The “LiDAR Market“ segmentation will provide deep growth analysis of the LiDAR industry for identifying the growth opportunities, development trends and factors limiting the growth of the market. This report offers market information based on past and present industry situations and growth aspects. Initially, the report presents the market overview covering product description, market analysis, market dynamics, opportunities and market share.
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Secondly, global LiDAR Market report conducts a qualitative analysis to present the key manufacturer’s profile, market share, market size, sales volume, gross margin analysis. All the key regions covered in report are North America, Europe, Asia-Pacific, South America, Middle East and Africa. The LiDAR market share and market outlook of each region from 2019-2024 are presented in this report.
In 2017, the global LiDAR market was valued at USD 1.69 billion and is projected to reach a value of USD 3.455 billion by 2023, recording a CAGR of 12.66% during 2018-2023 (the forecast period). The scope of this report is limited to solutions that are offered by the major players, including providers of laser scanners, GPS, and IMUs. Also, regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Increasing usage of drones across various applications, such as aerospace and defense, agriculture, and forestry, is a major factor driving the market growth. Moreover, rising investments in R&D of self-driven cars in the automotive sector are expected to positively impact the market. Research indicates that the revenue from the autonomous cars is anticipated to go beyond EUR 10 billion by 2020. LiDAR systems are expected to benefit from this growth, along with other intelligent devices as they are expected to assist in averting accidents. The growth of 3D printing market and the demand for 3D printed images are likely to offer potential opportunities for the LiDAR market. However, average LiDAR systems employed in autonomous cars cost around USD 60,000 to USD 80,000. Thus, relatively high cost of equipment for surveying applications, along with the lack of awareness about LiDAR technology, is challenging the market growth.
Rising Adoption In Government Sector Applications
Governments in different countries are using LiDAR technology for mapping, surveillance, monitoring, and topographical surveys predominantly in mining and oil & gas sectors. Enhanced features and low cost associated with these systems, when compared to conventional alternatives, are making it easily accessible for the government sector. Over the last 17 years, the UK Environmental Agency has been collecting LiDAR data and making it available to archeologists to visualize ancient landscapes. In 2016, in India, the state government of Telangana proposed the use LiDAR in preparation of high-resolution maps for use in various engineering tasks and projects across the state. LiDAR drones can help in creating rescue models, in order to analyze realistic situations and avert it in the situation of natural calamities. Recently, the Netherlands had a similar open-data scan of the country, which was presented in the form of a 3D web visualization. The project is led by TU Delft in collaboration with Netherlands eScience Center.
Increasing Rate Of Adoption Of LiDAR In The Automotive Sector To Drive The Market Growth
Across the globe, the automobile industry is flourishing. It is expected that the total number of vehicles in the world could double, to reach around 2.5 billion by 2050. LiDAR in automobiles are used in to perform functions like mapping, improved and advanced driver-assistance (ADAS), and enable fully self-driving vehicles. The LiDAR systems enable the avoidance of collisions, and thus, support the production and use of ADAS. When compared to traditional sensors, LiDAR functions better in the accurate profiling of static or dynamic objects that are impending over long distances. Also, it is less likely to provide missed or false alerts, making it much safer. With the self-driving cars close to becoming a reality, major giants, like Google, Tesla, and BMW, have started releasing their prototype models. LiDAR would turn cars into machines that are keenly aware of their surroundings, where they can generate accurate 3D snapshots of every object surrounding them. Thus, LiDAR technology quickly being seen as the solution to assisted driving automobiles.
Owing To the Opportunities Offered By Defense and Agriculture Sectors, North America Is Expected To Retain Its Lead
Owing to the increasing investments of business giants in North America, such as General Motors, Google Inc., and Apple Inc., towards ADAS and driverless cars, new opportunities are being offered to small, versatile, and low-cost LiDAR systems. In addition, major companies in the market, such as Trimble, Faro, and Velodyne are based in the United States, which is another major factor, contributing to the large share of North American market. Further, the US defense industry has increased its military and defense spendings, which has created opportunities for LiDARs to proliferate into the industry. The country spends approximately USD 596 billion on defense, which is greater than the combined spending of seven major countries.
The Key Market Players Include:
• Sick AG
• Optech Inc.
• Faro Technology
• Leica Geosystems AG
• Trimble Navigation Limited
• Velodyne LiDAR
Other players in the market include Quantum Spatial, 3D Laser Mapping, Geodigital, Topcon Positioning Systems Inc., Denso, and Riegl Laser Measurement Systems GmbH.
Key Developments in the Market
• November 2017 – Velodyne Labs launched a LiDAR, with the world’s best resolution, longest range, and widest field of view. This factor boosted the autonomous vehicle and advanced safety market. The new Velodyne VLS-128, with 128 laser beams, produced the best resolution and will replace the HDL-64 LiDAR as the industry standard for high performance.
• April 2017 – 3D measurement solutions provider, Faro Technologies had acquired laser scanner manufacturer Nutfield Technology, which aims at expanding its presence in key markets, as well as improve upon its existing product lines.
Reasons to Purchase This Report
• To know what is the Impact of opportunities that are offered by the aerial imaging and increased surveillance needs
• To analyze various market perspectives, with the help of Porter’s five forces analysis.
• Growth of the various hardware products, such as sensors, laser scanners, navigation systems
• To understand the regional analysis of the market.
• To identify the latest developments, market shares, and strategies that are employed by the major market players.
• Three months analyst support, along with the Market Estimate sheet (in excel).
Customization Of The Report
• This report can be customized to meet your requirements.
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LiDAR Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of LiDAR Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
- To define, describe, and analyze the LiDAR market on the basis of product type, application, and region
- To forecast and analyze the size of the LiDAR market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
- To forecast and analyze the LiDAR market at country-level in each region
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the LiDAR market
- To analyze opportunities in the LiDAR market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in LiDAR market report:
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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LiDAR Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Supply and demand
Technological inventions in LiDAR trade
Marketing Channel Development Trend
LiDAR Market Positioning
Distributors/Traders List enclosed in Positioning LiDAR Market
LiDAR Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leader’s revenue forecasts till 2024. In conclusion, LiDAR Market 2019 report presents the descriptive analysis of the LiDAR Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the LiDAR Market competitors.
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