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IT & TELECOMDISCOUNT VALID TILL 31st-JANUARY , 2022

LiDAR Sensors Market Segmentation by Type (Airborne, and Terrestrial); by Technology (Solid State, and Mechanical); and by Application (Vehicle Automation, Forest Planning and Management, Surveillance Technology, Transport Planning, Cellular Network Planning, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Extensive insights into the Growth of LiDAR Sensors Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • September 2021- Bosch announced that it is working on the series development of a LiDAR sensor that can be used in automotive. The technology measures the distance and generates a 3D representation of the vehicle’s surroundings.

  • Otober 2020- Continental signed an agreement for an investment in LiDAR company AEye to jointly develop a high-performance long-range LiDAR sensor based on AEye’s patented 1550nm agile architecture.  

Global LiDAR Sensors Market Highlights Over 2022 - 2031

The global LiDAR sensors market is estimated to garner a substantial revenue by growing at a CAGR of ~12% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the growing usage of LiDAR sensors in self-driving cars, and rising mechanization of agricultural machinery across the globe. Along with these, LiDAR is an active remote sensing technology that uses optical amplification on stimulated emission of electromagnetic radiation. Integration of this technology allows collection of more accurate and precise real time data, which in turn is also expected to drive significant growth to the market in the forthcoming years. Furthermore, increasing level of automation and digitalization around the world is projected to offer lucrative opportunities to the market in the near future. As of January 2021, 4.5 billion people around the world used internet actively, whereas more than 4 billion people were evaluated as active mobile internet users.

LiDAR Sensors Market

The market is segmented by application into vehicle automation, forest planning and management, surveillance technology, transport planning, cellular network planning, and others. Out of these, the vehicle automation segment is anticipated to hold the largest share in the global LiDAR sensors market. This can be accounted to the high applicability of LiDAR technology in autonomous and electric vehicles to provide functionalities such as 3D mapping and car surround sensors. Apart from this, growing demand for advanced driver assistance systems is also predicted to fuel the growth of the market segment in the future. Additionally, on the basis of technology, the solid state segment is assessed to acquire the largest share during the forecast period owing to the cost effectiveness, high reliability and simpler driving operations provided by LiDAR sensors equipped with this technology. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global LiDAR Sensors Market Regional Synopsis

Regionally, the global LiDAR sensors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the high production of electronic components, especially in China and Japan, and easy availability of raw materials in the region. Moreover, the market in North America is expected to gather the largest share during the forecast period, which can be credited to the increasing demand for LiDAR sensors in the United States for autonomous vehicle delivery. In addition, government’s emphasis to shift towards net zero gaseous emissions is projected to boost the production of electric vehicles, which in turn is anticipated to boost the market growth in the region. As per the International Council on Clean Transportation, about 315,000 electric vehicles were sold in the US from 2018 to 2020. In 2020, the share of electric vehicles sold in the country was 2.4%, which increased by about 2% from 2019.

LiDAR Sensors Market Share

The global LiDAR sensors market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global LiDAR sensors market includes the following segments:

By Type

  • Airborne
  • Terrestrial

By Technology

  • Solid State
  • Mechanical

By Application

  • Vehicle Automation
  • Forest Planning and Management
  • Surveillance Technology
  • Transport Planning
  • Cellular Network Planning
  • Others

Growth Drivers

  • Growing Usage of LiDAR Sensors in Self-Driving Cars
  • Rising Mechanization of Agricultural Machinery Globally

Challenges

  • High Cost of LiDAR Sensor Based Systems

Top Featured Companies Dominating the Market

  • Continental AG
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Robert Bosch GmbH
  • Denso Corp.
  • First Sensor AG
  • Hella KGaA Hueck & Co.
  • LeddarTech Inc.
  • Novariant, Inc.
  • Hexagon AG
  • Quanergy System Inc
  • SICK AG

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