LiDAR Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Velodyne GmbH, Leica Geosystems AG, LEOSPHERE SAS, HEXAGON AB, GeoSLAM Ltd., Firmatek LLC

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The Business Research Company offers in-depth market insights through LiDAR Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The lidar market size has grown rapidly in recent years. It will grow from $2.15 billion in 2023 to $2.58 billion in 2024 at a compound annual growth rate (CAGR) of 19.9%. The growth in the historic period can be attributed to automotive safety regulations, increasing demand for lidar in applications such as topographic mapping, agriculture and forestry, growth in military and defense, smart cities and infrastructure.

The lidar market size is expected to see rapid growth in the next few years. It will grow to $5.23 billion in 2028 at a compound annual growth rate (CAGR) of 19.3%. The growth in the forecast period can be attributed to the continued development and commercialization of autonomous vehicle, increasing interest in lidar for environmental monitoring, growing integration of lidar in robotics and automation, the emergence of new and innovative lidar applications, increasing use of lidar for 3d scanning and modeling. Major trends in the forecast period include solid-state lidar, multi-sensor integration, geospatial and mapping, environmental lidar, artificial intelligence (ai) and lidar.

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Market Segmentation:
The main types of LiDAR are terrestrial, aerial, and mobile. Terrestrial LiDAR is also called Terrestrial Laser Scanning (TLS) or topographic LiDAR. Terrestrial LiDAR is categorized into three types depending on the distance they travel - namely, short-range, medium-range, and long-range scanners. The components used in LiDAR are laser scanner, navigation and positioning systems, and others. The various technologies involved in LiDAR are 2D, 3D, and 4D. LiDAR is used in mapping and cartography, ADAS (Advanced Driver-Assistance System), environment, exploration and detection, and other applications. The end users of LiDAR are defense and aerospace, civil engineering, archaeology, forestry and agriculture, mining, and transportation.

Major Driver - Growing 3D Imaging Demand Fuels Lidar Market Growth
The rising demand for 3D imaging is expected to propel the growth of the LiDAR market. 3D imaging is a technique that develops or creates the impression of depth within an image by deploying 2D data into the 3-dimensional format. For instance, in April 2021, according to the data provided by the USGS, United States, the government initiated a 3D Elevation Program (3DEP) and the goal is to complete it by 2023. The aim of the program is to provide the first-ever national baseline of consistent high-resolution three-dimensional data that includes bare earth elevations and three-dimensional point clouds and are collected in a timeframe of less than a decade to complete the acquisition of nationwide LiDAR. Therefore, the rise in demand for 3D imaging drives the LiDAR market.

Competitive Landscape:
Major companies operating in the lidar market include Velodyne GmbH, Leica Geosystems AG, LEOSPHERE SAS, HEXAGON AB, GeoSLAM Ltd., Firmatek LLC, RIEGL Laser Measurement Systems GmbH, Mira Solutions Inc., Aerometric Surveys SA, Airborne Hydrography AB, Faro Technologies Inc., Phoenix LiDAR Systems, Innoviz Technologies Ltd., Waymo LLC, Valeo SA, Neptec Technologies Corp., ZX LIDARS, SICK AG, Quanergy Systems Inc., Teledyne Optech Inc., Trimble Inc., NV5 Global Inc., Huawei Technologies Co. Ltd., Ouster Inc., Luminar Inc., Aeva Technologies Inc., Beijing SureStar Technology Co. Ltd., Quantum Spatial India Private Limited, Topcon Positioning Systems, Cepton Technologies Inc., Optris GmbH, YellowScan Inc., Livox Tech Ltd.

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Top Trend - Automotive Giants Invest In Lidar Startups
The increasing investments in LiDAR startups by automotive giants is a key trend gaining popularity in the LiDAR market. Certain vehicle operations demand robust radars which are fulfilled by LiDAR, making automakers realize the full potential of LiDAR in the self-driving cars market. The cost of LiDAR as compared to the outrageous cost of other sensors is attracting most automakers to implement LiDAR in vehicles, resulting in increasing investments into LiDAR startups. An autonomous vehicle requires a detailed understanding, which is best achieved by 4D LiDAR. For instance, in May 2021, Pony.ai self-driving car backed by Toyota based in the United States collaborated with Lumiar Corporation. Under this partnership, Pony.ai will use LiDAR offered by Luminar in its robo taxi production. The multi-purpose utilization of LiDAR in next-gen (specifically autonomous) vehicles is compelling the automakers to invest in LiDAR startups.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. LiDAR Market Characteristics
3. LiDAR Market Trends And Strategies
4. LiDAR Market - Macro Economic Scenario
5. LiDAR Market Size And Growth
…..
27. LiDAR Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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