DEC 11 2020: The global LiDAR
services market size is expected to reach USD 2.6 billion by 2025,
registering a CAGR of 14.5% from 2019 to 2025, according to a new study by
Grand View Research, Inc. LiDAR services find prominent applications in the
automotive industry. Further, favorable government policies regarding
self-driven vehicles and advanced driver-assistance systems (ADAS) are fueling
market growth.
The use of LiDAR services in autonomous vehicles is
one of the major factors driving the market. Furthermore, increasing automobile
production across developed and developing economies, along with the growing
demand for technologically advanced electronic safety systems in vehicles, are
the major factors positively impacting market growth. The implementation of stringent
carbon emission norms are driving demand for next-generation technologies, such
as advanced driving systems. This, in turn, is likely to drive demand for LiDAR
services over the forecast period. Further, LiDAR sensors are also used for
security, surveillance, and logistics in industrial automation. The extensive
use of sensors in the automotive and industrial automation industry is
anticipated to positively influence the market over the forecast period.
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The market is anticipated to be driven by growing
3D imaging technology. The growing use of 3D imaging enabled devices, such as
the robotic vision system, medical imaging device, and the 3D X-ray imaging
device, are expected to boost the growth of the market. Besides, the
implementation of LiDAR services in 3D imaging is expected to boost its demand
in the healthcare industry.
North America held largest market share in 2018,
followed by Asia Pacific and Europe. The Asia Pacific regional market is
expected to witness robust growth over the forecast period, owing to the
increasing awareness regarding the benefits of the techonology in the
automotive and industrial automation industry. Moreover, the rise in demand can
be attributed to the growth in adoption of ADAS in autonomous cars in China,
Japan, South Korea, and Singapore.
Further
key findings from the report suggest:
• The GIS service segment is estimated to gain high
traction in the market. As this involves advanced terrestrial laser scanning
systems for data acquisition in 3-dimensional point clouds
• The modelling segment is further sub segmented as
city modelling and others. The city modelling segment is expected to account for
maximum share in the market
• The significant adoption of LiDAR in Unmanned
Aerial Vehicles (UAVs) has led to the growth of the market
• Increasing adoption of LiDAR mapping across
different applications namely corridor mapping delivers sustainable growth
opportunities for market
• Maintaining operational costs is a major focus
area of the suppliers in the market. As availability of low-cost services in
the market creates major concern for the prominent suppliers
• The emergence of a considerable number of
substitutes, such as HTC Corporation, and Sony Corporation, introducing
low-cost automotive imaging LiDAR sensors, is expected to challenge market
growth
• The key participants in the LiDAR services market
are namely Fugro; GeoDigital; Harris Geospatial Solutions, Inc.; Hexagon;
Kucera International; Quanergy Systems, Inc.; Quantum Spatial; and Surdex
Corporation.
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Table
of Contents
Chapter 1 Methodology and Scope
1.1 Information Procurement and Research Scope
1.2 Information Analysis
1.3 Market Formulation & Data Visualization
1.4 Research Scope and Assumptions
1.5 List to Data Sources
Chapter 2 Executive Summary
2.1 LiDAR Services Market - Industry Snapshot &
Key Buying Criteria, 2014 - 2025
2.2 LiDAR Services Market, 2014 - 2025
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation & Scope
3.2 Penetration & Growth Prospect Mapping
3.3 Market Dynamics
3.3.1 Market Drivers
3.3.1.1 Rising development of UAV LiDAR services
3.3.1.2 Increasing adoption of LiDAR services and
mapping across different applications
3.3.1.3 The increasing adoption of 3D imaging
technology
3.3.2 Market Restraints
3.3.2.1 Data and privacy issues associated with
LiDAR services
3.4 Technology Overview
3.5 Industry Analysis - Porter's
3.5.1 Supplier Power
3.5.2 Buyer Power
3.5.3 Substitution Threat
3.5.4 Threat from new entrant
3.5.5 Competitive rivalry
3.6 LiDAR - PEST Analysis
3.6.1 Political
3.6.2 Economic
3.6.3 Social
3.6.4 Technological
3.7 Major Deals and Strategic Alliances
3.7.1 Mergers and Acquisitions
3.8 Spend Analysis of LiDAR Services, by
Application
3.9 List of Prominent LiDAR Service Suppliers
across the globe
Continued………………..
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