Key Takeaways
- The global LiDAR market size was valued at USD 1.7 billion in 2022 and is projected to grow to USD 9.5 billion by 2030, registering a CAGR of 24.2% from 2023 to 2030.
- Automotive LiDAR segment dominated the market with over 40% revenue share in 2022 due to rising adoption in ADAS and autonomous vehicles.
- The solid-state LiDAR market is expected to grow at a CAGR of 28.5% from 2023 to 2028, driven by cost reductions and miniaturization.
- MEMS-based LiDAR market expected to reach USD 2.5 billion by 2028, growing at 35% CAGR from 2023.
- FMCW LiDAR technology resolution improved to 1 cm accuracy in 2023 prototypes, enabling velocity measurement.
- Solid-state LiDAR power consumption reduced by 70% to under 5W per unit in 2023 models.
- Automotive LiDAR accounted for 45% of total applications in 2023, primarily for Level 3+ autonomy.
- In agriculture, LiDAR enabled precision farming with crop yield increases of 15-20% via 3D mapping.
- UAV LiDAR surveyed 70% of forested areas in Europe for biomass estimation in 2023 projects.
- Velodyne Lidar Inc. held 25% market share in automotive LiDAR shipments in 2023.
- Luminar Technologies secured USD 2.1 billion in contracts with Volvo and Mercedes by 2023.
- Ouster Inc. reported USD 90 million revenue in 2023, up 120% YoY from digital LiDAR sales.
- North America accounted for 38% of global LiDAR market revenue in 2023, led by US AV testing.
- China LiDAR market grew 50% YoY to USD 800 million in 2023, driven by local OEMs.
- Europe invested EUR 1.2 billion in LiDAR R&D through Horizon Europe program by 2023.
The LiDAR industry is experiencing explosive growth driven by automotive and smart technology adoption.
Applications & Adoption
- Automotive LiDAR accounted for 45% of total applications in 2023, primarily for Level 3+ autonomy.
- In agriculture, LiDAR enabled precision farming with crop yield increases of 15-20% via 3D mapping.
- UAV LiDAR surveyed 70% of forested areas in Europe for biomass estimation in 2023 projects.
- Smart city LiDAR deployments grew to 500 cities worldwide by 2023 for traffic management.
- Robotics industry adopted LiDAR in 80% of new warehouse AMRs (autonomous mobile robots) in 2023.
- Mining sector used LiDAR for 3D modeling, reducing survey time by 60% in 2023 operations.
- Archaeology LiDAR uncovered 500+ new Mayan structures in 2023 via airborne surveys.
- Flood modeling with mobile LiDAR achieved 95% accuracy in predicting water levels in 2023 US trials.
- Retail LiDAR for shelf monitoring deployed in 1,000 Walmart stores by end of 2023.
- Construction BIM (building information modeling) integrated LiDAR data in 65% of large projects in 2023.
- Environmental monitoring LiDAR detected deforestation at 98% accuracy over 10M ha in Amazon 2023.
- Healthcare LiDAR for gait analysis adopted in 200 clinics, improving diagnosis by 25%.
- Ports and logistics used LiDAR for container stacking optimization, boosting throughput 18%.
- Film industry utilized LiDAR for virtual production sets in 40% of Hollywood blockbusters 2023.
- Oil & gas pipeline inspection via drone LiDAR covered 50,000 km globally in 2023.
- Sports analytics with LiDAR tracked player movements at 0.1s precision in 2023 Olympics prep.
- Power line inspection LiDAR identified 95% of faults preemptively in US grid 2023.
Applications & Adoption Interpretation
Key Players & Companies
- Velodyne Lidar Inc. held 25% market share in automotive LiDAR shipments in 2023.
- Luminar Technologies secured USD 2.1 billion in contracts with Volvo and Mercedes by 2023.
- Ouster Inc. reported USD 90 million revenue in 2023, up 120% YoY from digital LiDAR sales.
- Hesai Technology shipped 1.2 million LiDAR units in 2023, leading China market with 40% share.
- Innoviz Technologies partnered with BMW for 800,000 units production starting 2024, announced 2023.
- AEye Inc. raised USD 50 million in Series D funding in 2023 for 4Sight intelligent LiDAR.
- Quanergy Systems emerged from bankruptcy in 2023 with new S3 solid-state LiDAR series.
- Livox (DJI subsidiary) captured 15% of drone LiDAR market with Mid-360 model sales.
- Cepton Technologies won USD 100 million order from General Motors for Waymo vehicles 2023.
- RoboSense delivered 500,000 units to XPeng Motors in 2023 for smart driving systems.
- Aeva Technologies' 4D LiDAR integrated into Daimler Truck's production trucks 2023.
- Blackmore (Luminar acquisition) contributed FMCW tech boosting Luminar revenue 50%.
- Hokuyo Automatic expanded US presence with 20% sales growth in industrial LiDAR 2023.
- Sick AG's multi-layer LiDAR scanners sold 100,000 units for factory automation 2023.
- Leishen Intelligent System (LeiShen) hit USD 200 million revenue from China AV market.
Key Players & Companies Interpretation
Market Size & Growth
- The global LiDAR market size was valued at USD 1.7 billion in 2022 and is projected to grow to USD 9.5 billion by 2030, registering a CAGR of 24.2% from 2023 to 2030.
- Automotive LiDAR segment dominated the market with over 40% revenue share in 2022 due to rising adoption in ADAS and autonomous vehicles.
- The solid-state LiDAR market is expected to grow at a CAGR of 28.5% from 2023 to 2028, driven by cost reductions and miniaturization.
- LiDAR market in Asia Pacific is anticipated to register the highest CAGR of 26.3% during the forecast period owing to manufacturing hubs.
- In 2023, the number of LiDAR suppliers worldwide increased to over 150, up from 100 in 2020, indicating rapid industry expansion.
- Global LiDAR revenue reached USD 2.1 billion in 2023, with projections to hit USD 15 billion by 2030 at a 32% CAGR.
- Mechanical LiDAR held 55% market share in 2022 but is expected to decline to 30% by 2028 as solid-state gains traction.
- The LiDAR market for drones (UAVs) grew by 45% YoY in 2023, reaching USD 450 million.
- Enterprise LiDAR solutions market valued at USD 1.2 billion in 2023, expected to grow at 22% CAGR to 2030.
- Short-range LiDAR segment is projected to grow fastest at 27.8% CAGR due to robotics and consumer electronics demand.
- In 2023, LiDAR ASP (average selling price) dropped to USD 350 per unit from USD 500 in 2021, accelerating adoption.
- LiDAR market penetration in passenger vehicles expected to reach 25% by 2027, up from 5% in 2023.
- Total LiDAR units shipped globally in 2023 exceeded 5 million, a 60% increase from 2022.
- Robotics LiDAR market size was USD 800 million in 2023, forecasted to reach USD 4.2 billion by 2030 at 27% CAGR.
- Flash LiDAR technology captured 15% market share in 2023, up from 8% in 2021.
- LiDAR market in smart cities applications valued at USD 300 million in 2022, growing at 30% CAGR.
- By 2025, LiDAR is expected to be standard in 40% of new premium vehicles globally.
- Global LiDAR patent filings reached 2,500 in 2023, a 35% YoY increase led by China and US.
- Defense & aerospace LiDAR market projected to grow from USD 500 million in 2023 to USD 1.8 billion by 2030.
- LiDAR for agriculture market size hit USD 150 million in 2023, with 28% CAGR forecast.
Market Size & Growth Interpretation
Regional Insights & Investments
- North America accounted for 38% of global LiDAR market revenue in 2023, led by US AV testing.
- China LiDAR market grew 50% YoY to USD 800 million in 2023, driven by local OEMs.
- Europe invested EUR 1.2 billion in LiDAR R&D through Horizon Europe program by 2023.
- Asia Pacific excluding China expected CAGR 25% for LiDAR from 2023-2030, Japan leading.
- US DoD awarded USD 300 million in LiDAR contracts for unmanned systems in FY2023.
- India launched national LiDAR program with INR 500 crore budget for mapping 2023-2027.
- Middle East LiDAR market for oil & gas grew 35% to USD 120 million in 2023.
- Latin America UAV LiDAR adoption surged 40% for agriculture in Brazil/Argentina 2023.
- Australia mining LiDAR projects covered 20% of open pits with USD 150M spend 2023.
- South Korea invested KRW 200 billion in automotive LiDAR for Hyundai/Kia by 2023.
- VC funding in LiDAR startups reached USD 1.5 billion globally in 2023, US taking 60%.
- Germany hosted 25% of Europe's LiDAR patents filed in 2023, Bosch/Continental leading.
- Japan LiDAR exports grew 30% to USD 400 million, targeting Southeast Asia markets.
- Africa LiDAR for conservation mapped 5M ha of wildlife corridors in 2023 initiatives.
- Canada forestry LiDAR program digitized 40% of national forests by 2023.
- Southeast Asia smart city LiDAR pilots in 10 cities with SGD 100M Singapore investment.
- Russia defense LiDAR R&D budget increased 25% to RUB 50 billion in 2023.
- Mexico automotive LiDAR assembly plants opened by 3 suppliers, USD 200M FDI 2023.
- Global LiDAR M&A deals totaled 12 in 2023, valued at USD 3.2 billion.
- UAE Dubai integrated LiDAR in 100% of autonomous shuttles fleet by 2023.
Regional Insights & Investments Interpretation
Technological Advancements
- MEMS-based LiDAR market expected to reach USD 2.5 billion by 2028, growing at 35% CAGR from 2023.
- FMCW LiDAR technology resolution improved to 1 cm accuracy in 2023 prototypes, enabling velocity measurement.
- Solid-state LiDAR power consumption reduced by 70% to under 5W per unit in 2023 models.
- Hybrid LiDAR (ToF + FMCW) systems achieved 300m range with 0.1% reflectivity in 2023 tests.
- Beam steering LiDAR using OPA (optical phased array) reached 120° FoV at 0.05° angular resolution in lab demos.
- LiDAR point cloud density increased to 1 million points per second in automotive-grade flash LiDARs by 2023.
- Coherent LiDAR detection sensitivity improved to -80 dBm, enabling long-range detection under fog.
- Integrated LiDAR SoCs (system on chip) reduced size to 5mm x 5mm with 100m range in 2023.
- Multi-wavelength LiDAR (1550nm + 905nm) enhanced penetration in adverse weather by 50% in field trials.
- AI-enhanced LiDAR processing reduced noise by 90% in real-time object classification in 2023 algorithms.
- 4D LiDAR (adding velocity) market adoption rose with systems offering 200 Hz frame rates.
- Quantum-enhanced LiDAR achieved 10x better resolution at 1km range in 2023 research.
- LiDAR-V2X fusion latency dropped to 10ms in 2023 integrated systems for AVs.
- Silicon photonics LiDAR cost per unit fell to USD 50 in volume production prototypes 2023.
- Gesture recognition LiDAR accuracy reached 99% at 5m distance with ToF sensors.
- LiDAR IMU fusion improved localization accuracy to 2cm RMS in GNSS-denied environments.
- High-definition LiDAR maps generation time reduced to 1 hour per km² using ML.
Technological Advancements Interpretation
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