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.
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
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.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
