Market Size of Middle East and Africa LiDAR Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 15.64 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
MEA LIDAR Market Analysis
The Middle East and Africa LiDAR market are expected to grow at a CAGR level of 15.64% during the forecast period from 2020-2025. The growing demand for the automotive industry toward self-driving cars and electric vehicles in the region, are also influencing the growth of the LiDAR market. Self-driving cars increasingly use LiDAR sensors for generating huge 3D maps for 360° vision and for accurate information to assist in self-navigation and object detection.
- The rising GDP and the emerging middle-class group are driving automotive sales in the Middle East. The Saudi automotive market is the biggest market in this region. Almost 800,000 new cars are sold every year, along with nearly the same number of used cars being sold in the country.
- Additionally, The United Arab Emirates has already made inroads into the connected car sector. Etisalat and Nissan last year teamed up for the region's first related car deployment. Starting with the 2016 models of the Nissan Maxima and the Nissan Patrol MY16, Nissan pre-installs a small device within the car, connected via an Etisalat M2M SIM card.
- Saudi Arabia is actively reinvesting in modern defense, security, and infrastructure technologies, which is fuelling the growth of this market. In March 2020, the Saudi Authority for Industrial Cities and Technology Zones (MODON) signed a land-lease contract with INTRA Defense Technologies for the development of unmanned aircraft systems, depicting the increasing investments in the advanced technologies, which is anticipated to aid the market.
- Moreover, the ongoing COVID 19 pandemic has also impacted on the overall supply chain of this industry. For instance, Saudi Arabia's government 24-hour curfew also affected the production process of its domestic companies. However, the high cost of this product is restraining the overall growth of this market.
