Mapping Momentum: Assessing the Growth Drivers of the LiDAR Market

Posted April 9, 2024 by Prashantvi

LiDAR Market by Component (Laser Scanners, Navigation and Positioning Systems, Other Components), Installation (Airborne, Ground-based), Service, Region - Global Forecast to 2029

The LiDAR market is projected to grow from USD 1.6 billion in 2024 to reach USD 3.7 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 18.2% from 2024 to 2029.The growth of the LiDAR market is driven by surge in the demand for 3D imagery in application areas, rise in the development of smart cities and infrastructure projects, emergence of 4D LiDAR, rising adoption of LiDAR systems in UAVs.

LiDAR (Light Detection and Ranging) technology has emerged as a powerful tool for capturing precise three-dimensional information about objects and environments. In this article, we explore the diverse applications, trends, and growth prospects across airborne and ground-based segments of the LiDAR market.

1. Airborne LiDAR:
Airborne LiDAR systems, mounted on aircraft or drones, are widely used for capturing high-resolution topographic data over large areas. Key applications include:

Mapping and Surveying: Airborne LiDAR is extensively utilized for topographic mapping, land surveying, and terrain modeling in sectors such as urban planning, infrastructure development, and natural resource management.
Environmental Monitoring: Airborne LiDAR facilitates the monitoring of vegetation, water bodies, and coastal areas, enabling environmental assessments, forest inventory, and habitat mapping.
Disaster Management: Airborne LiDAR plays a crucial role in disaster response and mitigation efforts by providing rapid and accurate terrain data for assessing damage, planning relief operations, and mitigating risks.
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2. Ground-Based LiDAR:
Ground-based LiDAR systems, mounted on tripods or vehicles, are deployed for detailed and localized scanning of objects and structures. Key applications include:

Engineering and Construction: Ground-based LiDAR is used for site planning, building documentation, as-built surveys, and construction quality control, enhancing efficiency and accuracy in engineering projects.
Archaeology and Cultural Heritage: Ground-based LiDAR enables the documentation and preservation of cultural heritage sites, archaeological excavations, and historical monuments with high precision and detail.
Urban Development: Ground-based LiDAR supports urban planning, infrastructure management, and transportation planning by providing detailed 3D data of streetscapes, buildings, and utilities.
3. Trends in the LiDAR Market:
Several trends are shaping the evolution of the LiDAR market:

Miniaturization and Cost Reduction: Advances in LiDAR sensor technology are driving miniaturization and cost reduction, making LiDAR systems more compact, affordable, and accessible across industries.
Integration with Other Technologies: LiDAR is increasingly integrated with other technologies such as photogrammetry, GNSS (Global Navigation Satellite System), and AI (Artificial Intelligence), enabling enhanced data processing, fusion, and analysis.
Rise of Mobile LiDAR: Mobile LiDAR systems mounted on vehicles are gaining traction for applications such as transportation planning, infrastructure monitoring, and autonomous driving, offering rapid and efficient data collection capabilities.
Expansion of Applications: The LiDAR market is witnessing the expansion of applications beyond traditional sectors, including agriculture, forestry, utilities management, and indoor mapping, driven by the demand for spatial intelligence and digital twins.

The report profiles key players in the LiDAR market with their respective market ranking analysis. Prominent players profiled in this report include Leica Geosystems AG (Sweden), Trimble Inc. (US), Teledyne Optech (Canada), FARO Technologies, Inc. (US), RIEGL Laser Measurement Systems GmbH (Austria), Sick AG (Germany), NV5 Geospatial (US), Beijing SureStar Technology Co. Ltd. (China), Ouster (Velodyne Lidar, Inc.) (US), YellowScan (France), Leishen Intelligent System Co., Ltd. (China), SABRE Advanced 3D Surveying Systems (Scotland), Hesai Technology (China), RoboSense (China).

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Issued By marketsandmarkets
Country United States
Categories Electronics
Tags lidar market
Last Updated April 9, 2024