Global LiDAR Software Market to 2031: Rising Demand for LiDAR Solutions in Surveying and Mapping Drives Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "LiDAR Software Market - A Global and Regional Analysis: Focus on Product, Application, and Country Analysis - Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.

The global LiDAR software market was valued at $335.4 million in 2022 and is anticipated to reach $1,940.2 million by 2031, witnessing a CAGR of 21.53% during the forecast period 2022-2031.

The growth in the LiDAR software market is expected to be driven by an increasing focus on advanced LiDAR solutions for improvement in existing advanced driver assistance systems (ADAS) features in the automotive industry, growing demand for LiDAR solutions in surveying and mapping, and rising adoption of LiDAR solutions for streamlining construction projects.

Market Lifecycle Stage

The LiDAR software market is in a growth phase, wherein the number of companies offering LiDAR software solutions is increasing rapidly. Latest technological advancements in LiDAR hardware and software are helping to reduce the cost of such solutions, which in turn is boosting the adoption of LiDAR solutions across the globe.

LiDAR software solution providers are increasingly partnering with other key stakeholders in the LiDAR software ecosystem to expand their global footprint.

Moreover, the growing need for affordable and user-friendly LiDAR software solutions is one of the primary factors shaping the LiDAR software industry. Leading LiDAR hardware solution providers have been working on bolstering their capabilities related to the production of LiDAR software solutions in-house to provide an extra or added advantage for their offerings.

With significant demand for LiDAR solutions being anticipated over the coming years during the forecast period, primarily from automotive and smart infrastructure applications, cut-throat market competition is expected among established and emerging LiDAR software solutions market in the LiDAR software industry.

Recent Developments in the LiDAR Software Market

• In January 2023, Quanergy Systems, Inc. launched a LiDAR-based hyper-accurate mantrap tailgating solution. This mantrap solution comprises the company's perception software and MQ-8 series LiDAR sensors.
• In December 2022, LeddarTech Inc. entered into a development and commercial partnership agreement with Ficosa International S.A., a Spain-based multinational corporation involved in the R&D and production of automotive components and systems. Under the terms of this agreement, Ficosa is to integrate the former's LeddarVision software solution into its own ADAS solution for parking.
• In December 2022, Innoviz Technologies Ltd entered into a partnership agreement with Outsight SA, a Paris (France)-based start-up company that specializes in real-time 3-D situation awareness solutions. Under this partnership agreement, Innoviz's LiDAR InnovizOne is to be integrated with the processing software solution of the latter, thereby enabling 3-D localization and perception capabilities for LiDAR solutions used in automotive, industrial, and smart city applications.
• In December 2022, Blickfeld GmbH established a new branch office in Shanghai (China) with an aim to expand its global footprint and offer its solutions to its target customers in China, one of the major markets for LiDAR solutions.
• In October 2022, Velodyne LiDAR, Inc. acquired Bluecity, a Canada-based AI software provider that primarily offers advanced LiDAR solutions addressing infrastructure, safety, and traffic issues.

Key Attributes:

Report Attribute	Details
No. of Pages	199
Forecast Period	2022 - 2031
Estimated Market Value (USD) in 2022	$335.4 Million
Forecasted Market Value (USD) by 2031	$1940.2 Million
Compound Annual Growth Rate	21.5%
Regions Covered	Global

Market Dynamics

Drivers

• Increasing Focus on Advanced LiDAR Solutions for Improvement in Existing Advanced Driver Assistance System (ADAS) Features in the Automotive Industry
• Growing Demand for LiDAR Solutions in Surveying and Mapping
• Rising Adoption of LiDAR Solutions for Streamlining Construction Projects

Restraints

• High Cost of LiDAR Solutions
• Availability of Alternative Cost-Effective Solutions
• LiDAR Software Complexity in Autonomous Vehicles

Opportunities

• Deployment of LiDAR Solutions in Smart Infrastructure
• Growing Focus on Sophistication in 3-D Perception Software for LiDAR Solutions

Key Companies Profiled

Private Companies

• Phoenix LiDAR Systems
• Terrasolid
• GreenValley International
• Geo-Plus
• GeoCue
• Routescene
• YellowScan
• LeddarTech Inc.
• Blickfeld GmbH

Public Companies

• Velodyne LiDAR, Inc.
• Shanghai Huace Navigation Technology Ltd. (CHC Navigation)
• Leica Geosystems AG - Part of Hexagon AB
• Quanergy Systems, Inc.
• Innoviz Technologies Ltd
• Teledyne Geospatial

Key Start-Ups in the LiDAR Software Ecosystem

• Seoul Robotics
• Neuvition, Inc.
• MatrixSpace
• Aeva Inc.
• Outsight SA

Market Segmentation

Segmentation 1: by Application

• Forestry and Environmental
• Survey and Mapping
• Automotive
• Construction and Infrastructure
• Others

Segmentation 2: by Technology Type

• Mechanical
• Solid State

Segmentation 3: by Product Type

• Simulation Software
• Mapping Software
• Processing Software

Segmentation 4: by Deployment

• Airborne
• Terrestrial

Segmentation 5: by Region

• North America
• Europe
• U.K.
• China
• Asia-Pacific and Japan
• Rest-of-the-World

For more information about this report visit https://www.researchandmarkets.com/r/u9cebk

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.