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LiDAR (Mechanical LiDAR and Solid-State LiDAR) Market 2018-2023: Focus on Corridor Mapping, ADAS & Driverless Car, and Engineering - ResearchAndMarkets.com

[June 01, 2018]

LiDAR (Mechanical LiDAR and Solid-State LiDAR) Market 2018-2023: Focus on Corridor Mapping, ADAS & Driverless Car, and Engineering - ResearchAndMarkets.com

The "LiDAR Market by Type (Mechanical LiDAR and Solid-State LiDAR), Installation (Airborne and Ground-Based), Application (Corridor Mapping, ADAS & Driverless Car, and Engineering), Range, Component, Service, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The overall LiDAR market is expected to reach USD 1,809.5 million by 2023 from USD 819.1 million by 2018, at a CAGR of 17.2% between 2018 and 2023

The increasing use of drones equipped with LiDAR for greater accuracy in surveying applications and the introduction of technologically enhanced LiDAR are the key factors contributing to the growth of the LiDAR market. However, environmental traits, such as clouds, rain, and snow, affecting the performance of LiDAR systems is the key restraints for the growth of the LiDAR market. The deployment of LiDAR components in the automotive sector and vertical forward integration are the major opportunities for the studied market.

Among the types of LiDAR, the market for solid-state LiDAR is expected to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the increasing range of applications of solid-state LiDAR in the automoive and robotics industries. In a solid-state LiDAR, the entire components, such as scanner and precision clock, are integrated on one or two chips to reduce its size and cost. The low cost of these systems enables combining two or more sensors to increase the area coverage and meet the specific requirements of the planned application.

The key market players profiled in this report are as follows: