LiDAR Market : Industry Trends and Trends 2024

1
MarketsandMarkets Presents
LiDAR Market by Type (Mechanical, Solid-state),
Installation Type, Service (Aerial Surveying, GIS
services), Application (Corridor Mapping,
Environment, Engineering, ADAS Driverless
Cars), Component, Range, and Geography - Global
Forecast to 2024 The LiDAR Market size is
projected to reach USD 2,273 million by 2024 from
an estimated USD 844 million in 2019, at a CAGR
of 18.5 from 2019 to 2024.
2
MarketsandMarkets Presents
Rising adoption of LiDAR systems in UAVs,
engineering, and construction applications
increasing use of LiDAR in geographical
information systems (GIS) applications and
emergence of 4D LiDAR are the major factors
driving the growth of the LiDAR market. Download
PDF Brochure _at_ https//www.marketsandmarkets.com/
pdfdownloadNew.asp?id1261 Increasing
investments in LiDAR startups by automotive
giants opportunities for SWIR-based design in
the long term technological shifts with the
adoption of solid-state, MEMS, flash LiDAR, and
other LiDAR technologies and development of
better geospatial solutions using sensor fusion
present growth opportunities for the LiDAR
market.
3
MarketsandMarkets Presents
By type, solid-state LiDAR is projected to
register higher CAGR between 2019 and 2024 The
higher CAGR of the market for solid-state LiDAR
is attributed to the increasing range of
applications of this LiDAR type in the automotive
and robotics industries. Traditional LiDAR
systems rely on mechanical moving parts that have
to be precise to obtain the accurate measurements
required for autonomous navigation.
4
MarketsandMarkets Presents
By installation type, ground-based LiDAR is
projected to register higher CAGR between 2019
and 2024 Ground-based LiDAR systems are either
stationary or movable. They are placed on moving
platforms such as sports utility vehicles (SUVs)
or all-terrain vehicles (ATVs) with the help of a
tripod and balancing assembly
5
MarketsandMarkets Presents
Some of the key players in the LiDAR
market. Teledyne Technologies (US), Hexagon
(Sweden), Trimble (US), FARO (US), RIEGL
(Austria), SICK AG (Germany), Quantum Spatial
(US), Beijing Beiketian Technology Co., Ltd.
(China), Velodyne Lidar (US), and YellowScan
(France)
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MarketsandMarkets Presents
By range, medium range projected to register
highest CAGR between 2019 and 2024 Medium-range
LiDAR is used to detect objects in the range of
200500 m. This LiDAR is used in engineering,
mapping, environment, and exploration
applications. Medium-range LiDAR is used where
precision and cost-effectiveness are the primary
concerns. These LIDAR sensors are used to provide
2D and 3D real-time data to easily identify
objects within the range of 200500 m. The market
for medium-range LIDAR is expected to grow at the
highest rate, driven by the use of medium-range
LiDAR in engineering and construction
applications.
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MarketsandMarkets Presents
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8
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