The global light detection and ranging (LiDAR) market size was USD 1.32 billion in 2018 and is expected to hit USD 6.71 billion by 2026, exhibiting a CAGR of 22.7% during the estimated period. LiDAR is used in a wide range of applications including geomorphology, atmospheric physics, archaeology, geomatics, airborne laser swath mapping, and others.
This information has been furnished by Fortune Business Insights™ in its research report, titled “Light Detection and Ranging (LiDAR) Market, 2019-2026”.
The LiDAR (Light Detection and Ranging) market is a rapidly growing market, driven by the increasing demand for 3D imaging technology in various industries. LiDAR is a remote sensing technology that uses laser light to measure distances and create 3D models of objects and environments. The market for LiDAR is expected to grow at a significant rate due to the increasing adoption of LiDAR in various applications, such as autonomous vehicles, mapping and surveying, and environmental monitoring.
Segments:
Solid-State LiDAR to Register Substantial Growth Owing to Flexibility of Deployment Across Various Sectors
Based on type, the market is categorized into solid-state and mechanical LiDAR systems. Of these, the solid-state LiDAR segment is anticipated to record a commendable CAGR over the estimated period. The solution does not need any moving parts for functioning and is fabricated on a silicon chip, which favors its adoption across various sectors. Based on region, the industry is fragmented into Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.
List of Key Players Mentioned in the Report:
- Teledyne Technologies
- FARO Technologies, Inc.
- SICK AG
- Beijing SureStar Technology Co. Ltd.
- Trimble Inc.
- YellowScan
- HEXAGON
- RIEGL Laser Measurement Systems GmbH
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/light-detection-and-ranging-lidar-market-101969
Segmentation:
The LiDAR market can be segmented in various ways, depending on the criteria used. Here are some common ways to segment the market:
- Type of LiDAR: This segmentation is based on the type of LiDAR technology used. There are several types of LiDAR, including airborne LiDAR, terrestrial LiDAR, mobile LiDAR, and UAV LiDAR.
- Component: This segmentation is based on the various components of a LiDAR system, including lasers, receivers, GPS/INS systems, and others.
- Application: This segmentation is based on the various applications of LiDAR, such as automotive, aerospace and defense, mining, forestry, and others.
- Service: This segmentation is based on the various services offered in the LiDAR market, including LiDAR data processing, LiDAR surveying and mapping, and LiDAR consulting services.
- Range: This segmentation is based on the range of the LiDAR system, including short-range LiDAR, medium-range LiDAR, and long-range LiDAR.
- End-use industry: This segmentation is based on the various industries that use LiDAR technology, including transportation and logistics, construction, oil and gas, agriculture, and others.