LiDAR Market Overview
The Global LiDAR Market is expected to grow at a CAGR of 20.1% during the forecasting period (2024-2031).
LiDAR is an industrial system designed to transfer thermal energy from one fluid to another without actual mixing of two substances. These devices are used in heating, cooling, air conditioning, and other applications. Competitive rivalry intensifies SICK AG, Hokuyo Automatic Co. Ltd., VelodyneLidar Inc., and others operating in the market.
Hydraulic processes involve the transmission of energy and the generation of heat loss. LiDAR is used to maintain the thermal balance of the hydraulic system by dissipating the heat. These systems are finding widespread use in industries such as power generation, petroleum refining, Heating, ventilation, air conditioning (HVAC), pulp & paper, mining, and food processing among others
Market Scope
| Metrics | Details |
| Market CAGR | 20.1% |
| Segments Covered | By Component, By Product, By Type, By Application, By End-User, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
LiDAR is heavily used in military and defense and it had many applications in 3D imaging. When deploying coalition forces to overseas theatres of operation, 3D imagery provides a territory-wide geospatial reference. With GEO Elevation, quickly gain a highly and accurate 3D picture of the terrain, everywhere in the world, whatever the relief and weather conditions
Countries are using 3D imaging to gather real-time view and information of country’s military and neighboring country military positioning
A UAV (Unmanned Aerial Vehicle) with an integrated LiDAR can be an efficient system for the collection of high-resolution and accurate three-dimensional 3D data. The rapid development of small UAVs with higher quality propulsion systems, inertial navigation systems, electronics, and algorithms is also ongoing. Concurrently, LADAR (i.e., laser detection and ranging) sensors that have high reliability, accuracy, pulse repetition frequency, large data capacities, and advanced data analysis techniques are being produced. This drive for the miniaturization of LADAR and UAV systems provides new possibilities for 3D imaging from the air. Indeed, there has been a tremendous development of low-cost inertial systems and global positioning systems (GPS) over the last decade.
Market Segmentation Analysis
By Component
The global market for Laser Scanners valued US$ XX million in 2019 and is likely to reach US$ XX million in 2027 by growing at a CAGR of XX% between 2020-2027. Laser scanning systems are suited for environmental monitoring applications from airborne carbon mapping to coastal monitoring surveys. LiDAR is widely adopted to survey and monitor environments in various applications, including forest management, coastline management, pollution modeling, agriculture, wind farms, and precision forestry
In October 2019, RIEGL Laser Measurement Systems GmbH launched a new lightweight airborne LiDAR for UAV which can be used for UAV-based applications, which require the acquisition of small objects. Decreasing the costs of laser technology is expected to provide 3D scanning. ➢ In December 2019 Pepperl+Fuchs launched an R2300 multi-layer scanner; the 3D object detection sensor offers high measurement density with the use of LiDAR laser measurement technology
By Component
The global market for Laser Scanners valued US$ XX million in 2019 and is likely to reach US$ XX million in 2027 by growing at a CAGR of XX% between 2020-2027. Laser scanning systems are suited for environmental monitoring applications from airborne carbon mapping to coastal monitoring surveys. LiDAR is widely adopted to survey and monitor environments in various applications, including forest management, coastline management, pollution modeling, agriculture, wind farms, and precision forestry
In October 2019, RIEGL Laser Measurement Systems GmbH launched a new lightweight airborne LiDAR for UAV which can be used for UAV-based applications, which require the acquisition of small objects. Decreasing the costs of laser technology is expected to provide 3D scanning. In December 2019 Pepperl+Fuchs launched an R2300 multi-layer scanner; the 3D object detection sensor offers high measurement density with the use of LiDAR laser measurement technology
Market Geographical Share
The Europe LiDAR market for valued US$ 315.67 million in 2019 and is likely to reach US$ XX million in 2027 by growing at a CAGR of XX% between 2020-2027. Europe has a very well developed manufacturing sector, especially automotive, and is expanding into software pretty fast. European governments are considered one of the best in the world in relation to holistic development and are investing in aerial LiDAR development technology aggressively. The sick AG Europe Lidar is going to be dominated by Hexagon, Teledyne Optic Incorporated, and Trimble Inc. The European lidar market is leading in Europe, France, the UK, and Germany. Italy and the U.K. for the highest market share in the region
LiDAR Companies
The major players covered in the Europe lidar market report are SICK AG, Hokuyo Automatic Co. Ltd., VelodyneLidar Inc., Quanergy, Pheonix Aerial Systems among others.
