The global LiDAR market size is expected to reach USD 4.71 billion by 2030, registering a CAGR of 9.8% during the forecast period, according to a new report published by Grand View Research, Inc. The market growth is attributable to the rising adoption of LiDAR technology in environmental mapping, automobile safety application arenas, and construction and architectural sectors for monitoring 3D-modeling applications, among others. As this technology is one of the key sensing technologies for enabling hybrid and fully autonomous driving, the rapid development of self-driving vehicles is expected to propel market growth.

Various organizations are focusing on enhancing their LiDAR technology to provide improved safe driving car technologies. For instance, in January 2022, Cepton, a US-based developer and manufacturer of LiDAR products, selected OSRAM's 905 nm edge-emitting lasers to combine high optical output power with low-power consumption light detection and ranging systems for providing enhanced ADAS solutions. The ADAS application segment is expected to witness notable growth owing to the rising incorporation of automotive safety and forward-collision avoidance systems.

Gather more insights about the market drivers, restraints and growth of the Global LiDAR market

LiDAR Market Report Highlights

• The rising automation in various industries has reduced human efforts and increased efficiency. The technological superiority of LiDAR-based technology in several engineering projects is expected to propel the market growth over the forecast period
• The airborne segment is expected to remain dominant over the forecast period. The growth of the segment is attributed to the increasing adoption of aerial mapping devices
• North America is expected to emerge as one of the leading regional markets over the forecast period owing to the rising R&D investments and the high adoption of LiDAR solutions in the automotive sector and environmental scanning & modeling operations
• The growing demand for this technology in emerging economies such as India, Japan, and China is driving the growth of the market in Asia Pacific. Additionally, a rise in demand for technology across the automotive industry is contributing to the growth of the market
• The current market environment is witnessing intense competition among the key players for achieving market domination through product differentiation and quality enhancement

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LiDAR Market Segmentation

Grand View Research has segmented the global LiDAR market based on product type, application, component, and region:

LiDAR Product Type Outlook (Revenue, USD Million, 2017 - 2030)

• Airborne
• Terrestrial
• Mobile & UAV

LiDAR Application Outlook (Revenue, USD Million, 2017 - 2030)

• Corridor Mapping
• Engineering
• Environment
• Exploration
• Advanced Driver Assistance Systems (ADAS)
• Others

LiDAR Component Outlook (Revenue, USD Million, 2017 - 2030)

• Laser Scanners
• GPS
• Navigation (IMU)
• Others

LiDAR Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
• Asia Pacific
  • China
  • India
  • Japan
• South America
  • Brazil
• Middle East & Africa

Order a free sample PDF of the LiDAR Market Intelligence Study, published by Grand View Research.