LiDAR Market Share, Growth Revenue & Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "LiDAR Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global LiDAR market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the LiDAR Market?

The global LiDAR market size reached US$ 2.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.0 Billion by 2028, exhibiting a growth rate (CAGR) of 20.9% during 2023-2028.

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Light detection and ranging (LiDAR) is a specific type of remote sensing method that relies on light or pulsed laser to examine variable distances from the Earth. It comprises a laser, scanner, and a specialized global positioning system (GPS) receiver. It is commercially available in two variations, including topographic and bathymetric, which uses a near-infrared laser and water-penetrating light. It generates precise and three-dimensional information about the shape of the Earth and its surface attributes by combining the data recorded by the light pulses with other information gathered by the airborne system.

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What are the growth prospects and trends in the LiDAR industry?

At present, the increasing demand for LiDAR systems to measure seafloor and riverbed elevations and map the surface area of lands represents one of the primary factors influencing the market positively. Besides this, the rising utilization of LiDAR for analyzing water runoff for agriculture or mining sites is bolstering the growth of the market.

In addition, the growing adoption of 3D imagery in the military and defense sectors for accurately conducting topographical surveys is offering a favorable market outlook. Apart from this, the increasing integration of LiDAR in electric vehicles (EVs) and self-driving cars for global positioning systems (GPS) and navigation purposes is supporting the growth of the market.

Additionally, the rising employment of LiDAR for monitoring tropospheric pollution is strengthening the growth of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Installation Type:
• Airborne
• Terrestrial

Breakup by Component:
• Laser Scanners
• Navigation Systems
• Global Positioning Systems
• Others

Breakup by Application:
• Corridor Mapping
• Engineering
• Environment
• Exploration
• ADAS
• Others

Market Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Faro Technologies Inc, Innoviz Technologies Ltd., LeddarTech Inc., Leica Geosystems AG (Hexagon AB), NV5 Global Inc., Quanergy Systems Inc., RIEGL Laser Measurement Systems GmbH, Sick AG, Teledyne Technologies Inc, Trimble Inc., Valeo, Velodyne Lidar Inc.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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