LiDAR Services Market Analysis Report By Service Type, By Application, By Region And Segments Forecasts From 2019 To 2025

Industry Insights

The global LiDAR services market size was accounted for USD 985.4 million in 2018 and is anticipated to grow with a CAGR of 14.5 % during the forecast period, from 2019 to 2025.  LiDAR technology is an important mapping sensing tool for land surveyors and mapping communities across the globe. This technology has been used to complement the proficiency of remote sensing and mapping systems.

LiDAR technology is also implemented in the forest, remote, and inaccessible areas in order to access the information and bare-earth feature. This technology uses light energy emitted from the laser in order to scan the ground and measure variable distances. Moreover, increasing usage of 3D technology for medical imaging and robotics is expected to further drive the growth of this market over the forecast period.

LiDAR services are deployed with 3D imaging technologies including textured 3D imaging and used in several applications like city planning and 3D mapping. Hence, the deployment of 3D imaging technology is highly influencing the market growth due to the rising demand for LiDAR mapping and data processing services. Various market players have acquired or partnered with LiDAR services providers to increase the efficiency of vertical efficiency in the market. For example, in 2017, A LiDAR service provider, Network Mapping Inc. is acquired by Trimble Inc. This acquisition helped Trimble Inc. to expand the energy solution portfolio that enables it to offer high-value data modeling and 3D visualization services.

LiDAR services are gaining popularity in several countries such as Germany and the U.S. in the transportation sector. The transportation agencies are using this technology for several transporting applications including autonomous truck fleets and self-driving cabs. Moreover, the technological advancement user interface, as well as diagnostic features for identifying malfunctioning of LiDAR sensors, is anticipated to boost the market growth for LiDAR services. Also, the deployment of inertial measurement unit (IMU) technology in LiDAR services to give more accurate measurements is expected to propel the market growth over the forecast period.

The LiDAR services market is facing some challenges such as data privacy concerns, which are expected to hamper the market growth in the next few years. In addition, lack of awareness and inefficiency of LiDAR services is estimated to hinder the market growth. Unmanned Aerial Vehicle (UAV) is used for aerial surveying poses a privacy issue owing to the constant monitoring of drones by the public. Additionally, rising awareness about identity protection and the risk involved in these services among customers is also projected to have a negative impact on market growth.

Service Types Insights

Based on service types, the LiDAR service market is fragmented into aerial surveying, ground-based surveying, GIS service, mapping, modeling, and asset management.  The modeling segment is further sub-segmented into city modeling and others. In 2018, GIS service held the largest market share whereas the asset management segment is projected to grow with the fastest CAGR over the forecast period.

Earlier these services enable customers to create areal imaging data which was very complex and expensive to observe. However, LiDAR deployed advanced drones use an automated GPS to create multiple passes over the inaccessible areas in order to collect the data. This data is very helpful for handling projects related to water and land management, inspecting assets, and measuring volumes. The increasing adoption of LiDAR services for project handling, drone operations, and data processing is projected to drive market growth over the forecast period.

Application Insights

On the basis of applications, the market is segmented into the environment, ADAS, corridor mapping, exploration, engineering, and others. ADAS is expected to grow with the highest CAGR over the forecast period. In 2018, corridor mapping held the largest market share in terms of revenue. Rising demand for LiDAR services across various applications including engineering, environment, and others are estimated to fuel the demand for application segments, thereby expected to drive the market growth over the forecast period.

In autonomous vehicles, LiDAR services including GIS and ground-based surveying are required to support ADAS. Hence, increasing awareness regarding the benefits of deploying the LiDAR system in unmanned/manned aerial vehicles, 3D imagery, building modeling, and self-driven vehicles, is anticipated to boost the application segment growth during the forecast period. In addition, services like the international LiDAR survey are widely used to access the data for mapping, photogrammetry, and other geospatial projects. Service provider assists their clients by giving datasets as per their requirements. The increasing adoption of LiDAR services across various industries including transportation, construction, and automotive is projected to augment the market growth over the forecast period.

Regional Insights

In 2018, North America has dominated the global market and accounted for the largest market share, followed by Europe and the Asia Pacific. Moreover, Asia Pacific is projected to witness robust growth from 2019 to2025. This growth is attributed to the rapidly growing deployment of LiDAR services across various industries and rising investment by governments across various countries in this region.

Growing demand for LiDAR services by several countries such as Japan, China, and India is expected to have a positive impact on market growth in the next few years. In addition, favorable government regulations and growth of the automotive industry are another major factor influence the market growth in the Asia Pacific. For example, China’s Ministry of Industry and Information Technology (MIIT) has announced the provision that 50.0% of all new vehicles must have fully or partially autonomous functions by the end of the year 2022.

Impact of COVID-19

The outbreak of COVID-19 has changed the way to live and work across the globe. The emergence of 3D imaging technology in Lidar services is expected to reduce the risk of spreading virus infection. According to the Centers for Disease Control (CDC), one of the most effective ways to prevent virus infection is by washing hands for 20 seconds. 3D Lidar technology is integrated with machine learning can detect the handwashing behavior of a person without accessing personal information. In addition, this technology helps to monitor patients and detect the behavior of concerns like falling out of bed and social distancing analysis. Such benefits associated with LiDAR services are expected to drive market growth in the pandemic situation.

LiDAR Services Market Share Insights

The major players include in the market are Hexagon, Kucera International, Trimble, Inc., Surdex Corporation, Terra Remote Sensing, Harris Geospatial Solutions, Inc., Fugro, Quantum Spatial, Quanergy Systems, Inc., and GeoDigital. The market is highly competitive in nature due to cost and service differentiation factors.  In addition, market players are focusing on R&D to retain their position in the competitive market. However, price competitiveness and maintaining profit margin are the major concerns for market players. Additionally, automobile manufacturers are estimated to enter into partnerships or acquire LiDAR service providers; thereby expected to increase the scope of vertical integration in the market.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Million Insights has segmented the global LiDAR services market report on the basis of service type, application, and region:

• Service Type Outlook (Revenue, USD Million, 2014 - 2025)
    • GIS Service
    • Asset Management
    • Aerial Surveying
    • Ground-Based Surveying
    • Mapping
    • Modelling
        • City Modelling
        • Others

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Corridor Mapping
    • Engineering
    • Environment
    • Exploration
    • ADAS
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • South America
        • Brazil
        • Argentina
    • Europe
        • U.K.
        • Germany
        • France
        • Spain
        • Italy
    • the Asia Pacific
        • China
        • India
        • Japan
        • Australia
    • Middle East & Africa
        • UAE
        • Saudi Arabia