Light Detection and Ranging Market is estimated to be US$ 5.0 billion by 2030 with a CAGR of 13.1% during the forecast period

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Published Date: May 2024

Lidar (Light Detection and Ranging) is a remote sensing technique that uses light in the form of a pulsed laser to detect ranges (distances) to the Earth. A laser, a scanner, and a specialised GPS receiver are the main components of a lidar apparatus. Aeroplanes and helicopters are the most common platforms for gathering lidar data over wide areas. Lidar devices can be used by scientists and mapping professionals to evaluate both natural and constructed environments with accuracy, precision, and flexibility. NOAA scientists are using lidar to develop more accurate shoreline maps, digital elevation models for use in geographic information systems, and to assist in emergency response operations.Light Detection and Ranging market accounted for US$ 1.5 billion in 2020 and is estimated to be US$ 5.0 billion by 2030 and is anticipated to register a CAGR of 13.1%.

The report "Light Detection and Ranging (LiDAR) Market, By Product type (Terrestrial LiDAR, Airborne LiDAR and Others), By Component (GPS, Laser scanner and Navigation), By Application (Environment, Corridor Mapping, Engineering and ADAS & Driverless Cars), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis, and Forecast till 2030”

Key Highlights:

In May 2020, Teledyne Optech signed an agreement with Aerial Surveys International (ASI), a US-based leading aerial imagery and lidar acquisition firm. Under this agreement, Teledyne sold its Galaxy T2000 and upgraded ASI’s existing Galaxy Prime to Galaxy T2000 with G2 Sensor System. This will enhance ASI’s data acquisition capabilities.
In January 2020, Quantum Spatial strengthened its position in the global LiDAR market by adding a new sensor platform to its product portfolio. The new sensor is designed to collect data more efficiently, which would lead to high density, high resolutions, and highly accurate results.

Analyst View:

Increased demand for 3D pictures in various application areas such as military and defense, topographical surveys, civil engineering, and corridor mapping is expected to boost the market throughout the forecast period. LiDAR captures millions of such precise distance measurement points every second, allowing it to create a 3D matrix of its surrounds. This detailed environment mapping can be used to collect data on the location, shape, and behavior of objects.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Light Detection and Ranging (LiDAR) Market, By Product type (Terrestrial LiDAR, Airborne LiDAR and Others), By Component (GPS, Laser scanner and Navigation), By Application (Environment, Corridor Mapping, Engineering and ADAS & Driverless Cars), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030

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Key Market Insights from the report:

Light Detection and Ranging market accounted for US$ 1.5 billion in 2020 and is estimated to be US$ 5.0 billion by 2030 and is anticipated to register a CAGR of 13.1%. Light Detection and Ranging Market is segmented based on the product type, component, application, and region.

By Product type, the Light Detection and Ranging Market is segmented into Terrestrial LiDAR, Airborne LiDAR and Others.
By Component, the market is segmented into GPS, Laser scanner and Navigation.
By Application, the Light Detection and Ranging Market is segmented into Environment, Corridor Mapping, Engineering and ADAS & Driverless Cars.
By region, the Light Detection and Ranging Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating the Light Detection and Ranging Market.

Competitive Landscape:

The key players operating in the Light Detection and Ranging Market include Faro Technologies Inc., Leica Geosystems Holdings AG, Trimble Navigation Limited, Velodyne LiDAR, Inc., and RIEGL USA Inc. The market’s many competitors are challenged to develop novel services that assist consumers in addressing evolving technology, corporate practises, and security requirements.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning.
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period.

Key Topics Covered