Winners of the fast-growing global LiDAR market

Light Detection and Ranging (LiDAR) is a remote sensing technology that measures scattered light (laser) to find information and the range of a distant target.?

According to the Research and Markets report, the global LiDAR market is estimated to be USD 1.1 billion in 2020 and is projected to reach USD 2.2billion at a projected CAGR of 15.4% during the forecast period from 2020 to 2025.

The growing demand for 3D imagery in various end-use sectors such as navigation devices， ADAS， corridor mapping, seismology, security & surveillance is the major factor driving the LiDAR market globally.

In 2019, the application of smart city and mapping accounted for about 60% of the lidar market.?

However, by 2025, the application of advanced driver assistance systems (ADAS) and unmanned aerial vehicles(UAVs) will account for 34.64% and 26.30% of the total lidar market respectively, especially the passenger vehicle front-mounted lidar segment will contribute 61% to the overall market growth.

Mechanical LiDAR type to account for the largest share of the market during the forecast period.

The mechanical segment held the highest market share in 2020, accounting for more than half of the global 3D LiDAR sensor market, and is estimated to maintain its leadership status throughout the forecast period.?

?The solid-state segment is projected to manifest the highest CAGR of 15.6% from 2021 to 2030, owing to a rise in investment by key players in the solid-state 3D LiDAR sensor technology.

Ground-based LiDAR is projected to witness the highest CAGR for the forecast period.

In 2020, the ground-based LiDAR accounted for a larger market share of the overall LiDAR market and is projected to witness a high CAGR from 2021 to 2026. Ground-based LiDAR systems are either stationary or movable. They are placed on a moving platform such as a sports utility vehicle (SUV) or an all-terrain vehicle (ATV) with the help of a tripod and balancing assembly.

Ground-based LiDAR systems are less expensive than airborne LiDAR systems

Mobile ground-based LiDAR systems are mounted on a mobile platform, preferably a terrestrial vehicle. The advantage of being mounted on a vehicle is that it enables the LiDAR to scan large areas accessible by road. The automotive sector is emerging as an application area for mobile ground-based LiDAR systems, and the number of premium cars equipped with advanced driver assistance systems (ADAS) is rising every year. This is expected further to boost the market for mobile ground-based LiDAR systems.

APAC is attributed to growing at the highest CAGR in the LiDAR market during the forecast period (2021-2026)

North America held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global 3D LiDAR sensor market. This is due to an increase in LiDAR applications in the defense and industrial sectors.?

The Asia-Pacific region is expected to witness the fastest CAGR of 16.00% from 2021 to 2030. This is because the governments of varied sectors of Asia-Pacific countries are taking essential efforts to make use of 3D LiDAR sensor systems in different applications such as city modeling, corridor mapping, railway & roadway analysis, and airport planning.

China, India, and Japan are expected to be the major markets in the region, as developed countries are expected to increasingly outsource their LiDAR mapping and surveying services to these countries in the near future.

Data quoted from

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