The Global LiDAR Software Market Size is valued at 345.04 million in 2022 and is predicted to reach 1845.92 million by the year 2031 at a 20.58% CAGR during the forecast period for 2023-2031.
The light detection and ranging (LiDAR) system is generalized as a remote sensing device that uses light beams to analyze, detect, and map things. The LiDAR device consists of a sender that emits light rays and a receiver that gathers reflected light rays for mapping purposes. Due to its capacity to generate highly accurate data and 3D photos in less time than traditional surveying methods, this technology has gained appeal over conventional surveying methods. The improved automated processing capability of LiDAR scanners and systems in terms of picture resolution and prompt data processing capability over other technologies are the primary factors pushing the growth of the global LiDAR market.
However, the COVID-19 pandemic has significantly influenced the LiDAR ecosystem's enterprises. Both producers and end users have benefited from LiDAR technology. The epidemic of COVID-19 has had a significant impact on the market for oil and gas exploration applications. LiDAR exploration applications include using LiDAR for oil and gas exploration and mining. The restrictions on public transit reduced gasoline use and had an impact on global oil prices. The decrease in oil and gas output has impacted exploratory applications, reducing the market for LiDAR.
- In January 2023, PR Boost-Vaisala announced WindCube Lidar upgrades, including new design features, measuring capabilities, and support services for optimal Wind Resource Assessment in adverse weather conditions across a wide range of regions.
Some of the LiDAR Software Market Player are:
- Phoenix LiDAR Systems
- GreenValley International
- LeddarTech Inc.
- Blickfeld GmbH
- Velodyne LiDAR, Inc.
- Shanghai Huace Navigation Technology Ltd. (CHC Navigation)
- Leica Geosystems AG - Part of Hexagon AB
- Quanergy Systems, Inc.
- Innoviz Technologies Ltd
- Teledyne Geospatial
- Seoul Robotics
- Neuvition, Inc.
- Aeva Inc.
- Outsight SA
The LiDAR Software Market is segmented on the basis of application, technology type, product type, and deployment. Application segment includes forestry & environmental, survey & mapping, automotive, construction & infrastructure, and others. The technology type segment includes mechanical and solid states. The market is segmented by product type into simulation, mapping, and processing software. The deployment segment includes airborne and terrestrial.
Based On Deployment, The Airborne Segment Is Accounted As A Major Contributor In The LiDAR Software Market
The airborne category is expected to hold a major share of the global LiDAR Software Market in 2022. The segment's growth is likely to continue in the next years, owing to the increased deployment of aerial mapping technologies. The airborne LiDAR system is a precise and comprehensive means of constructing digital elevation models, effectively replacing photogrammetry. This technology covers a larger area than its terrestrial counterparts and provides broad area mapping in shorter time intervals.
The Automotive Segment Witnessed Growth At A Rapid Rate
The personal care segment is projected to grow at a rapid rate in the global LiDAR Software Market. The increased need for LiDAR systems in applications such as ADAS and driverless vehicles drives this segment's growth. Emerging LiDAR technologies widely employed in the automotive sector include driver assistance and low-speed collision avoidance systems. These technologies provide greater monitoring and guidance features to the driver, allowing self-driving cars to succeed even without a human driver.
In The Region, The North America LiDAR Software Market Holds A Significant Revenue Share
The North America LiDAR Software Market is expected to register the highest market share in terms of revenue in the near future. This can be due to the region's increasing acceptance of administrative regulations demanding the installation of specified automotive safety technologies in both lightweight and heavyweight vehicles. Because of the increased acceptance of technology such as ADAS and AEB, North America has seen growth potential in the automobile business. Because of increased local and foreign investment, China and India are projected to remain lucrative markets. To improve client service, the corporations are growing their presence in Europe and Asia Pacific.
Global LiDAR Software Market Report Scope:
Market size value in 2022
USD 345.04 Mn
Revenue forecast in 2031
USD 1845.92 Mn
Growth rate CAGR
CAGR of 20.58 % from 2023 to 2031
Representation of revenue in US$ Billion, and CAGR from 2023 to 2031
2019 to 2022
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends
Application, Technology Type, Product Type, And Deployment
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia
Phoenix LiDAR Systems, Terrasolid, GreenValley International, Routescene, YellowScan, LeddarTech Inc., Blickfeld GmbH, Teledyne Geospatial, Velodyne LiDAR, Inc., Innoviz Technologies Ltd, Shanghai Huace Navigation Technology Ltd. (CHC Navigation), Geo-Plus, GeoCue, Leica Geosystems AG - Part of Hexagon AB, Quanergy Systems, Inc., Seoul Robotics, Neuvition, Inc., MatrixSpace, Aeva Inc., and Outsight SA.
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