LiDAR Market | Leading Segments, Trends, Drivers and Challenges
Detailed Market Segmentation by Product, Application, and Region

The LiDAR market is expected to grow by $ 1.57 billion, accelerating at a CAGR of almost 15.20% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.

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LiDAR Market: Market Segments and Growth Forecasts

This research report will provide insights into the current market share of each segment along with growth projections for the next five years. 

• Market is segmented Product (Airborne LiDAR and Terrestrial LiDAR), Application (Corridor mapping, Engineering, ADAS and driverless cars, Environment, and Others), and Geography (North America, Europe, APAC, MEA, and South America). 
• 39% of the market growth will originate from North America during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the LiDAR Market size. 

LiDAR Market: Trends, Drivers, Challenges
The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.

• Expanding application areas of LiDAR technology will be a significant factor in driving the growth of the LiDAR Market.
• Increased adoption of LiDAR in automotive applications will be instrumental in driving the market growth during the forecast period.
• High cost of LiDAR sensors is a hurdle that needs to be crossed on the path to success.

LiDAR Market: Vendor Analysis

• The market is fragmented.
• The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
• FARO Technologies Inc., GeoSLAM Ltd., Hexagon AB, LeddarTech Inc., Quanergy Systems Inc., Robert Bosch GmbH, SICK AG, Teledyne Technologies Inc., Trimble Inc., and Velodyne LiDAR Inc. are some of the major market participants.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with impact analysis of government regulations.

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market will accelerate at a CAGR of over 15.20%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by $ 1.57 bn through 2021-2025.
    
3. What is a key factor driving this market?
   Expanding application areas of LiDAR technology will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   North America, Europe, APAC, MEA, and South America are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   39% growth will originate from North America
    
6. Who are the leading market vendors?
   The leading vendors in this market are FARO Technologies Inc., GeoSLAM Ltd., Hexagon AB, LeddarTech Inc., Quanergy Systems Inc., Robert Bosch GmbH, SICK AG, Teledyne Technologies Inc., Trimble Inc., and Velodyne LiDAR Inc.
    
7. What are the market segments covered in this report?
   The market is segmented by Product (Airborne LiDAR and Terrestrial LiDAR), Application (Corridor mapping, Engineering, ADAS and driverless cars, Environment, and Others), and Geography (North America, Europe, APAC, MEA, and South America)

LiDAR Market Size to Grow by $ 1.57 bn During 2021-2025

Technavio has been monitoring the LiDAR market and it is expected to grow by $ 1.57 bn, accelerating at a CAGR of almost 15% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking

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LiDAR Market: North America to lead market growth during the forecast period

• 39% of the market growth will originate from North America during the forecast period.
• Increased adoption of LiDAR in automotive applications will be a key trend that will influence market growth significantly.
• Expanding application areas of LiDAR technology will be a significant factor in driving the growth of the LiDAR market.

For more insights on this market: Download a Free Sample Report

LiDAR Market: Key Highlights of the Report for 2021-2025

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive LiDAR market growth during the next five years
• Precise estimation of the LiDAR market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the LiDAR market industry across North America, Europe, APAC, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of LiDAR market vendors

The LiDAR market size has the potential to grow by USD 1.57 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 15.20%. 

This report provides a detailed analysis of the market by product (airborne LiDAR and terrestrial LiDAR), application (corridor mapping, engineering, ADAS and driverless cars, environment, and others), geography (APAC, Europe, MEA, North America, and South America), and key vendors. View Free Sample Report

LiDAR Market: Emerging Trends to Impact Market Growth

The increased adoption of LiDAR in automotive applications is identified as one of the significant factors responsible for LiDAR market growth. To adapt to the constantly changing consumer requirements, automotive OEMs are focusing more on technologies that cater to the driverless, autonomous vehicle concept. In addition, non-automotive companies, such as Google and Apple, are investing in autonomous vehicles by leveraging their expertise in artificial intelligence. The move toward autonomous vehicles has resulted in the widescale adoption of advanced technologies in new-generation vehicles. Several vehicle manufacturers are integrating LiDAR technology in their newly launched models. Such an increase in the adoption of LiDAR sensors in automotive applications is expected to drive the global LiDAR market during the forecast period. 

LiDAR Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. FARO Technologies Inc., GeoSLAM Ltd., Hexagon AB, LeddarTech Inc., Quanergy Systems Inc., Robert Bosch GmbH, SICK AG, Teledyne Technologies Inc., Trimble Inc., and Velodyne Lidar Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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