Global LiDAR Market

 

The lidar market was valued at USD 1.5 Billion in 2020, and it is expected to reach a value of USD 3.7 Billion by 2027, at a CAGR of 13.20% over the forecast period (2022 - 2027).

Light Detection and Ranging (Lidar) is a tool that helps to determine, recognize and create virtual images of an object. It is thus the latest remote sensing equipment, which comes in both 2D and 3D formats. The tool is now used in various applications such as GIS mapping, construction, engineering, archaeology, etc. This market segment is witnessing tremendous growth mainly because of small-sized sensors on vehicles, which capture images efficiently. For instance, key players such as Velodyne, RoutesceneYellowScan, and Riegl have made huge investments in making small drones.Considering the functional capabilities of each of Lidar systems, the gadget can produce photos of the greatest quality. Hence, it's widely employed in a variety of industries, including automotive, healthcare, aerospace, and military. The growing demand for LiDAR owing tothe extensive applications will contribute to the growth of the global LiDAR market in the coming years.

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Key players in lidar market are:

  • Faro Technologies Inc.
  • Leica Geosystems Holdings AG
  • Trimble Navigation Limited
  • Velodyne LiDAR, Inc.
  • RIEGL USA Inc.
  • Sick AG
  • YellowScan
  • Hexagon
  • 3D laser mapping ltd

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Global lidar Market Segmentation

The Global lidar market is segmented based on Product, Application, Component, Technology, Type and Region. Based on Product it is categorized into: Airborne, Terrestrial, Mobile & UAV. Based on Application it is categorized into: Corridor Mapping, Engineering, Environment, Exploration, ADAS, Others. Based on Component it is categorized into: GPS, Navigation (IMU), Laser Scanners, Others. Based on Technology it is categorized into: 2D LiDAR, 3D LiDAR, 4D LiDAR. Based on region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

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