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Automated Vehicles And Intelligent Transportation Systems Fueling Lidar Software Market Growth: Transformative Forces Shaping the Lidar Software Market Landscape in 2025
Lidar Software
How Large Will the Lidar Software Market Size By 2025?
The dimension of the lidar software market has seen a significant expansion in the past few years. The market size is projected to rise from $0.41 billion in 2024 to $0.5 billion in 2025, with a compound annual growth rate (CAGR) of 22.5%. This historical growth can be traced back to increased usage in autonomous vehicles, environmental supervising and studying, urban designing and infrastructure evolution, precision farming, along with government schemes and financing.
How Big Is the Lidar Software Market Size Expected to Grow by 2029?
Expectations are high for the lidar software market, with predictions of significant expansion in the coming years. The market is anticipated to reach $1.03 billion by 2029, boasting a compound annual growth rate (CAGR) of 19.5%. Factors contributing to this forthcoming growth include the integration of artificial intelligence (AI) and machine learning (ml), increased applications in the 5G and telecommunications sectors, the rise of advanced driver assistance systems (adas), drone-enabled lidar solutions, and the emergence of smart cities. Additionally, trends likely to characterize this period include improved accessibility via cloud-based solutions, developments in lidar technology and sensor fusion, the integration of edge computing, and regulatory compliance and standardization.
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Which Key Market Drivers Powering Lidar Software Market Expansion and Growth?
The anticipated increase in automated vehicles and smart transportation systems is predicted to accelerate the lidar software market's growth. An automated vehicle, alternatively known as an autonomous vehicle or self-driving car, is engineered to function independently for certain durations without ongoing driver supervision. Smart transportation involves the application of advanced technologies in advancing the safety, efficiency, and sustainability of transportation systems. Lidar sensors deliver high-definition, 3D point cloud information, which empowers automated vehicles to correctly identify and monitor objects like vehicles, pedestrians, bicyclists, and hindrances, ensuring a precise depiction of the environment for well-informed decision-making and occupant safety. For example, in December 2022, the National Association of Insurance Commissioners, a non-profit organization based in the United States, anticipated the number of self-driving cars on American streets to hit 3.5 million by 2025. Furthermore, it's estimated that 4.5 million autonomous vehicles will be operational by 2030. As such, the increasing prevalence of automated vehicles and smart transportation systems are fueling the growth of the lidar software market.
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Which Fast-Growing Trends Are Poised to Disrupt the Lidar Software Market?
Prominent businesses in the lidar software market are innovating with advanced technologies such as cloud software to enhance customer experience with superior features. Essentially, cloud software refers to applications and software that are hosted on the internet and accessed online rather than being installed on personal computers or local servers. In a relevant instance, Velodyne Lidar Inc., a lidar technology firm based in the US, unveiled the Vella family of software products in December 2022. What sets the Vella family of software products apart is their ability to accelerate the progress of lidar-based visual solutions for autonomous applications. Velodyne's sensor clients can enjoy convenient access to Vella's software solutions through the Vella Portal internet platform. This includes Vella Go for managing lidar sensors, Vella Perception for application development, and Vella Cloud Services that provide AI functionalities.
What Are the Emerging Segments in the Lidar Software Market?
The lidar softwaremarket covered in this report is segmented -
1) By Product Type: Simulation Software, Mapping Software, Processing Software
2) By Technology Type: Mechanical, Solid State
3) By Deployment: Airborne, Terrestrial
4) By Application: Forestry And Environmental, Survey And Mapping, Automotive, Construction And Infrastructure, Other Applications
Subsegments:
1) By Simulation Software: Flight Simulation, Sensor Simulation, Environmental Simulation
2) By Mapping Software: 2D Mapping, 3D Mapping, Topographic Mapping, Bathymetric Mapping
3) By Processing Software: Data Processing And Analysis, Point Cloud Processing, Feature Extraction, Data Visualization
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Who Are the Global Leaders in the Lidar Software Market?
Major companies operating in the lidar software market report are Jabil Inc., Aptiv PLC, Trimble Inc., Geo-Plus, Leica Geosystems AG, Faro Technologies Inc., Shanghai Huace Navigation Technology Ltd., Teledyne Optech, Velodyne LiDAR Inc., Luminar Technologies Inc., Blickfeld GmbH, Seoul Robotics, LeddarTech Inc., GreenValley International, Innoviz Technologies Ltd., Cepton Technologies Inc., GeoCue Group Inc., Quanergy Systems Inc., YellowScan, Routescene, Terrasolid Ltd., Aeva Inc., MatrixSpace, Neuvition Inc., Outsight SA, Phoenix LiDAR Systems
Which are the Top Profitable Regional Markets for the Lidar Software Industry?
North America was the largest region in the lidar software market in 2024. The regions covered in the lidar software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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