Global LiDAR Market: Increasing Prospects in Emerging Nations to Provide Opportunities for Growth, Says TMR

The most prominent players in the global light detection and ranging (LiDAR) market are concentrated in Europe and the U.S. Both the regions exhibit a huge consumer base, which is why the competition prevailing in these regions is significantly high. The players in the market especially focus on specialization to strengthen their market position while catering to the consumer demand, finds Transparency Market Research (TMR) in a new study.

“In emerging economies such as India, China, and Japan, the competitive rivalry is still moderate, however, is projected to increase in response to the increasing consumer demand,” said a lead TMR analyst. Overall the global LiDAR market is highly concentrated with top three players holding over 40% of the market in 2013. These companies are Leica Geosystems, Optech Inc., and RIEGL Laser Measurement Systems Ltd.  

TMR has forecast the global LiDAR market to exhibit a CAGR of 15% between 2014 and 2020. By the end of 2020, the market is projected to reach US$605.5 mn. Based on product, airborne LiDAR dominated the global market due to its increasing application in aerial imaging and surveying. However, the report predicts terrestrial LiDAR to exhibit higher growth during the course of the forecast period 2016 to 2020. Regionally, North America and Europe account for the dominant share of 70% in the market in 2013. Over the forecast period, the growth witnessed by the market in these regions will continue to grow.

Advantages Offered Over Conventional Counterparts Keep Demand for LiDAR High Worldwide

The global LiDAR market derives growth from the myriad advantages the LiDAR technology provides over conventional mapping technologies. With the rising demand for 3D imagery in consumer and government applications, in future the demand from the market is expected to increase further. For instance, in commercial applications, the LiDAR technology is used for 3D scanning of objects. The technology also enables getting 3D scanned object by using a 3D printer. It is due to such bundle of benefits they offer, the LiDAR technology is adopted across a large number of companies irrespective of their size.

The LiDAR set up used for 3D scanning is cheaper, power efficient, and compact, which is also contributing to its increasing uptake worldwide. Besides this, the innovation of unmanned aerial vehicles also created novel opportunities for the market’s growth. The data obtained through the technology is considered of high importance to government hence it finds considerable planning and surveying, defense and military, and engineering applications. Furthermore, the LiDAR technology has also proven helpful in government projects such as mining, forestry management, roadway construction, building rail infrastructure, and measuring archeological remains.

Lack of Standardization of Data Emerges as Major Bottleneck

“Despite witnessing favorable opportunities, absence of standardization of data format is threatening to hamper the market’s growth,” observed the TMR report’s author. However, in the recent past several steps were taken to introduce common standards in LiDAR, this could help the market players mitigate the challenge. In addition, the gap in software development also pose threat to the market. While this restraint currently has a low impact on the market, it is expected to become low in the near future with several developments underway. The development of unmanned aerial vehicles and other similar innovations will help the market gain pace in the near future.

This review is based on information published by TMR in a report, titled “LiDAR Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”

The report segments the global LiDAR market as:

Global LiDAR Market, by Product Type:

  • Airborne LiDAR
  • Terrestrial LiDAR 

Global LiDAR Market, by Application:

  • Coastal
  • Forestry
  • Transportation
  • Infrastructure
  • Defense and Aerospace
  • Transmission lines
  • Flood Mapping
  • Others (Mining, Hydrography etc.)

Global LiDAR Market, by Geography:

  • North America
  • Asia Pacific
  • Europe
  • Rest of the World

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