North America LiDAR Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 0.98 Billion |
| Market Size (2029) | USD 2.38 Billion |
| CAGR (2024 - 2029) | 19.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America LiDAR Market Analysis
The North America LiDAR Market size is estimated at USD 0.98 billion in 2024, and is expected to reach USD 2.38 billion by 2029, growing at a CAGR of 19.5% during the forecast period (2024-2029).
Moreover, the growing trends in the automotive industry toward self-driving cars and electric vehicles are expected to be critical drivers for newer applications of LiDAR.
- North America is one of the major developers of the technology, owing to increasing investments in accelerating innovations in the LiDAR landscape. These types of LiDAR systems are adopted by a growing number of industries, especially for applications in engineering, construction, the environment, and exploration, proving the effectiveness and, therefore, demand for this technology.
- Additionally, the growing demand for platooning in the North American region is also influencing the growth of this market. Following Georgia and Tennessee, Arkansas, North Carolina, South Carolina, and Texas have made commercial platooning legal, which enables freight companies like FedEx to conduct more fuel-efficient operations. As platooning needs technologies like LiDAR, it is therefore expected to contribute to the region's dominance in the automotive space for LiDAR technology.
- According to US Department of Transportation data, 51% of freight miles within the country are available in states that have approved commercial truck platooning. LiDAR technology is used in unmanned aircraft systems (UAS), and the US military and civil government are increasing their operations for UAS, which can increase the growth of this market.
- Moreover, ground-based LiDAR systems are witnessing growth, owing to factors such as low cost and their increasing applications in SUVs. The ground LiDARs provide an exceptional ability to produce 3D images of land in coastal and other areas, as well as ground movements such as landslides.
- However, the high costs associated with the deployment of this technology are restraining the growth of this market, and many manufacturers are looking for substitutes that could replace the functionality of LiDAR systems using RADAR and other optical sensors. Hence, these factors can restrain the growth of this market.
- Furthermore, the COVID-19 pandemic led to lockdowns all over the world, which disrupted the exports of automotive parts and caused large-scale manufacturing interruptions in the US.
North America LiDAR Market Trends
The Demand for Advanced Global Positioning System (GPS) will Drive the Growth of the Market
- The Global Positioning System (GPS) is a satellite-based radio navigation technology, and it is one of the essential components of a LiDAR system, which helps to determine an object's latitude, longitude, and height (altitude) in terms of 3 coordinates while mounted on an airplane or vehicle. One of the major advantages of GPS on the LiDAR system is the ability to remotely map dangerous or inaccessible areas by suppressing the challenge from ground control points.
- Navigation-based GPS applications enable end-users to optimize their daily schedules by offering features such as shortest path selection, approximate time to reach the destination, presence of traffic, and roadblocks along the way, among others. Moreover, owing to the technological advancements and capabilities of mobile devices, there is fast growth in geospatial computing in the automotive sector, which requires GPS data.
- Additionally, the growing demand for sophisticated sensor systems (satellite systems, GNSS/GPS) and the portable nature of the devices that can capture geospatial data and process it are also influencing the growth of the market. However, the creation of maps is one of the major applications of LiDAR systems, where GPS plays a prominent role in their high accuracy and resolution.
- Major vendors in this market are also using innovative strategies to gain some competitive advantage over their other competitors. For instance, in October 2022, Cepton Inc. announced a collaboration with LidarSwiss Solutions GmbH to deploy its lidar technology in a drone-based mapping and analytics solution for infrastructure management and engineering design applications.
Automotive Industry will Hold the Largest Market Share for this Market
- LiDAR has been recently incorporated into the development of a pre-scan system that assesses the surface of the road through a pulse laser to establish ideal suspension levels to ease the consumer's driving experience. Moreover, this provides the smoothest ride by preparing the tires to react to the imperfections in the road and alerting the driver to the presence of potholes and other obstacles.
- LiDAR is primarily used for the advanced driver assistance systems (ADAS) in automobiles for the convenience of the driver, with a human-machine interface for safe guidance and smooth operation. The autonomous nature of the vehicle requires considerably high accuracy and assistance for obstacle detection, avoidance, and safe navigation through the roadways.
- According to the National Highway Traffic Safety Administration, a division of the Department of Transportation, 42,915 people died in motor vehicle traffic crashes in 2021, a 10.5% increase from the 38,824 fatalities in 2020. Hence, the Federal Motor Carrier Safety Administration is committed to accelerating the deployment of ADAS technologies in four categories, which include active braking systems, active steering systems, active warning systems, and camera monitoring systems. These types of government initiatives are expected to definitely support the growth of this market.
- Moreover, the growing demand for electric vehicles is also influencing the growth of this market. In 2022, the US Department of Transportation's (USDOT) Federal Transit Administration announced over USD 1.6 billion in grant selections through the Low- or No-Emission (Low-No) Grant program. It will fund the deployment of transit buses and infrastructure that use enhanced propulsion technologies, which are fueling the growth of this market.
North America LiDAR Industry Overview
The LiDAR market is fragmented due to the presence of many large and small vendors. The major vendors are investing in their research and development sections to gain a competitive advantage over their competitors. Some major vendors in this market are Sick Ag, Quanergy, Phantom Intelligence, Neptec Technology, etc.
In March 2023, RoboSense, a provider of smart LiDAR sensor systems, announced the launch of an automotive-grade solid-state LiDAR perception solution for L4 autonomous driving, the RS-Fusion-P6 (P6). The P6 provides precise and intelligent environmental perception capabilities, enabling autonomous vehicles to navigate through complex driving scenarios with ease, helping to reduce costs and increase efficiency, and promoting the rapid implementation of large-scale autonomous driving commercial operations.
In November 2022, Velodyne Lidar, Inc. announced a multi-year agreement to provide its lidar sensors to GreenValley International for handheld, mobile, and unmanned aerial vehicle (UAV) 3D mapping solutions, including in GPS-denied environments. Velodyne's power-efficient, versatile sensors allow GreenValley to incorporate their technology into a variety of form factors, from backpacks to drones and UAVs to handheld mobile devices that can be used in a wide range of indoor and outdoor environments, regardless of temperature, lighting, or precipitation.
North America LiDAR Market Leaders
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Sick Ag
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Trimble inc
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Quanergy Systems
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Velodyne LiDAR Inc
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Topcon Corporation
*Disclaimer: Major Players sorted in no particular order
North America LiDAR Market News
- April 2023: Aeva and Plus announced the unveiling of a design for the next-generation PlusDrive, a highly automated driving solution integrated with the company's Aeries II 4D LiDAR sensor.
- February 2023: Mercedes-Benz announced the addition of lidar sensors to a range of its vehicles by the middle of the decade. The laser sensors will help power the company's driver-assist system, which allows for autonomous driving on certain highways. The lidar will be supplied by Luminar, a Florida-based company in which Mercedes owns a small investment stake.
North America LiDAR Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers/Consumers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Fast Paced Developments And Increasing Applications Of Drones
5.1.2 Growing Applications In Government Sector
5.1.3 Increasing Adoption In Automotive Industry
5.2 Market Restraints
5.2.1 High Cost of The LiDAR Systems
6. MARKET SEGMENTATION
6.1 Product
6.1.1 Aerial LiDAR
6.1.2 Ground-based LiDAR
6.2 Components
6.2.1 GPS
6.2.2 Laser Scanners
6.2.3 Inertial Measurement Unit
6.2.4 Other Components
6.3 End-User
6.3.1 Engineering
6.3.2 Automotive
6.3.3 Industrial
6.3.4 Aerospace & Defense
6.4 Country
6.4.1 United States
6.4.2 Canada
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 Leica Geosystems AG
7.1.2 Topcon Corporation
7.1.3 Velodyne Lidar Inc.
7.1.4 Quanergy Systems Inc
7.1.5 Sick AG
7.1.6 Phantom Intelligence INC.
7.1.7 Neptec Technologies Corp
7.1.8 Trimble Inc
7.1.9 TELEDYNE Optech
7.1.10 Denso Corporation
7.1.11 Faro Technologies Inc.
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MAREKET
North America LiDAR Industry Segmentation
LiDAR is a remote sensing method that uses light in the form of a pulsed laser to measure ranges by targeting a surface or an object with a laser and measuring the time for the reflected light to return to the receiver. The LiDARs are also used for tracking low-flying aircraft, as they can perform efficiently in all weather conditions and can accurately calculate the dimension and distance of the target.
The scope of the report covers the segmentation of LiDARs based on product type, components, end-user, and country. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyzes the overall impact of COVID-19 on the ecosystem. The scope of the report encompasses market sizing and forecasting for segmentation by product, components, end-user, and country.
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| Product | |
| Aerial LiDAR | |
| Ground-based LiDAR |
| Components | |
| GPS | |
| Laser Scanners | |
| Inertial Measurement Unit | |
| Other Components |
| End-User | |
| Engineering | |
| Automotive | |
| Industrial | |
| Aerospace & Defense |
| Country | |
| United States | |
| Canada |
North America LiDAR Market Research FAQs
How big is the North America LiDAR Market?
The North America LiDAR Market size is expected to reach USD 0.98 billion in 2024 and grow at a CAGR of 19.5% to reach USD 2.38 billion by 2029.
What is the current North America LiDAR Market size?
In 2024, the North America LiDAR Market size is expected to reach USD 0.98 billion.
Who are the key players in North America LiDAR Market?
Sick Ag, Trimble inc, Quanergy Systems, Velodyne LiDAR Inc and Topcon Corporation are the major companies operating in the North America LiDAR Market.
What years does this North America LiDAR Market cover, and what was the market size in 2023?
In 2023, the North America LiDAR Market size was estimated at USD 0.79 billion. The report covers the North America LiDAR Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America LiDAR Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America LiDAR Industry Report
Statistics for the 2024 North America LiDAR market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. North America LiDAR analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
