Global LiDAR Market 2023-2027
Technavio has been monitoring the LiDAR market and is forecast to grow by USD 4289.97 mn during 2022-2027, accelerating at a CAGR of 24.45% during the forecast period. Our report on the 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 market scenario, the latest trends and drivers, and the overall market environment. The market is driven by expanding application areas of LiDAR technology, increased adoption of LiDAR in automotive applications, and growing demand for LiDAR solutions from wind power plants.
Technavio's LiDAR market is segmented as below:
- Airborne LiDAR
- Terrestrial LiDAR
- Corridor mapping
- ADAS and driverless cars
By Geographical Landscape
- North America
- Middle East and Africa
- South America
This study identifies the development of LiDAR sensors based on continuous-wave frequency modulation (CWFM) technology as one of the prime reasons driving the LiDAR market growth during the next few years. Also, the evolution of single-photon lidar (SPL) and new product launches and vendor collaborations will lead to sizable demand in the market.
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 the 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 DENSO Corp., FARO Technologies Inc., GMR Infrastructure Ltd., Hexagon AB, Innoviz Technologies Ltd., LeddarTech Inc., Luminar Technologies Inc., Ouster Inc., Phoenix LiDAR Systems, Quanergy Systems Inc., RIEGL Laser Measurement Systems GmbH, Robert Bosch GmbH, RoboSense, SICK AG, SureStar, Teledyne Technologies Inc., Trimble Inc., Valeo SA, YellowScan, and Zephir Ltd. 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 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 accurate market growth.