Light Detection and Ranging (LiDAR) Market to Record CAGR of 18.2% Over 2025-2032; Rise in Autonomous Vehicles Operations to Spur Market Growth

The global Light Detection and Ranging (LiDAR) market size was valued at USD 2.63 billion in 2024 and is predicted to reach USD 3.01 billion in 2025. The market is anticipated to touch USD 9.68 billion by 2032, recording a CAGR of 18.2% over 2025-2032.

Fortune Business Insights™ presents this information in its latest report titled “Light Detection and Ranging (LiDAR) Market Size, Share & Industry Analysis, By Component (Hardware and Software), By Type (Mechanical and Solid-state), By Deployment (Ground-based and Airborne), By Range (Short Range, Medium Range, and Long Range), By Industry (Automotive, Aerospace and Defense, Smart Infrastructure, Environment Sector, Oil and Gas, and Others), and Regional Forecast, 2025–2032”.

Light detection and ranging is an advanced remote sensing technology that employs laser pulses to calculate distances to the Earth’s surface. The rising demand for precise data acquisition in industries such as autonomous vehicle development and other sectors is fueling the expansion of the LiDAR market.

Supply Chains Instability and Infrastructure Slowdown Reduced Demand During War

The Russia-Ukraine conflict significantly impacted global supply chains, causing delays, shortages, and rising costs for raw materials and components. Ukraine’s role as a major producer of electronic components is compromised, affecting manufacturing and supply chain stability. Instability from war discourages investment and slows infrastructure projects, which may reduce the demand for technology such as light detection and ranging.

LeddarTech Holdings Inc. Partners with Solid State LiDAR Protection Inc. to Advance Automotive Technology

In October 2024, LeddarTech Holdings Inc., an automotive software company specializing in AI-driven sensor fusion and perception technology, announced the successful finalization of a strategic licensing agreement with Solid State LiDAR Protection Inc. The company’s patented software, LeddarVision™, enhances advanced driver assistance systems (ADAS), autonomous driving (AD), and parking solutions, delivering cutting-edge performance and safety.

Rise in Autonomous Vehicles Operations to Spur Market Growth

Ground-based systems are widely used in various fields, such as unmanned aircraft systems, advanced driving assistance, and precise measurement. As these technologies become more common, demand for them is expected to rise. In the construction sector, these solutions create accurate 3D models of buildings and cities. Major companies lead the market by creating innovative imaging and ranging systems for different applications. Nations such as the U.S., Japan, and China have allowed autonomous vehicles to operate independently. These vehicles use advanced technology to detect objects very precisely, creating detailed 4D models of their surroundings. All these factors contribute to the Light Detection and Ranging (LiDAR) market growth.

However, the market’s growth is restricted by the widespread availability of affordable and lightweight photogrammetry systems.

Key Players to Adopt Various Strategies Approaches to Foster Market Growth

Numerous prominent regional and global entities are actively engaged in developing innovative strategies to gain a competitive edge. A significant number of firms operating in the global light detection and ranging market are pursuing mergers, acquisitions, partnerships, and collaboration approaches to foster market expansion.

Notable Industry Development:

• January 2024 - Hesai Technology, a leading Lidar company, obtained a contract for designing LiDAR systems for Advanced Driver Assistance Systems (ADAS) from an international OEM. This contract entails the provision of advanced long-range sensors for new flagship electric vehicle models that are about to begin mass production.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/light-detection-and-ranging-lidar-market-101969

List of the Companies Profiled in the Report:

• FARO Technologies, Inc. (U.S.)
• Hexagon AB (Sweden)
• Innoviz Technologies Ltd. (Israel)
• LeddarTech Inc. (Canada)
• Leica Geosystems (Switzerland)
• Ouster Inc. (U.S.)
• Sick AG (Germany)
• Teledyne Technologies (U.S.)
• Trimble Inc. (U.S.)
• Valeo S.A. (France)

Further Report Findings

• The North America region is anticipated to lead and grow at the fastest pace in the coming years. This growth is driven by the rise in new businesses, increased adoption of core 3D and 4D technologies, and the growing implementation of solid-state systems across various industries, including automotive, smart infrastructure, mapping, and surveillance.
• The Asia Pacific region is anticipated to secure the second-largest Light Detection and Ranging (LiDAR) market share during the forecast period. The region’s market growth is supported by the heightened demand for vehicles featuring automated driving technology.
• On the basis of type, the mechanical segment held the leading position in the market for light detection and ranging in 2024 due to its growing application in automotive imaging systems for Advanced Driving Assistance Systems (ADAS). Mechanical systems are highly preferred for their reliability and precision, making them a popular choice for self-driving vehicles.

Table of Segmentation