The global LiDAR market size is expected to reach USD 2.9 billion by 2025, expanding at a CAGR of 17.9%, according to a new report by Grand View Research, Inc. The surging acceptance in environmental mapping and automobile safety application arenas is expected to boost market growth. The increasing acceptance in the construction and architectural sectors for monitoring and 3D-modeling applications is further anticipated to bolster market growth.
The market can be categorized on the basis of application types into corridor mapping, engineering, environment, exploration, Advanced Driver Assistance Systems (ADAS) and others. The ADAS application segment is expected to grow at a remarkable pace owing to the surging incorporation in automotive safety and forward-collision avoidance systems; in the U.K. the regulatory authorities have mandated installation of certain automotive safety technologies such as the collision avoidance technologies. The Euro NCAP Advanced aims to provide buyers with clear guidance regarding the safety benefits offered by technologies such as blind spot monitoring, lane support, Autonomous Emergency Braking (AEB), speed alert, attention assist, vision enhancement, and pre-crash sensing.
In addition, growing environmental concerns have enforced formulation of government regulations over the past decade. The authorities have been implementing strategies, activities, and policies to tackle the concerns. Furthermore, the ability to store large LiDAR point files has been a stumbling block for new government users; however, the technological advancements in spatial resolution of LiDAR-based digital terrain models are providing incredible accuracy in applications such as change detection on hillsides, water runoff for agriculture or mining sites, and inland waterways.
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Further key findings from the report suggest:
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Grand View Research has segmented the global LiDAR market on the basis of product type, application, component, and region:
LiDAR Product Type Outlook (Revenue, USD Million, 2014 – 2025)
LiDAR Application Outlook (Revenue, USD Million, 2014 – 2025)
LiDAR Component Outlook (Revenue, USD Million, 2014 – 2025)
LiDAR Regional Outlook (Revenue, USD Million, 2014 – 2025)
Key Topics Covered
Table of Content
Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research Scope & Assumptions Chapter 2 Executive Summary Chapter 3 Market Snapshot 3.1 LiDAR – Industry Snapshot & Key Buying Criteria, 2014-2025 Chapter 4 Industry Outlook 4.1 Market Segmentation & Scope 4.2 LiDAR market size and growth prospects 4.3 LiDAR- Value Chain Analysis 4.4 Market Dynamics 4.4.1 Market driver analysis 4.4.1.1 The growing environmental concerns 4.4.1.2 The increasing demand for 3D imagery 4.4.1.3 The increasing deployment of automotive safety technologies 4.4.2 Market restraint analysis 4.4.2.1 Lack of awareness and customer education 4.5 Penetration & Growth Prospect Mapping 4.6 Industry Analysis – Porter’s 4.7 LiDAR market- Key company analysis, 2018 4.7.1 Key company analysis, 2018 4.8 LiDAR- PEST Analysis
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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