle East & Africa
Table of Content:
- Market Definition and Overview
- Research Method and Logic
- Market Competition Analysis
- Product and Service Analysis
- Strategies for Company to Deal with the Impact of COVID-19
- Market Segment by Type, Historical Data and Market Forecasts
- Market Segment by Application, Historical Data and Market Forecasts
- Market by by Region, Historical Data and Market Forecasts
- Market Dynamic Analysis and Development Suggestions
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Aim of the Report
- This study aims to determine the market size of various segments and countries with forecast values for next ten years.
- Within the regions and countries studied, the report covers both qualitative and quantitative aspects of the industry.
- It also provides detailed information about the crucial aspects such as drivers & challenges that will influence the market’s future growth.
- The report will also include investment opportunities in micro markets for stakeholders. In addition, an in-depth analysis of key players’ products and the competitive landscape.
The following customization options are available for this report:
> Trends for other verticals including retail’ travel’ and hospitality
> Country-specific trends and market analysis
> Rest of the World (RoW) Region-specific market analysis
> Additional company profiles
Apart from the existing market analysis’ Reportocean can also offer a wide array of custom-tailored studies as per the company’s specific needs.
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