Light Detection and Ranging (LiDAR) Market at a CAGR of 25.3% with Top Players | Trimble Inc. (U.S.), Leica Geosystems AG (Switzerland), Teledyne Optech (Canada), FARO (U.S.), SICK AG and More

The Global Light Detection and Ranging (LiDAR) Market is expected to reach USD 10.66 billion, and is expected grow at a CAGR of 25.3% during the forecast period to 2031, The market reports crafted by The Research Insights not only provide comprehensive insights into market scenarios like market value, growth rate, segmentation, and geographical coverage, but they also offer in-depth expert analysis. Additionally, these reports feature geographically represented production and capacity data for companies, network layouts of distributors and partners, thorough and updated price trend analysis, as well as deficit analysis of supply chain and demand.

Light detection and ranging (LiDAR) has become increasingly popular since the advent of GPS for precise geospatial measurements. According to the American Geosciences Institute, LiDAR employs a pulsed laser to determine varying distances between objects and the Earth's surface. The data gathered by airborne LiDAR systems, combined with light pulses, produces precise 3D information.

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Global Light Detection and Ranging (LiDAR) Market Dynamics:

Increasing demand for high-resolution mapping and surveying applications:
The surge in demand for detailed and accurate mapping in industries such as urban planning, forestry, and agriculture is a key driver. LiDAR's ability to provide high-resolution, three-dimensional data has fueled its adoption for applications like topographic mapping, infrastructure planning, and environmental monitoring.

Growing adoption in autonomous vehicles and smart city development:
The integration of LiDAR in autonomous vehicles for enhanced perception and navigation presents a significant growth opportunity. Furthermore, as smart city initiatives gain traction globally, LiDAR's role in urban planning, traffic management, and infrastructure development is likely to expand, creating new avenues for market growth.

Top Key Players:

Velodyne Lidar, Inc. (U.S.)
YELLOWSCAN (France)
GeoKno (India)
Phoenix LiDAR Systems (U.S.)
LeddarTech Inc. (Canada)
Quanergy Systems, Inc. (U.S.)
Innoviz Technologies Ltd. (Israel)
Trimble Inc. (U.S.)
Leica Geosystems AG (Switzerland)
Waymo LLC (U.S.)
Valeo (U.S.)
Ouster, Inc. (U.S.) and More

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North America leads the worldwide light detection and ranging (LiDAR) market, driven by widespread adoption of regulatory measures and mandates mandating the incorporation of automotive safety technologies in both light and heavy vehicles.

During the forecast period until 2031, Asia-Pacific is projected to experience substantial growth in the global light detection and ranging (LiDAR) market, attributed to increased investments by both local and international players in countries like China and India within the region.

Light Detection and Ranging (LiDAR) Market Segmentations:

By Component

Global Positioning System (GPS)
Inertial Measurement Unit (IMU)
Laser Scanners
Navigation and Positioning Systems
Others

By Technology

2D LiDAR
3D LiDAR
4D LiDAR

By Service

Point Cloud Classification
3D Visualization
Aerial Surveying
Asset Management
LiDAR Data Processing
Data Acquisition
others

By Application

Roadways
Railways
Others
Engineering
Corridor Mapping
Environment
Forest Management
others

Recent Developments:

In 2023, Leica Geosystems, a division of Hexagon, unveiled the Leica CountryMapper, expanding its hybrid sensor lineup with a highly efficient solution for large-area imaging and LiDAR mapping. By integrating a large-format photogrammetric camera with a high-performance LiDAR unit into a single system, the CountryMapper captures fundamental geospatial data concurrently, facilitating the creation of exceptionally precise data products to serve diverse customer needs.

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This release was published on openPR.