[151 Pages Report] The LiDAR market was valued at USD 677.5 Million in 2017 and is estimated to reach USD 1,809.5 Million by 2023, and a CAGR of 17.2% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023. The objective of the report is to provide a detailed analysis of the LiDAR market based on component, type, installation, range, service, application, and geography. The report provides detailed information regarding the major factors influencing the growth of the LiDAR market. The report also provides a comprehensive overview of the LiDAR value chain.

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Ground-based facility  expected to hold larger share of LiDAR Market During forecast period

The ground-based facility is expected to hold the largest share of the LiDAR market by 2023. The ground-based LiDAR systems cost less and more stringent approval criteria for mapping or surveying, which leads to the larger size of these systems in the LiDAR market.

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LiDAR market for ADAS and driverless for application  to grow at highest CAGR

Among the LiDAR applications, the market for ADAS driver is estimated to grow at the highest CAGR during the forecast period. The growth of this market is attributed to the rise of solid-state LiDAR in ADAS and driverless cars for assuring safety. Moreover, automotive giants are adopting LiDAR systems for their L3-level vehicles to boost the sales of these vehicles.

CAGR during the period

LiDAR market in APAC is expected to grow at the highest CAGR between 2018 and 2023. LiDAR systems are in high demand in APAC owing to the mandate of using LiDAR in the airborne mapping applications. For instance, the National Highways Authority of India (NHAI) has made the LiDAR survey mandatory before any highway construction. The Indian government is becoming aware of the benefits of using LiDAR in various surveys. Such initiatives from the governments of the countries in the region are the driving force of the LiDAR market in this region.

Major players operating in this market are Teledyne Optech (Canada), Leica Geosystems (Switzerland), Reigl Laser Measurement Systems (Austria), Trimble (US), Faro Technologies (US), Quantum Spatial (Aerometric) (US), Velodyne LiDAR ( US), Beijing Surestar Technology (Isurestar) (China), Geokno (India), Sick AG (Germany).

This research report categorizes the global LiDAR market based on component, type, installation, service, range, application, and region. It describes the drivers, restraints, opportunities, and challenges with respect to the LiDAR market.

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