According to the latest analysis conducted by Reports and Data, the size of Light Detection and Ranging (LiDAR) market reached USD 2,061.7 Million in 2022. It is projected that the market will experience a compound annual growth rate (CAGR) of 12.5% during the forecast period. Several factors contribute to this growth, including the increased utilization of LiDAR systems in Unmanned Aerial Vehicles (UAVs), advancements in 4D LiDAR technology, and the relaxation of regulations concerning the use of commercial drones across various applications. Additionally, automotive giants investing in LiDAR startups, the long-term potential of Short-Wave Infrared (SWIR)-based designs, the adoption of solid-state, Microelectromechanical Systems (MEMS), flash LiDAR, and other LiDAR technologies, the development of enhanced geospatial solutions through sensor fusion, and government initiatives promoting the use of LiDAR drones for large-scale surveys are all anticipated to contribute to the market's revenue growth.
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Top Companies:
Teledyne Geospatial, Leica Geosystems AG, Xenomatrix, Riegl Laser Measurement Systems GmbH, Sick AG, SURESTAR, Yellowscan, Valeo, Trimble Inc, and NV5 Inc.
Light Detection and Ranging (LiDAR) Market Growth
· Autonomous Vehicles: LiDAR technology plays a crucial role in the development of autonomous vehicles by providing accurate 3D mapping and object detection capabilities. The growth of the autonomous vehicle industry was driving demand for LiDAR sensors and systems.
· Environmental Monitoring: LiDAR is used for environmental monitoring and conservation efforts, such as forest management, floodplain mapping, and coastline erosion assessment. These applications were leading to increased adoption of LiDAR technology.
· Agriculture and Forestry: LiDAR's ability to provide accurate terrain and vegetation data was being utilized in agriculture for precision farming and in forestry for forest inventory and management.
· Disaster Management: LiDAR was proving valuable in disaster management and response scenarios, such as assessing damage after natural disasters, creating flood risk models, and assisting in search and rescue operations.
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The global Light Detection and Ranging (LiDAR) market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Technology Outlook (Revenue, USD Million; 2019-2032)
- 2D
- 3D
- 4D
Component Outlook (Revenue, USD Million; 2019-2032)
- Laser Scanner
- Sensors
- Navigation and Positioning Systems
- Others
Type Outlook (Revenue, USD Million; 2019-2032)
- Solid-state
- Mechanical
Range Outlook (Revenue, USD Million; 2019-2032)
- Short
- Medium
- Long
Application Outlook (Revenue, USD Million; 2019-2032)
- Corridor Mapping
- Environment
- Engineering
- ADAS and Driverless Cars
- Law Enforcement
- Others
End-use Outlook (Revenue, USD Million; 2019-2032)
- Automotive
- Defense and Aerospace
- Healthcare
- Agriculture
- Mining
- Entertainment
- Others
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