LiDAR Companies - Leica Geosystems AG (Sweden),Trimble, Inc. (US) and Teledyne Optech (Canada) are the Key Players
The LiDAR market is projected to grow from USD 1.4 billion in 2023 to USD 3.7 billion in 2028; it is expected to grow at a CAGR of 19.4% from 2023 to 2028. The growth of the market is attributed to rising adoption of LiDAR systems in UAVs, and increasing adoption of LiDAR in engineering and construction applications. During the forecast period, LiDARs with 3D & 4D technology providing aerial surveying, asset management, GIS services, ground-based surveying are expected to create growth opportunities for the market.
Key players operating in the market include Leica Geosystems AG (Sweden), Trimble, Inc. (US), Teledyne Optech (Canada), FARO Technologies, Inc. (US), RIEGL Laser Measurement Systems GmbH (Austria), SICK AG (Germany), Quantum Spatial (US), Beijing SureStar Technology Co. Ltd. (China). Major strategies adopted by top players to enhance their product portfolios, increase their market share, and expand their presence in the market mainly include new product launches with the latest technology and innovation and deals, such as acquisitions and partnerships.
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Leica Geosystems AG: Leica Geosystems AG is 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. 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.
Trimble Inc.: 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.
Teledyne Optech: Teledyne Optech is one of the major players in the overall LiDAR market. Teledyne Optech and Teledyne CARIS are the subsidiaries of Teledyne Technologies that offer hardware and software solutions, respectively. Teledyne Optech collaborates with other high-technology companies in the Teledyne family to develop innovative cross-technology solutions. By combining Optech’s LiDAR and camera expertise with Teledyne’s wide portfolio of remote-sensing technology, the company provides surveyors with new and versatile tools that improve the efficiency of current applications and create deliverables for new markets.
Related Reports:
LiDAR Market by Component (Laser Scanners, Navigation & Positioning Systems), Type (Solid State, Mechanical), Installation Type (Airborne and Ground Based), Range, Service, End-use Application, Region - Global Forecast to 2028
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