How Big is the LiDAR Market | Growth, Size & Industry Insights 2031

What is the size of LiDAR Market?

LiDAR Market is anticipated to grow in the upcoming years, driven by rising demand for autonomous vehicles, advancements in geospatial mapping technologies, and growing use in infrastructure, agriculture, and defence applications.

Key Growth Drivers of the LiDAR Market

• Surging adoption of LiDAR for autonomous navigation and ADAS systems
• Expansion of smart city and infrastructure development projects
• Enhanced mapping accuracy for environmental monitoring and disaster management
• Reduction of cost and miniaturization of LiDAR sensors for commercial use
• Increasing demand from defence and aerospace for terrain modelling and surveillance

LiDAR Market Trends

LiDAR market is moving forward with increasing shift towards the solid-state and MEMS-based LiDAR for compact and cost-effective applications. One major trend is real-time 3D mapping and point cloud processing, which are becoming more sophisticated with AI integration. Aside from these, LiDAR is increasingly integrated with drones for aerial surveying and agriculture. Further, automotive OEMs are embedding LiDAR into electric and autonomous vehicle designs.

Emerging Developments in the LiDAR Market

LiDAR market is developing over the years as the next-gen LiDAR system which is combination of LiDAR, camera and radar, is leveraging hybrid sensing for more accurate object detection. Cloud-based LiDAR data analytics platforms are on the rise. Green wavelength LiDAR is emerging for bathymetric and coastal mapping. Modular and customizable LiDAR units are gaining popularity in robotics and industrial automation.

List of Leading Companies in the LiDAR Market

Below is a comprehensive list of the leading market players driving growth in this sector:

1.Velodyne Lidar, Inc.

This company is a pioneer in 3D LiDAR sensors for autonomous vehicles, drones, and mapping.

2.Luminar Technologies, Inc.

This company focuses on long-range LiDAR sensors optimized for highway autonomy and automotive safety.

3.Ouster, Inc.

This company offers digital LiDAR with high-resolution imaging for robotics, industrial, and smart city uses.

4.Leica Geosystems AG (Hexagon AB)

This company is one who delivers precise LiDAR mapping and surveying solutions for engineering and infrastructure.

5.Innoviz Technologies Ltd.

This company is one of the newest who provides solid-state LiDAR sensors and perception software for autonomous driving.

6.Teledyne Optech

This company has focused on manufacture of airborne, mobile, and terrestrial LiDAR systems for geospatial applications.

7.Quanergy Systems, Inc.

This company has developed the innovative LiDAR with sensors and perception software for security, transportation, and automation.

8.RIEGL Laser Measurement Systems GmbH

This company is one who produces the high-performance LiDAR systems for airborne, mobile, and industrial scanning

How Big is the LiDAR Market : FAQ's