The global light detection and ranging (LiDAR) market size was USD 1.32 billion in 2018 and is expected to hit USD 6.71 billion by 2026, exhibiting a CAGR of 22.7% during the estimated period. LiDAR is used in a wide range of applications including geomorphology, atmospheric physics, archaeology, geomatics, airborne laser swath mapping, and others.
This information has been furnished by Fortune Business Insights™ in its research report, titled “Light Detection and Ranging (LiDAR) Market, 2019-2026”.
List of Key Players Mentioned in the Report:
- Teledyne Technologies
- FARO Technologies, Inc.
- SICK AG
- Beijing SureStar Technology Co. Ltd.
- Trimble Inc.
- YellowScan
- HEXAGON
- RIEGL Laser Measurement Systems GmbH
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/light-detection-and-ranging-lidar-market-101969
Segmentation - Light Detection and Ranging (LiDAR) Industry:
AttributeDetailsType of ProductAirborne, Terrestrial, and OthersComponentLaser Scanners, Navigation & Positioning Systems, and OthersApplicationCorridor Mapping, Engineering, Environment, Exploration, Advanced Driver Assistance Systems (ADAS), and OthersEnd-userAerospace & Defense, Archaeology, Automotive, Forestry & Agriculture, and OthersGeographyNorth America, Europe, Asia-Pacific, and Rest of the World
Growth Drivers - Light Detection and Ranging (LiDAR) Market:
Some of the growth drivers for the Light Detection and Ranging (LiDAR) market include:
- Increasing demand for 3D imaging in various applications, such as mapping, surveying, and urban planning, which requires high-resolution and accurate data.
- Growing adoption of LiDAR technology in the automotive industry for Advanced Driver Assistance Systems (ADAS) and autonomous vehicles, which require precise and reliable sensing systems.
- Rising demand for LiDAR systems in the aerospace and defense industry for various applications, such as terrain mapping, obstacle avoidance, and target tracking.
- Advancements in LiDAR technology, such as increased range, accuracy, and reliability, as well as the development of lightweight and compact LiDAR systems, which are driving their adoption in various industries.
- Increasing government initiatives and investments in the development of LiDAR-based applications, such as smart cities and environmental monitoring, which are expected to drive the growth of the LiDAR market.