Lidar Technology Market Size, Share, Growth and Industry Analysis by Type (Aerial Lidar, Ground-Based Lidar, Mobile Lidar, And UAV Lidar) By Application (Coastal, Transportation, Forestry, Infrastructure, Defence and Aerospace, Transmission Lines, Flood Mapping, Exploration, And Driverless Cars), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Lidar Technology Market REPORT OVERVIEW

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The global lidar technology market size was USD 1700 million in 2022 and market is projected to touch USD 5106.8 million by 2031, exhibiting a CAGR of 13.0% during the forecast period.

Lidar stands for Light Detection and Ranging. This can be described as remote sensing method which makes use of pulsed lasers. These lasers are used for measuring the ranges from earth. The Lidar technology is highly advanced as it can combine the other data recorded from air borne sources. After combining the data, they create a three-dimensional and accurate shapes of the earth.

When this market is considered, it implements many advanced technologies and hence a lot of new trends can be witnessed. Data processing is highly automated. Along with being automated it is also greatly streamlined. This is considered as the latest trend in the market.

From many surveys it has been clear that this technology is much more efficient compared to other methods that are in requirement of more involvement. Accuracy is provided by LiDAR technology accompanied by consistent results. All these factors are generating a robust growth in the market.

COVID-19 impact: Non-Availability of Aero planes for The Functioning Of this Technology Reduced The Market Growth

The pandemic of COVID-19 created a lot of chaos globally. A LiDAR instrument majorly consists of a scanner, laser, as well as a GPS receiver. LiDAR data from overseas is primarily collected with the help and assistance of airplanes as well as helicopters.

Without the aid of airplanes, helicopters or any other air mediums the collection of LiDAR becomes a challenge. During the pandemic the flying of airplanes and helicopters were restricted to a certain level which hampered the market growth. 

LATEST TRENDS

"Major Changes in Terms of Data Processing to Increase the Market Growth"

The major modification that the global LiDAR technology market has witnessed recently is in terms of data processing. Data processing is highly automated. Along with being automated it is also greatly streamlined.

The usage of cloud-based architecture has up levelled the process of collecting the data. QA also known as quality assurance and manual editing is included in the process. This in turn has resulted in faster turnaround time. The versatility also increases between the field and the project. These are some noteworthy trends propelling the global LiDAR technology market.

Lidar Technology Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Aerial  Lidar, Ground-based Lidar, Mobile Lidar, and UAV Lidar. The aerial LiDAR equipment segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Coastal, transportation, forestry, infrastructure, defense and aerospace, transmission  lines, flood mapping, exploration, and driverless cars. The coastal segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Automated Functionality of Lidar Technology to Fasten the Market Growth"

LiDAR technology is very much essential for creating maps that are accurate on the surface of the earth. The pulses, which are integrated in the LiDAR, are sent out in nanoseconds. This technology is implemented in many industries such as land development, mining, construction, surveying and forestry.

This technology comes with a lot of added advantages. LiDAR majorly consists of processes that are automated. Experienced pilots are employed for the purpose of operating the equipment. From many surveys it has been clear that this technology is much more efficient compared to other methods that are in requirement of more involvement. This acts as one of the major driving factors of the global LiDAR technology market.

"Accuracy and Speed of LiDAR Technology to Propel Market Growth "

Accuracy is required when it comes to earth mapping. And this accuracy is provided by LiDAR technology accompanied by consistent results. A few factors have increased the accuracy of this technology.

The short wavelength that is used here is capable of detecting even the smallest of objects. Another factor that adds up to the advantage of LiDAR technology is its immaculate speed. Sometimes inaccessible regions such as hills, mountains, and dense forests cannot be sensed easily. However, this technology is an exception and can easily reach such remote places. When compared to the other models of surveying, LiDAR technology is cost effective taking into consideration the large area covered and the accuracy given. All of these become an added advantage to the market development.

RESTRAINING FACTOR

"Requirement of Highly Trained Staff to Decrease the Market Growth"

Even with the speed, accuracy and efficiency given by LiDAR technology its important to know the disadvantages that can hamper the market growth. One such disadvantage is the experience that is required to operate the LiDAR technology. Previous surveying knowledge becomes important to take check shots, check-in benchmarks and run base stations.

When there is an urgent requirement for man power recruitment it becomes highly challenging to employ people. Setting up a LiDAR shop is highly expensive as it requires large investments, equipments and personnel.

Lidar Technology Market Regional Insights

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"North America to Dominate Market Share in The Upcoming Years"

North America predominantly dominates the market holding over one-fourth of the market share. The main reason for this is the rising adaptation of regulations that have made it compulsory to adopt and install, automotive safety technology in heavyweight and lightweight vehicle region. This requires, the usage of LiDAR technology. Also, the growing opportunities of North America in automotive sector has created due to the adaptation to this technology. The collaboration of LiDAR companies with the companies in North American region has also further propelled the market growth.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Airborne Hydrography (Sweden)
• Applied Imagery (U.S.)
• Zephir LiDAR (U.K.)
• Lesophere (U.S.)
• Avent LiDAR Technology (France)
• Grind GIS (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations