Light Detection and Ranging (LiDAR): Technologies and Global Markets

Light Detection and Ranging (LiDAR): Technologies and Global Markets

  • September 2017 •
  • 132 pages •
  • Report ID: 5136800
• The global light detection and ranging (LiDAR) market should reach $4.5 billion by 2022 from $1.5 billion in 2017 at a compound annual growth rate (CAGR) of 24.0% from 2017 to 2022.
• The coastal application segment of the LiDAR market is expected to grow from $301 million in 2017 to $824 million in 2022 at a CAGR of 22.3% for the period 2017-2022.
• The transportation application segment of the LiDAR market is expected to grow from $273 million in 2017 to $804 million in 2022 at a CAGR of 24.1% for the period 2017-2022.

Study Goals and Objectives
This report is an impact analysis of the light detection and ranging (LiDAR) market. The information in this report includes factors currently driving and restraining the growth of the market, as well as factors affecting the future of the industry.

The goals and objectives of this report include the following:
• To define, identify and analyze major market segments and their respective structure in the overall LiDAR market.
• To identify key market dynamics, trends, opportunities and factors influencing the global LiDAR market and its subsegments.
• To forecast the size of the overall LiDAR market and analyze it by component type, application and region.
• To identify major stakeholders and analyze the competitive landscape on the basis of recent developments.
• To identify the trends, gaps and opportunities in each of the submarkets.
• To understand the effect of environmental concerns on this market.
• To analyze and achieve an understanding of the need for technologically advanced surveying systems.

Reasons for Doing This Study
Light Detection and Ranging (LiDAR) is a remote sensing technology that measures scattered light (laser) to find information about and the range of a distant target. LiDAR is comparable to radar in certain aspects. However, LiDAR uses waves of shorter wavelengths than radar, which uses radio waves for measuring targets. The wavelengths of the electronic spectrum for LiDAR technology typically lie in the visible, ultraviolet and infrared range.

LiDAR technology enables direct measurement of 3D structures and underlying terrain with high resolution and high data accuracy. This ability of LiDAR equipment to achieve high resolution makes it superior to other conventional optical instruments used for measuring height ranges.

LiDAR technology is capable of collecting tens of thousands to over millions of positions per second accurately over a large area. The process of collecting data using LiDAR technology is faster than conventional surveying. Thus, LiDAR is considered a reliable solution for mapping infrastructure, in order to support modeling, maintenance and visioning of activities. Because of this, the adoption of LiDAR equipment is increasing across applications such as archaeology, agriculture, atmospheric remote sensing and military, among others.

Another major driver behind the widespread adoption of this technology is the high accuracy of its output and its speed in collecting data. LiDAR technology has multiple applications such as corridor mapping, contour mapping, volumetric mapping, coastal mapping, mining, transmission lines, transportation mapping, floodplain and forestry. However, one of the major challenges in adopting this technology is related to the complexity in interpreting the LiDAR data due to lack of standardization.

North America is the major consumer and producer of products and services related to LiDAR technology. The U.S. has been one of the pioneers in the field of LiDAR and is making efforts to improve accuracy and to obtain higher-resolution mapping images through LiDAR. There is intense competition among the manufacturers in this region. However, one key aspect is related to the use and processing of collected data, which is widely carried out in Europe and Asia-Pacific.

Thus, the market for LiDAR is
discretely distributed across different regions in the world. This report will provide insights gleaned from Business Communications Company Inc.’s new report on LiDAR, including forecast trends and sales through 2022. It will also discuss key elements of the LiDAR market, such as component types, application, region, major manufacturers and factors influencing demand.

Scope of Report
This report represents an in-depth analysis of the global LiDAR market by component, type, application and region. The report discusses the differentiation between LiDAR to derive specific market estimates. The report discusses a comparative study between conventional and emerging laser and the importance of the advances in LiDAR. The report also discusses strategies adopted by major players in the global LiDAR market.

Patent analysis imparted in the report provides a snapshot of technological trends in the global market over time as well as by geography— namely for the U.S., Europe and Japan. The global LiDAR market is segmented by type of LiDAR: airborne, terrestrial, mobile and UAV.

Research Methodology
For the research report, we have done rigorous primary as well as secondary research in order to track the market in an accurate manner. Key data for making market estimates, such as top-down and bottom-up models, were used to determine value-related trends.

Key players in the LiDAR market have been identified through review of secondary sources such as industry white papers, annual reports, published reports by credible agencies, financial reports and published interviews of Key Opinion Leaders (KOLs) from leading companies.

During the primary interviews, KOLs also suggested some other LiDAR producers that were not included under the initial scope of the study, and these were added to the section on company profiles. In general, KOLs included CEOs, general managers, vice presidents, sales directors, market executives, R&D directors, product managers, procurement managers, export managers, etc. During the research process, all the major stakeholders across the value chain of LiDAR were contacted for interviews.

In the first phase of the study, revenue for LiDAR market was determined through reviewing annual sales reports, analyzing related industry reports, tracking global import and export trends, and monitoring financial parameters related to the market.

In the second phase of the study, we conducted primary interviews with KOLs from leading players in the market to verify our initial estimates gathered through secondary sources. Based on primary interviews, some of the initial findings were kept intact while others were refined. The final value forecast for LiDAR market were derived through a series of primary interviews with KOLs.

For some segments in the LiDAR market, there were no secondary hard data available. In those cases, price trends, inflation rate, industrial production indices, purchasing managers’ indices (PMIs), etc., were used to estimate data for these market segments. These estimates were verified by KOLs.

Intended Audience
The intended audience for this report includes:
• Producers.
• Environment protection agencies.
• End users (industries including semiconductor and electronics, automotive, aerospace and defense, healthcare and others).
• Suppliers.
• Raw material providers.
• Investors (private equity, venture capital, etc.).

Geographic Breakdown
In this report, the geographic regions considered for market analysis include, and only include:
• North America.
• Europe.
• Asia.
• Rest of the World (ROW).

Chapter 2: Summary and Highlights
LiDAR enables the collection of a wealth of information for numerous applications and delivers several advantages over traditional methods of aerial mapping. This technology is changing the paradigm of terrain mapping and attaining popularity in several applications such as floodplain mapping, forest inventory, geomorphology, hydrology, landscape ecology, urban planning, survey assessments, volumetric calculations and coastal engineering.

These applications can benefit from a combination of LiDAR and geographic information systems (GIS) in order to manage and conduct analysis, disseminate and visualize LiDAR data. Due to these and many other factors, the LiDAR market is expected to grow at a compound annual growth rate (CAGR) of 24.0% between 2017 and 2022 to attain a market value of $4.5 billion in 2022.

Many alternatives to LiDAR can be considered as failed technologies; it follows, then, that the need for a more accurate, more reliable and easier method of collection of the data of the region, and the resulting growth LiDAR technology are key drivers for the market.

However, the growth of the LiDAR market is limited by factors such as lack of industrial standards of operations and non-interoperability of technologies, as well as the high cost associated with it.

If the LiDAR market were at a different stage of its evolution, these restraints could hinder market growth. However, it is expected that further technological advances will bring cost corrections and that standards of operation will improve. The key opportunities for the market are in the adoption of LiDAR by small and medium-size enterprises (SMEs) and superior growth potential in emerging economies. Once the cost of LiDAR is reduced, SMEs and emerging economies are forecasted to deploy these devices in various application sectors in big numbers.

The types of LiDAR available on the market are airborne, terrestrial, mobile and UAV. Currently, airborne LiDAR is the most commonly used; therefore, this had the largest revenue share in 2016, at REDACTED, and will remain the largest market, expected to reach nearly REDACTED by 2022. The mobile LiDAR market is expected to have the highest CAGR – REDACTED – for the period of 2017 through 2022.

Geographically, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (ROW). North America had the highest revenue in the market in 2016 at REDACTED and it is expectedto continue to dominate the revenue share, with a value of REDACTED in 2022. Since North America is a technologically advanced region, the LiDAR technology initially formed a strong base in the region.

However, the Asia-Pacific region is expected to have the best market potential to grow, at a CAGR of REDACTED during 2017 through 2022. This growth potential is due to the fact that emerging nations in thisregion are involved in heavy industrializati on.