LiDAR Market by Product (Terrestrial / Static, Aerial, Mobile, and Short-range), by Application (Corridor mapping, Seismology, Exploration and detection, and Others), by Components (Laser, Inertial navigation system, Camera, Gps/Gnss receiver, and Mi

Market Definition:
The Global LiDAR Market size was valued at USD 960 million in 2019 and is predicted to reach USD 5.35 billion by 2030 with a CAGR of 16.9% from 2020-2030. LiDAR is a light ranging and detection system, which uses laser light in the form of pulses for the examination, detection and mapping of objects. LiDAR systems are increasingly getting popular over conventional survey methods as it provides highly accurate data and 3D scanning in a short span of time. With the help of LiDAR systems, 3D mapping of earth surfaces and terrain can be performed that are not naturally visible to human eyes.
Market Dynamics and Trends
There has been tremendous technological advancement and increased demand of automation in data processing during the last few years. Also, increased demand of 3D imaging in various industrial applications along with the rise in surveying & excavation activities around the world is expected to contribute to the growth of LiDAR market over the forecast period. The other factors such as increased use of LiDAR in automobile sector for autonomous vehicles, increase in mining activities, and government initiatives to promote LiDAR are further expected to augment the growth of LiDAR market in the near future. However, high cost of LiDAR and low awareness among people are expected to hamper the market growth. On the other hand, launch of innovative products and technology enhancement are further expected to create lucrative opportunities in the LiDAR market in the near future.
Market Segmentations and Scope of the Study:
The global LiDAR market share is analyzed on the basis of product, target disease, and geography.

On the basis of product

, the market is segmented into Terrestrial / Static, Aerial, Mobile, and Short-range. On the basis of application, the market is divided into Corridor mapping, Seismology, Exploration and detection, and others. On the basis of component, the market is divided into Laser, Inertial navigation system, Camera, Gps/Gnss receiver, and Micro Electro Mechanical System (MEMS). On the basis of end-user the market is divided into Defense and aerospace, Civil Engineering, Archaeology, Forestry and Agriculture, Mining Industry, and Transportation. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America represents the increased adoption of LiDAR and is expected to hold the major market share over the forecast period. The factors contributing to the market growth include administrative regulations mandating the installation of specific automotive safety technologies in both lightweight and heavyweight vehicles along with rising investments on accelerating innovations in the LiDAR landscape in the region.
Asia Pacific is expected to denote rapid growth rate with gradual increase in market share over the forecast period. Factors attributable to this growth include rapid industrialization, increasing usage of drones for various applications such as cartography, agriculture, and corridor mapping and rise in the number of smart city initiatives in countries in this region.

Competitive Landscape

The LiDAR market is highly competitive and fragmented, thus consists of a various market players. Some of the major market players include Velodyne, Airborne Hydrography AB, Leosphere SAS, Faro Technologies Inc., Leica Geosystems AG, GeoSLAM Ltd. (3D Laser Mapping), Firmatek LLC, RIEGL Laser Measurement Systems GmbH, Mira Solutions Inc., and Aerometric Surveys among others.
Over the period of time there has been various developments taken place in the past. For instance, Velodyne Lidar, Inc. (Velodyne), the inventor and leader of the LiDAR sensor for autonomous vehicles (AV), has announced Nikon Corporation (Nikon) as a new strategic investor with an investment of $25M. The parties further announced they have begun discussions for a multifaceted business alliance.
KEY MARKET SEGMENTS:
• Global LiDAR market – By Product
o Terrestrial / Static
o Aerial
o Mobile
o Short-range
• Global LiDAR market –

By Application

o Corridor mapping
o Seismology
o Exploration and detection
o Others
• Global LiDAR market –By Components
o Laser
o Inertial navigation system
o Camera
o Gps/Gnss receiver
o Micro Electro Mechanical System (MEMS)
• Global LiDAR market –By End User
o Defense and aerospace
o Civil Engineering
o Archaeology
o Forestry and Agriculture
o Mining Industry
o Transportation
• Global LiDAR market –By Geography
o North America
 U.S.
 Canada
 Mexico
o Europe
 UK
 Germany
 France
 Rest of Europe
o Asia-Pacific
 China
 India
 Japan
 Rest of Asia-Pacific
o RoW
 Latin America
 Middle East
 Africa

KEY PLAYERS:
• Leica Geoystems AG
• RIEGL Laser Measurement Systems GmbH
• Faro Technology Inc.
• Velodyne LiDAR
• Airborne Hydrography AB
• Leosphere SAS
• GeoSLAM Ltd.
• Firmatek, LLC
• Mira Solutions, Inc.
• Aerometric Surveys