Overview and Scope
Light detection and ranging (lidar) software is software that processes data collected by lidar sensors, which use laser light to measure distances and create three-dimensional representations of the environment. It provides a longer-range alternative to vision-based systems for fully autonomous vehicles, helping them detect road markings, traffic signs, pedestrians, and other vehicles.
Sizing and Forecast
The lidar software market size has grown exponentially in recent years. It will grow from $0.33 billion in 2023 to $0.41 billion in 2024 at a compound annual growth rate (CAGR) of 23.0%. The growth in the historic period can be attributed to rising adoption in autonomous vehicles, environmental monitoring and research, urban planning and infrastructure development, precision agriculture, government initiatives and funding.
The lidar software market size is expected to see exponential growth in the next few years. It will grow to $0.87 billion in 2028 at a compound annual growth rate (CAGR) of 20.5%. The growth in the forecast period can be attributed to integration with artificial intelligence (AI) and machine learning (ml), expanding applications in 5g and telecommunications, rise of advanced driver assistance systems (adas), drone-based lidar solutions, emergence of smart cities. Major trends in the forecast period include increased accessibility through cloud-based solutions, advancements in lidar technology, advancements in sensor fusion, edge computing integration, regulatory compliance and standardization.
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Segmentation & Regional Insights
The lidar software market covered in this report is segmented –
1) By Product Type: Simulation Software, Mapping Software, Processing Software
2) By Technology Type: Mechanical, Solid State
3) By Deployment: Airborne, Terrestrial
4) By Application: Forestry And Environmental, Survey And Mapping, Automotive, Construction And Infrastructure, Other applications
North America was the largest region in the lidar software market in 2023. The regions covered in the lidar software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in automated vehicles and intelligent transportation systems is expected to propel the growth of the lidar software market going forward. An automated vehicle, also known as a self-driving car or autonomous vehicle, is a motor vehicle designed and constructed to move autonomously for certain periods without continuous driver supervision. Intelligent transportation refers to the use of advanced technologies to improve transportation systems' safety, efficiency, and sustainability. Lidar sensors offer high-resolution, 3D point cloud data, enabling automated vehicles to accurately detect and track objects such as vehicles, pedestrians, cyclists, and obstacles, ensuring a precise environmental representation for informed decision-making and the safety of occupants. For instance, in December 2022, according to the National Association of Insurance Commissioners, a US-based non-profit organization, the number of self-driving cars on American roads was predicted to reach 3.5 million by 2025. Additionally, 4.5 million autonomous vehicles are expected to be on the road by 2030. Therefore, the rise in automated vehicles and intelligent transportation systems is driving the growth of the lidar software market.
Key Industry Players
Major companies operating in the lidar software market report are Jabil Inc. , Aptiv plc, Trimble Inc. , Geo-Plus, Leica Geosystems AG, Faro Technologies Inc. , Shanghai Huace Navigation Technology Ltd. , Teledyne Optech, Velodyne LiDAR Inc., Luminar Technologies Inc., Blickfeld GmbH, Seoul Robotics, LeddarTech Inc., GreenValley International, Innoviz Technologies Ltd, Cepton Technologies Inc., GeoCue Group Inc.
, Quanergy Systems Inc., YellowScan, Routescene, Terrasolid Ltd., Aeva Inc., MatrixSpace, Neuvition Inc., Outsight SA, Phoenix LiDAR Systems
The lidar software market report table of contents includes:
1. Executive Summary
2. Lidar Software Market Characteristics
3. Lidar Software Market Trends And Strategies
4. Lidar Software Market - Macro Economic Scenario
5. Global Lidar Software Market Size and Growth
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32. Global Lidar Software Market Competitive Benchmarking
33. Global Lidar Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Lidar Software Market
35. Lidar Software Market Future Outlook and Potential Analysis
36. Appendix
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