LiDAR Market Predicted to Surpass USD 11.6 Billion by 2032 | Riding on a Strong 22.5% CAGR Wave

LiDAR technology plays a crucial role in the development of autonomous vehicles. LiDAR sensors provide detailed 3D mapping and object detection capabilities, enabling vehicles to navigate and perceive their surroundings. The growing interest in autonomous vehicles was expected to drive the demand for LiDAR systems.


New York, Jan. 17, 2024 (GLOBE NEWSWIRE) -- As per the latest analysis by Market.us, the global LiDAR Market value is expected to total USD 2.3 billion in 2024. Overall, LiDAR demand is projected to increase at 22.5% CAGR throughout the forecast period (2023-2032). Accordingly, the total market valuation is set to reach USD 11.6 billion by 2032.

LiDAR, which stands for Light Detection and Ranging, is a remote sensing technology that measures distance by illuminating a target with a laser and analyzing the reflected light. This technology has become increasingly pivotal in numerous industries due to its precision and versatility. In terms of its market landscape, the LiDAR industry has witnessed substantial growth, driven by advancements in autonomous vehicles, geographic mapping, environmental monitoring, and urban planning.

The LiDAR market is characterized by its diverse applications. In the automotive sector, LiDAR sensors play a crucial role in the development and enhancement of autonomous driving technologies. They provide high-resolution, 3D information about the vehicle's surroundings, crucial for navigation and safety systems. In the field of geospatial technology, LiDAR is employed for creating detailed 3D maps of terrain and built environments, aiding in urban planning and disaster management. Environmental applications include forest management, where LiDAR helps in assessing forest canopy and biomass, and in meteorology for atmospheric monitoring.

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LiDAR Market by Product Type

Key Highlights

  • The global LiDAR market is projected to reach USD 11.6 billion by 2032, exhibiting a remarkable compound annual growth rate (CAGR) of 22.5% from 2023 to 2032.
  • In 2023, the laser scanners segment held a dominant market position due to its crucial role in capturing and measuring distances accurately in LiDAR systems. These scanners are vital for applications such as autonomous driving and robotics.
  • Corridor mapping applications are projected to experience significant growth. LiDAR technology plays a vital role in mapping linear features such as roads, railways, pipelines, and power transmission lines.
  • The automotive segment held a dominant market position in 2023, driven by the increasing demand for safety and autonomous driving functionalities. LiDAR technology enhances the safety and reliability of autonomous vehicles.
  • North America is expected to account for 40% of the market during its projected lifespan, with the Asia Pacific market experiencing rapid growth.
  • Key players in the LiDAR market include Leica Geosystems Holdings AG, Faro Technologies Inc., Beijing SureStar Technology Co. Ltd, Velodyne LiDAR, Inc., Trimble Navigation Limited, Sick AG, GeoDigital, RIEGL USA Inc., Quanergy Systems Inc., Topcon Corp, and other significant companies.

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"LiDAR technology is widely adopted in mapping, surveying, and geospatial applications. The demand for high-resolution, accurate 3D data for urban planning, infrastructure development, and environmental monitoring is driving the growth of LiDAR in these sectors. LiDAR enables fast and efficient data collection over large areas, providing detailed information for accurate mapping and analysis." Say Mr. Yogesh Shinde Team Lead (ICT) @ Market.us

Factors Affecting the Growth of the LiDAR Market

  • Technological Advancements: The continuous evolution of LiDAR technology, marked by improvements in range, accuracy, and resolution, significantly impacts market growth. Innovations in solid-state LiDAR and reduction in the size of LiDAR systems enhance their applicability across diverse sectors.
  • Increasing Demand for 3D Imaging and Modeling: The growing need for accurate and detailed 3D imaging and modeling across various industries is driving the demand for LiDAR technology. Industries such as construction, infrastructure development, forestry, agriculture, and urban planning require precise 3D data for accurate measurements, planning, and decision-making. LiDAR's ability to capture high-resolution 3D information quickly and efficiently positions it as a preferred technology for these applications.
  • Rise in Autonomous Vehicles and ADAS: The automotive industry's shift towards autonomous vehicles and advanced driver assistance systems (ADAS) is a significant driver of LiDAR market growth. LiDAR technology plays a crucial role in enabling autonomous vehicles to perceive their surroundings accurately, ensuring safety and reliable navigation. The demand for LiDAR sensors in the automotive sector is expected to increase as autonomous driving technology advances and regulatory requirements for vehicle safety become more stringent.
  • Government Initiatives and Regulations: Government initiatives and regulations promoting the adoption of LiDAR technology have a significant impact on market growth. Governments worldwide are recognizing the potential of LiDAR for various applications, including infrastructure development, environmental monitoring, and disaster management. Supportive policies, funding, and regulations that mandate LiDAR usage in specific sectors or projects can stimulate market growth.
  • Cost Reductions: Initially, high costs associated with LiDAR technology limited its adoption. However, recent advancements have led to a reduction in manufacturing and operational costs, making it more accessible for a wider range of applications.

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Report Segmentation of the Global LiDAR Market

Product Type Analysis

In 2023, the Airborne segment held a dominant market position in the LiDAR market, capturing a significant share. This segment's preeminence can be attributed to its widespread application in topographical surveys, disaster management, and forestry management. Airborne LiDAR, known for its efficiency in covering large areas and its ability to provide high-resolution 3D data, has become indispensable in precision forestry and environmental monitoring. The demand for this technology has been bolstered by its integration in climate change studies and coastal zone mapping, where the ability to capture fine details from a considerable height is crucial.

Component Analysis

In 2023, the Laser Scanners segment held a dominant market position in the LiDAR market, capturing a larger share, a trend attributed to several pivotal factors. Laser Scanners, being the core component of LiDAR systems, are essential for accurately capturing physical world data in the form of 3D point clouds. This segment's prominence stems from the diverse applications of laser scanners across various industries, including autonomous vehicles, geospatial surveying, and construction.

The growth in the Laser Scanners segment can be largely credited to technological advancements that have significantly enhanced their precision, range, and speed. For instance, the development of solid-state laser scanners has revolutionized the market, offering compact, lightweight, and energy-efficient solutions. These advancements have broadened the applicability of laser scanners, particularly in sectors that demand high accuracy and resolution, such as aerospace and defense.

Application Analysis

In 2023, the Corridor Mapping segment held a dominant market position in the LiDAR market, capturing a significant share due to several key factors. Corridor Mapping, primarily used in transportation and urban planning, benefited from the increasing emphasis on infrastructure development worldwide. This segment's growth can be attributed to its critical role in creating accurate, high-resolution maps essential for the planning and maintenance of roadways, railways, and utility networks. The integration of LiDAR technology in Corridor Mapping offers unparalleled precision in terrain and feature mapping, enabling efficient project execution and risk management.

End-user Analysis

In 2023, the Automotive segment held a dominant position in the LiDAR market, capturing a significant market share. This dominance is primarily attributed to the escalating integration of LiDAR in advanced driver-assistance systems (ADAS) and the rapid development of autonomous vehicles. Automotive manufacturers increasingly rely on LiDAR technology for its precision in environmental mapping and obstacle detection, crucial for the safety and efficiency of autonomous driving. The market share of the Automotive sector in the LiDAR industry was bolstered by substantial investments from leading automotive companies and technology firms, signaling a strong commitment to developing autonomous driving technologies.

Key Players Analysis

  • Leica Geosystems Holdings AG
  • Faro Technologies Inc.
  • Beijing SureStar Technology Co. Ltd
  • Velodyne LiDAR, Inc.
  • Trimble Navigation Limited
  • Sick AG
  • GeoDigital
  • RIEGL USA Inc.
  • Quanergy Systems Inc.
  • Topcon Corp
  • Other Key Players

Scope of the Report

Report AttributesDetails
Market Value (2023)US$ 2.0 Billion
Forecast Revenue 2032US$ 11.6 Billion
CAGR (2023 to 2032)22.5%
North America Revenue Share40%
Base Year2023
Historic Period2018 to 2022
Forecast Year2024 to 2033

Key Market Segments

By Product Type

  • Airborne
  • Terrestrial
  • Mobile & UAV

By Component

  • GPS
  • Navigation (IMU)
  • Laser Scanners
  • Other Components

By Application

By End-user

  • Automotive
  • Aerospace & Defense
  • Healthcare
  • IT & Telecom
  • Oil & Gas
  • Other End-users

Regional Analysis

In 2023, North America held a dominant market position in the LiDAR market, capturing more than 40% of the global share. This impressive performance can be attributed to the region's robust technological infrastructure, significant investments in autonomous vehicles, and the growing adoption of advanced mapping technologies. In Europe, the market has been driven by the increasing use of LiDAR in environmental monitoring and topography. The European region's emphasis on sustainable practices has also played a pivotal role in adopting LiDAR technology for forest management and coastal zone mapping.

LiDAR Market by Region

Key Regions and Countries

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
    • Rest of Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • MEA
    • GCC
    • South Africa
    • Israel
    • Rest of MEA

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