LiDAR Market: Evolution, Expansion, and Expected Trends for the 2024-2029 Period

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As emphasis on automotive safety, smart cities, topographic mapping, and defense increases, the global LiDAR Market continues to see steady growth.

What Is The Projected Market Size Of The Global LiDAR Market And Its Growth Rate?

• The LiDAR market size, valued at $2.54 billion in 2024, is expected to grow at 19.1% CAGR to £3.03 billion in 2025.
• The rising demand for LiDAR in various applications, such as automotive safety, topographic mapping, agriculture, forestry, defense, and smart cities, lends momentum to this growth.
• The market size is projected to further grow to $6.08 billion in 2029 at 19.0% CAGR, attributed to the continued development of autonomous vehicles, environmental monitoring, and integration in robotics and automation.

What Is Driving The Growth In The LiDAR Market?

The thriving demand for 3D imaging is driving the growth of the LiDAR market. As a technique that creates an impression of depth within an image by converting 2D data into a 3-dimensional format, 3D imaging is pivotal in sectors such as healthcare. For instance, according to the National Healthcare Statistics 2024 released by Ireland's Department of Health, there were 102 operational CT scanners, 9 PET scanners, 29 gamma cameras, and 51 radiation therapy equipment in 2023. Hence, the growth in demand for 3D imaging propels the LiDAR market.

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Who Are the Key Players Driving LiDAR Market Growth?

• 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.
• 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.

What Are The Key Trends In The LiDAR Market?

• Solid-state LiDAR: More compact and robust, solid-state LiDARs are gaining traction for their cost-effectiveness and reliabilty.
• Multi-sensor integration: Combination of different sensor technologies provides a more accurate and dependable perception of the environment.
• Environmental LiDAR: LiDAR's role in monitoring and analyzing environmental conditions is increasingly acknowledged.
• Artificial Intelligence and LiDAR: AI algorithms combined with LiDAR can extract more sophisticated data, improving the autonomous navigation of vehicles and robots.

What Are The Segments Of The Global LiDAR Market?

• By Component: Laser Scanner, Navigation and Positioning Systems, Other Components
• By Type: Terrestrial, Aerial, Mobile
• By Technology: 2D, 3D, 4D
• By Applications: Mapping and Cartography, ADAS (Advanced Driver-Assistance System), Environment, Exploration and Detection, Other Applications
• By End User: Defense and Aerospace, Civil Engineering, Archaeology, Forestry and Agriculture, Mining, Transportation

Which Region Leads The LiDAR Market?

North America dominated the LiDAR market in 2024, while Asia-Pacific is expected to be the fastest-growing region during the forecast period. The global LiDAR market encompasses key regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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What Is Covered In The LiDAR Market Global Market Report?

- Market Size Analysis: Analyze the LiDAR Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the LiDAR Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall LiDAR Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the LiDAR Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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