LiDAR Market

LiDAR Companies - Leica Geosystems AG (Sweden) and Trimble Inc. (US) are the Key Players

The LiDAR market is projected to grow from USD 1.6 billion in 2023 and is projected to reach USD 3.7 billion by 2029; it is expected to grow at a CAGR of 18.2% from 2024 to 2029.

Major LiDAR Companies Include: 

  • Leica Geosystems AG (Sweden),
  • Trimble Inc. (US),
  • Teledyne Optech (Canada),
  • FARO (US),
  • Ouster (Velodyne Lidar, Inc.) (US),
  • RIEGL Laser Measurement Systems GmbH (Austria) and more 

The growth of the LiDAR market is driven by rise in the development of smart cities and infrastructure projects, surge in the demand for 3D imagery in application areas, emergence of 4D LiDAR, rising adoption of LiDAR systems in UAVs.

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Key strategies adopted by the players in the LiDAR market ecosystem to enhance their product portfolios, increase their market share and expand their presence in the market mainly include new product launches and partnerships and acquisitions.

For instance, in August 2023, Leica Geosystems (Sweden) unveiled a new capability for the Leica BLK2FLY, which enables it to scan indoors, thereby offering expanded coverage for complex scanning projects. The BLK2FLY possesses the ability to can scan in areas without GNSS availability, paving the way for reality capture opportunities in new settings and new applications, for hazardous indoor areas like nuclear power plants. Improved performance of the autonomous navigation system elevates the sensor’s spatial awareness, enabling for obstacle avoidance in more confined spaces. This new capability is backed by the advancements to Hexagon’s visual SLAM system, offering real-time spherical imaging, improving BLK2FLY’s operating range to a radius of 1.5 meters.

In June 2023,  Leica Geosystems (Sweden) launched the Leica CountryMapper. This launch has extended the hybrid sensor portfolio with the most efficient solution for large-area imaging and LiDAR mapping. The Leica CountryMapper combines a large-format photogrammetric camera with a high-performance LiDAR unit into a single system. It collects foundational geospatial data simultaneously, to generate highly accurate data products in order to support various customer applications.

Leica Geosystems AG is one of the major players in the overall LiDAR market. The company is a wholly-owned subsidiary of Hexagon AB that provides LiDAR products and solutions. These products and solutions are used in various applications, such as surveying, infrastructure & construction, and aerospace & defense. The high demand from EMEA and the Americas drives the major revenue of the GES segment.

Leica Geosystems AG strongly focuses on urban mapping and smart city applications. Apart from this, the company has a strong distribution network. It has the highest R&D expenditure among the major players, offering LiDAR solutions, which is reflected in product launches. Its strategic acquisitions have provided abundant opportunities in ground-based LiDAR offerings, such as mapping and exploration. Acquisitions play a crucial role in Hexagon AB’s portfolio and growth strategy. Over the past 20 years, the company has completed over 140 acquisitions to expand its technologies and domain expertise. Its major strategy is the digital transformation of its solutions, which, in turn, can provide actionable intelligence to its customers.

Trimble Inc. is one of the key players in the LiDAR market. The company offers hardware, software, and solutions for LiDAR. Its core products are designed for industries, such as agriculture, construction, geospatial, and transportation & logistics. It is mainly involved in software and solutions, which account for a significant portion of its business. Its growth strategy mainly focuses on technological innovations by reinvesting in R&D activities. Being a leader in navigation and positioning systems, Trimble Inc. uses its expertise in these fields to bring out technological advancements, such as airborne and mobile LiDAR scanning solutions. The company has robust investments in research & development (R&D) activities, having 2,000 patents and R&D centers in more than 15 countries. It focuses on an organic growth strategy, which is evident from a large number of product launches. It has a strong geographic footprint in more than 150 countries worldwide. In 2022, Trimble Inc. introduced the Trimble X12, a 3D laser scanning system, to the geospatial scanning portfolio. The X12 integrates intuitive Trimble software for precise data capture and in-field registration with state-of-the-art 3D laser scanning and imaging hardware.

Related Reports:

LiDAR Market by Component (Laser Scanners, Navigation and Positioning Systems, Other Components), Installation (Airborne, Ground-based), Type (Mechanical, Solid-state), Range (Short, Medium, Long), Service, Region - Global Forecast to 2029

Mr. Aashish Mehra
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LiDAR Market Size,  Share & Growth Report
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SE 3281
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