LiDAR for Security Market Size Estimated to Grow at a CAGR of 14.9% During 2021-2026

September 14 15:14 2021
LiDAR for Security Market Size Estimated to Grow at a CAGR of 14.9% During 2021-2026
LiDAR for Security Market
Advancements in Technologies and Rising Development of Advanced LiDAR Such as 4D LiDAR and Others Driving the LiDAR for Security Market

Global LIDAR for Security Market size was valued at $304.2 million in 2020, and it is estimated to grow at a CAGR of 14.9% during 2021-2026. LiDAR stands for light detection and ranging or it can also be defined as laser imaging detection and ranging It is a remote sensing method in which light is used in the form of a laser to measure variable distances to the earth. It is a combination of 3D scanning and laser scanning hence sometimes it can be defined as 3D laser scanning. LiDAR can be segmented into three types they are Solid-State LiDAR, Airborne LiDAR, and Terrestrial LiDAR. Growing demand for high security application in various industries such as aerospace, defense, topographical survey, laser altimetry and geospatial has been driving 3D laser scanning using LiDAR based devices. Advancements in technologies particularly LIDAR Radar and airborne laser swath mapping and high investments for advanced security applications further enhance the overall market demand for LIDAR for Security industry during the forecast period 2021-2026. It provides readings of the terrain and of points on the ground by measuring the timing and intensity of returning pulses. This technology uses rapid laser pulses to create digital terrain maps.

LIDAR for Security Market Segment Analysis – By Type

Airborne segment held major market share 30.6% in 2020 owing to increasing adoption of aerial mapping devices across the globe. The topographic LiDAR devices have high demand due to their security applications. This type of LiDARs are used in various applications such as location mapping, emergency management, and disaster planning to increase security. This type LiDAR is widely used for high resolution topographic data acquisition with high accuracy in applications such as forest, geospatial and others. There has been growing demand for airborne LiDAR technology as it is used in large scale investigations of micro-topography, thereby driving the market. Some of the benefits of using LiDAR technology are the ability to capture large amounts of area in a relatively small amount of time and low requirement of manual labor. LiDAR mapping system uses the most convenient technique to cover or scan the area which is called as drone lidar survey. LiDAR systems collect information by sending thousands of pulses of light per second and by calculating the time it takes for the pulse to reach the LiDAR sensor. This results in the accurate analysis and 3D description of geometric structures.

LIDAR for Security Market Segment Analysis – By End User

Aerospace & Defense is the fastest growing segment in the global LiDAR for Security market and estimated to grow at a CAGR of 16.5% through 2026. In Defense sector, LiDAR is major used for border surveillance thereby enhancing the security in this sector. According to Stockholm international peace research institute (SIPRI), the worldwide expenditure on military has been increased from $1,715 billion to $1,864 billion during 2016-2019 period. In aerospace and defense sector, there has been growing adoption of LiDAR for security applications as they provide higher bandwidth secure communications.

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LIDAR for Security Market Segment Analysis – By Geography

North America dominated the LiDAR for Security market in 2020 with a share of 36.5%, followed by Europe and APAC. According to SIPRI, the military expenditure has been increased from $623.9 billion to $691.3 billion during 2016-2019 period. Increasing military expenditure coupled with advancements in technologies has been driving the LiDAR for security industry in this region. Additionally, the strong financial position allows it to invest heavily in the adoption of tools and technologies for ensuring effective security operations. Many of the major players are headquartered in North America region which set to drive the LIDAR for Security market.

LIDAR for Security Market Drivers

Advancements in technologies and rising development of advanced LiDAR such as 4D LiDAR and others

The growing demand for 3D imaging systems and automation of LiDAR systems drive the market. Increased automated processing capability of LiDAR systems include image solutions and data processing. This helps in adoption of various applications. In 2019, Aeva has developed its first 4D LiDAR chip for autonomous driving. Integration with advanced technology such as artificial intelligence and increasing investment on development of advanced products drive the market.

Demand for Stronger Security and Sensor Accuracy in various end user applications

There has been stronger security and sensor accuracy. There has been growing demand for aerial LiDAR sensors. There has been growing demand for LiDAR for security applications in geospatial, forest, and military, aerospace, marine and others. For instance, in Geospatial domain, this device assists in providing direct observation data for landscape analysis. It mainly deals with applications such as surface land collapse, landslide and fault structure extraction. Increasing applications of LiDAR for security in various domains set to drive the market.

LIDAR for Security Market Challenges

High Cost of DevicesOne of the major challenge for LIDAR for Security is high cost of devices. As there is increase in modern generation and technology, lack of awareness and knowledge in operating the devices have been restricting the market. Sensors used in LiDAR ranges from $1,500 to $15,000. However investments in research and development activities and high competition might provide opportunities for LiDARs in affordable prices.

LIDAR for Security Market Landscape

Product Launches, acquisitions and R&D activities are key strategies adopted by players in the LiDAR for Security market. LIDAR for Security top 10 companies include Faro Technologies, Airborne Hydrography AB, Leica Geosystems, Hexagon, Trimble, SICK AG, Velodyne LiDAR, RIEGL, YellowScan, and among others.

Acquisitions/Technology Launches

In April 2021, LeddarTech Introduced the Leddar Sight Solid-State Flash LiDAR Sensor for Challenging Environments.

In August 2019, Velodyne LIDAR introduced a new LIDAR sensor, the Puck 32MR, to address key markets in the autonomous industry. This product offers a cost-effective perception solution for low speed autonomous markets including industrial vehicles, robotics, shuttles and unmanned aerial vehicles (UAVs). The Puck 32MR bolsters Velodyne’s robust portfolio of patented sensor technology, delivering rich perception data for mid-range applications.

Key Takeaways

North America had dominated the LIDAR for Security market in 2020 owing to early adoption of advanced technologies and high investments in research and development activities.

Adoption of airborne LiDAR for topographical survey has been driving the market for high security as airborne LiDAR swath mapping imaging is highly used in geospace applications.

Innovation in technologies and integration of event planning software with Artificial Intelligence (AI) technology is set to boost the LIDAR for Security market.

High cost of devices hamper the growth of LiDAR for Security industry.

Relevant Reports

A. LiDAR Market

https://www.industryarc.com/Report/15765/lidar-market.html

B. LiDAR Drone Market

https://www.industryarc.com/Research/LiDAR-Drone-Market-Research-505394

For more Automation and Instrumentation Market reports, please click here

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