LiDAR Technology Market | Global Industry Analysis &Trends 2017-2024

LiDAR Technology Market by Application, (Corridor Mapping, Exploration, Engineering, Seismology and Disaster Management, Automotive Vehicles,) by Products (Aerial LiDAR, Ground-based LiDAR, UAV LiDAR) by Components (Lasers, Micro-electro-mechanical, GPS/GNSS Receiver, Inertial Navigation) by Services (GIS, Ground-based Surveying, Mapping and Modeling, Asset Management) by Geography Analysis 2017-2024

Key Findings                                                                                                                           The global market for LiDAR technology is anticipated to expand at a CAGR of 12.71% during the forecast period of 2017-2024. Automation in LiDAR systems and demand for stronger security and sensor accuracy are the dominant drivers of the global LiDAR technology market.

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LiDAR Technology

Market Insights                                                                                                                     The LiDAR technology market is segmented on the basis of applications, products, components and services and geography. The LiDAR technology market by application is segmented into corridor mapping and engineering, exploration, seismology and disaster management, automotive vehicles and other applications. The product type is segmented into aerial LiDAR, ground-based LiDAR, and UAV LiDAR. The components are further segmented into lasers, micro-electro-mechanical systems, GPS/GNSS receiver, internal navigation and others. The services in LiDAR technology is further segmented into GIS services, ground based surveying, mapping, and modeling and asset management. The LiDAR technology market by geography is segmented into North America, Europe, Asia-pacific and rest of the world. increased use of drones in many applications, automation in LiDAR systems, high usage of LiDAR in engineering projects, demand for stronger security and sensor accuracy, government support for the adoption of LiDAR technology and LiDAR aided 3D technology transforming imaging are the primary drivers for the growth of the market.

Regional Insights                                                                                                                   The LiDAR technology market in North America is anticipated to hold the highest share by 2024. The major driving forces responsible for the proliferation of the LiDAR market are the abundant usage of LiDAR for geological survey, urban planning, and defense purpose. After U.S. and Canada, the UK and Germany are anticipated to be the developing markets for the LiDAR technology. The mentioned countries are anticipated to adopt most of the technological developments, compared to other geographic regions.

Competitive Insights                                                                                                             Major players in the LiDAR technology market are Blom, Autonomoustuff, Faro Technologies, Geodigital, Michael Baker International, Geokno India Pvt Ltd, Leica Geosystems, Mira Solutions, Topcon Positioning Systems Inc., Quantum Spatial, Riegl, Sick, Teledyne Optech, Trimble, Velodyne LIDAR and Quanergy Systems Inc.


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