Global LiDAR Market size is projected to be valued 1.6 Billion by 2024; with a CAGR of 20.6% from 2017 to 2025. Light Detection and Ranging, is a remote sensing technology, which uses light in the form of pulsed laser to measure various targets. LiDAR is commonly used in making high resolution maps with increased application in geology, seismology, archaeology, geography, forestry, airborne laser swath mapping (ALSM) and among others.
Rising technological advancements, increasing use of drones and adoption of LiDAR in various government sectors are expected to drive the LiDAR market. Moreover, development in driverless cars and rise in 3D printing is also expected to fuel the market. However lack of skilled personals and high cost of the instrument may hinder the growth of the market. Untapped markets in developing countries could provide an opportunity for the market.
The LiDAR market is segmented based on the product, component, end-user, application and geography. Product can be segmented into terrestrial, aerial, mobile, and short range. Component type is further segmented into laser, inertial navigation system, Camera, GPS/GNSS receiver, and Micro electro mechanical system. Furthermore, application is segmented into Corridor mapping, Seismology, Exploration and Detection and Others. End-user can be segmented into defense and aerospace, civil engineering, archaeology, forestry and agriculture, mining industry and transportation.
By geography the market is segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, United Kingdom, Spain and others. Asia-Pacific covers China, India, Japan, South Korea and others. Rest of the World (RoW) covers South America, Middle East and Africa.
The key market players include 3D Laser Mapping, Quantum Spatial, Airborne Imaging Inc., Avent LiDAR technology, Hokuyo Automatic Co Ltd., Velodyne LiDAR, Quanergy, Phoenix Aerial Systems, GeoDigital and Leica GeoSystems AG.
The report covers
Scope of the Global LiDAR Market
Product Type Segments
Component Type Segments