Global LiDAR Market 2021-2025

Global LiDAR Market 2021-2025

Technavio has been monitoring the LiDAR market and it is poised to grow by $ 1.57 bn during 2021-2025 progressing at a CAGR of 15% during the forecast period. Our report on LiDAR market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the expanding application areas of LiDAR technology and increased adoption of LiDAR in automotive applications and. In addition, expanding application areas of LiDAR technology is anticipated to boost the growth of the market as well.

The LiDAR market analysis includes product segment, application segment and geographical landscapes.

Technavio's LiDAR market is segmented as below:

By Product

• Airborne LiDAR
• Terrestrial LiDAR

By Application

• Corridor mapping
• Engineering
• ADAS and driverless cars
• Environment
• Others

By Geographical Landscapes

• North America
• Europe
• APAC
• MEA
• South America

This study identifies the growing demand for LiDAR solutions from wind powerplants as one of the prime reasons driving the LiDAR market growth during the next few years.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on LiDAR market covers the following areas:

• LiDAR market sizing
• LiDAR market forecast
• LiDAR market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading LiDAR market vendors that include FARO Technologies Inc., GeoSLAM Ltd., Hexagon AB, LeddarTech Inc., Quanergy Systems Inc., Robert Bosch GmbH, SICK AG, Teledyne Technologies Inc., Trimble Inc., and Velodyne LiDAR Inc. Also, the LiDAR market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.