LiDAR Market Growth, Size, Share, Industry Report and Forecast to 2025

The global LiDAR market is valued at $720 million in 2019 and is expected to reach $2.9 billion by 2027 and is expected to grow at a CAGR of 19% from 2019 to 2025.

Increasing surveying and excavation activities worldwide is driving the demand for advanced mapping solutions such as LiDAR. LiDAR technology provides a vast amount of accurate, high-quality information for a variety of applications. It provides much more accurate and high-resolution images compared to other conventional methodologies such as aerial mapping. The advent of LiDAR technology has brought a paradigm shift in the terrain mapping environment as it has been widely used in a variety of applications such as floodplain mapping, forest inventory, hydrology, topography, landscape ecology, survey evaluation, coastal engineering, and volumetric measurement. Calculation. All of these applications use LiDAR technology to analyse, manage, visualize and distribute data to complement the growth of the LiDAR market

Solid-state LIDAR technology is gaining a lot of attention among automakers around the world because it is faster and more cost-effective than traditional LiDAR solutions. Solid state technology can reduce the cost of a single LiDAR device to less than $100. Significant price cuts of these LiDAR devices could exponentially accelerate the development of autonomous technologies. Currently, the expensive nature of LiDAR hardware is a major factor impeding adoption of the large LiDAR market. The global LiDAR market is valued at $720 million in 2019 and is expected to reach $290 billion in 2027, growing at a CAGR of 20.1. % From 2020 to 2027. Scale manufacturing of autonomous vehicles.

A full report of LiDAR Market is available at: https://www.orionmarketreports.com/lidar-light-detection-and-ranging-market/23117/

The scope of the report covers detailed information regarding major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the LiDAR market. A detailed analysis of the key industry players has been carried out to provide insights into their business overviews, product offerings, and key strategies, such as product launches and developments, partnerships, agreements, expansions, acquisitions, contracts, alliances, associated with the LiDAR market.

Top Impacting Factors

Key impacting factors identified include deployment of automated systems in LiDAR systems, increase in applications of LiDAR, and rise in demand for LiDAR in 3D imaging. In addition, rise in consumer awareness along with higher technological performance of LiDAR over alternatives technologies plays significant role in the LiDAR market growth. All the factors collectively create LiDAR market opportunity, however, lack of awareness regarding LiDAR systems restrict the growth of the market. Thus, each factor is expected to have a definite impact on the LiDAR market share.

LiDAR Market Key Segments:

By Type

• Terrestrial
• Aerial
• Mobile
• Short Range

By Component

• LASER
• Inertial Navigation System
• Camera
• GPS GNSS Receiver
• MEMS

By Application

• Corridor Mapping
• Seismology
• Exploration & Detection
• Others

By End User

• Defense & Aerospace
• Civil Engineering
• Archaeology
• Forestry & Agriculture
• Mining
• Transportation

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by LiDAR Market Report

• What was the LiDAR Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2019-2025).
• What will be the CAGR of LiDAR Market during the forecast period (2019-2025)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2019-2025)?
• Which manufacturer/vendor/players in the LiDAR Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.

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Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.