Global LiDAR Market Report, published by Variant Market Research, forecast that the global market is expected to reach $1636 million by 2024 from $360 million in 2016; growing at a CAGR of 20.8% from 2016 to 2024. By geography, Asia Pacific and RoW are expected to grow at a CAGR of 26.2% and 25.3%, respectively, during the forecast period.
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Major driving factor of the LiDAR market are technological advancements, adoption of LiDAR in various government sectors, increasing use of drones for multiple applications, as usage of laser light provides accurate and precise data in short time. Furthermore, research and development of self-driven cars in automotive sector and growth of 3D printing market are also expected to boost the market growth.
The LiDAR market has been bifurcated into product, component, end-user, application and geography. Product comprises terrestrial, aerial, mobile, and short range. Aerial accounted the highest market share over the forecast period. Component includes laser, Camera, inertial navigation system, GPS/GNSS receiver, and MEMS. Furthermore, application is segmented into Corridor mapping, Seismology, Exploration and Detection and Others. Corridor mapping and exploration and detection held the majority of share with 48.7% and 36.6% respectively in 2016.End-user can be segmented into defense and aerospace, civil engineering, archaeology, forestry and agriculture, mining industry and transportation. Civil engineering and forestry & agriculture held the share of 34.4% and 19.7% respectively in 2016.
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North America, Europe, Asia-Pacific and RoW are covered in the report. Asia-Pacific is the fastest growing region in the LiDAR market, and is expected to continue this trend due to rising product launches and increased low-cost manufacturing activities in the region. North America accounted the largest share of the market with 46% followed by Europe with 32.4%.
The key market players include Hokuyo Automatic Co Ltd., Quanergy, Phoenix Aerial Systems, Velodyne LiDAR, 3D Laser Mapping, Airborne Imaging Inc., Quantum Spatial, Avent LiDAR technology, GeoDigital and Leica GeoSystems AG.
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Scope of LiDAR Market
Product Type Segments
• Terrestrial
• Aerial
• Mobile
• Short Range
Component Type Segments
• Laser
• Inertial Navigation System
• Camera
• GPS/GNSS Receiver
• Micro Electro Mechanical System (MEMS)
Application Segments
• Corridor Mapping
• Seismology
• Exploration and Detection
• Others
End-User Segments
• Defence and Aerospace
• Civil Engineering
• Archaeology
• Forestry and Agriculture
• Mining Industry
• Transportation
Geographical Segments
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o United Kingdom
o Spain
o Others
• Asia-Pacific
o China
o India
o Japan
o South Korea
o Others
• RoW
o South America
o Middle East
o Africa

About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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