LiDAR Market

Market Leader - LiDAR Market

The LiDAR market is estimated to grow USD 1.3 billion in 2021 and reach USD 3.4 billion by 2026; it is projected to grow at a CAGR of 21.6% from 2021 to 2026. The rising adoption of LiDAR systems in UAVs, increasing adoption of LiDAR in engineering and construction applications, use of LiDAR in geographical information systems (GIS) applications, the emergence of 4D LiDAR, and easing of regulations related to the use of commercial drones in different applications are among the factors driving the growth of the LiDAR market. However, safety threats related to UAVs and autonomous cars and the easy availability of low-cost and lightweight photogrammetry systems are restraining the growth of the market. Increasing investments in LiDAR startups by automotive giants, opportunities for SWIR-based design in the long term, technological shifts with the adoption of solid-state, MEMS, flash LiDAR, and other LiDAR technologies, development of better geospatial solutions using sensor fusion, and initiatives undertaken by governments of different countries to encourage the use of LiDAR drones for large-scale surveys are expected to provide growth opportunities to the LiDAR market players during the forecast period. Moreover, the high cost of LiDAR services and the limited availability of geospatial data pose challenges to the LiDAR market.

In 2020, LiDAR market was dominated by Leica Geosystems AG (Sweden), Trimble, Inc. (US), Teledyne Optech (Canada), FARO Technologies, Inc. (US) and RIEGL Laser Measurement Systems GmbH (Austria). The major strategies adopted by the top 5 players in the LiDAR market included product launches and developments, collaborations, contracts and acquisitions which helped them to innovate on their product offerings and broaden their customer base.

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Top 2 players in the LiDAR market are:

Leica Geosystems AG (Sweden)

Leica Geosystems AG, a wholly-owned subsidiary of Hexagon that provides LiDAR products and solutions, is one of the major players in the overall LiDAR market. Acquisitions play an important role in Hexagon’s portfolio and growth strategy. Over the past 20 years, the company has completed more than 140 acquisitions to expand its technologies and domain expertise, of which ten acquisitions were done in 2018. The major strategy that the company follows is the digital transformation of its solutions, which, in turn, can provide actionable intelligence to its customers. These products and solutions are used in various applications, such as surveying, infrastructure & construction, aerospace & defense, and others. The major revenue of the GES segment is driven by the high demand from EMEA and the Americas.

 Recent Developments

  • In February 2021,  Leica Geosystems AG announced Leica RTC360 3D laser scanner, which requires minimal monitoring by the user, allowing for increased scanning efficiency, productivity, and flexibility when planning reality capture tasks.
  • In December 2020, Leica Geosystems extended the Leica Cyclone FIELD 360 mobile-device app to all Leica Geosystems 3D terrestrial laser scanners for in-field data acquisition and visualization, enhancing the existing and well-established 3D reality capture workflow.

Trimble Inc. (US)

Trimble Inc. is one of the important players in the LiDAR market. It offers hardware, software, and solutions for LiDAR. The core offerings of the company are for industries such as agriculture, construction, geospatial, and transportation & logistics. Being a leader in navigation and positioning systems, Trimble uses its expertise in these fields to bring out advancements in technologies such as airborne and mobile LiDAR scanning solutions. The company has robust investments in research and development activities, having 2,000 patents and R&D centers in more than 15 countries. It focuses on organic growth strategy, which is evident from a large number of product launches. Trimble has a strong geographic footprint with a presence in more than 150 countries worldwide.

Recent Developments

  • In July 2021, Trimble Inc. introduced the Trimble MX50 mobile mapping system for asset management and mapping. This vehicle-mounted mobile LiDAR system is a mid-range option for first-time mobile mapping users and experienced providers to expand their equipment fleet with precise, high-volume data capture technology.

Related Reports:

LiDAR Market With Covid-19 Impact by Technology (2D, 3D, 4D), Component (Laser Scanners, Navigation and Positioning Systems), Installation Type (Airborne and Ground Based), Range, Service, End-Use Application, and Region - Global Forecast to 2026

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

LiDAR Market Size,  Share & Growth Report
Report Code
SE 3281
RI Published ON
12/1/2021
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