Light Detection And Ranging (Lidar) Market Report Overview
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The global light detection and ranging (LIDAR) market size was USD 436.4 million in 2022 and is projected to touch USD 1089.46 million by 2031, at a CAGR of 10.7% during the forecast period.
Distances are measured using light detection and ranging (LiDAR). It produces measurements remotely using laser light in the form of pulses. In order to measure the distance, it essentially produces laser light beams and time how long it takes for them to return to the sensor. When this measurement is paired with other information, an accurate, three-dimensional image of the object can be created. Future developments are being facilitated by LiDAR sensors.
A technique called Light Detection and Ranging (LiDAR) uses a laser to target a surface or an object, and then measures how long it takes for the reflected light to reach the receiver. By adjusting the wavelength of the light, it can also be used to create digital 3-D renderings of regions on the Earth's surface and the ocean floor in the intertidal and nearby coastal zone. It has uses for the ground, the air, and mobile devices. "Laser imaging, detection, and ranging" or "light detection and ranging" are both abbreviated as "lidar." When 3-D scanning and laser scanning are combined, it is sometimes referred to as 3-D laser scanning.
"COVID-19 Impact: The COVID-19 Underlying Condition Crippled the Market Growth"
The global COVID-19 pandemic has been unprecedented and staggering, with the light detection and ranging (LIDAR) market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Since December 2019, the COVID-19 virus has spread to about numerous nations. The World Health Organization proclaimed it to be a public health emergency. The COVID-19 is already having an influence on the world and will have a major impact on the light detection and ranging (LIDAR) market growth in the long run. The report examines the impact of the outbreak on the light detection and ranging (LIDAR) market share, depending on how the pandemic pans out, the machinery and equipment companies are expected to face threats to their business models as well as significant opportunities for growth and trans-formative change.
Ground-based LiDAR to Gain Traction Due to Rising Usage in Corridor Mapping & Meteorology
Throughout the research period, the ground-based light detection and ranging (LiDAR) market is anticipated to have significant growth. The technology is widely used in a variety of applications, such as weather forecasting, driverless automobiles, and ADAS (Advanced Driver Assistance Systems). For the purpose of locating vertical foothills, scanning them, and creating projection analyses of them, ground-based solutions are used.
Light Detection And Ranging (Lidar) Market Segmentation
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- By Type
Based on type the light detection and ranging (LIDAR) market is classified as airborne LIDAR, terrestrial LIDAR and others.
Airborne LIDAR are the leading part of the type segment.
- By Application
Based on application the light detection and ranging (LIDAR) market is classified as civil engineering, forestry and agriculture, transportation, urban mapping and others.
Civil engineering is the leading part of the application segment.
"3D Laser Imaging Detection and Ranging to Attract the Market Share"
Over the course of the forecast period, the market is anticipated to rise as a result of the increased demand for 3D images in sectors such as military & defence,civil engineering, topographical surveys and corridor mapping. Applications like 3D mapping, corridor mapping and city planning use textured 3D imaging. Installing cutting-edge safety features is expanding tremendously. Both the scanning and non-scanning devices can produce 3-D images. A non-scanning laser ranging device called "3-D gated viewing laser radar" uses a pulsed laser and a quick gated camera.
Growing Demand for Aerial LiDAR Solutions to Surge the Market Demand
The booming demand for aerial systems from cartography and mapping for studying historical details and the discovery of new regions is primarily responsible for the expansion of the light detection and ranging (LiDAR) market. LiDAR's remarkable precision in detecting water runoff for mining or agricultural sites, inland waterflow, multiple climatic variations on slopes, and other phenomena is one of its key characteristics.
"The Lack of Awareness and Educated Customers and to Restrain the Market from Product Utilization"
One of the biggest obstacles to the market's expansion is thought to be the lack of educated consumers. To lower the expenses of implementing and planning such customer awareness and education programmes, determining the breadth of customer education is crucial. Customer awareness and education are essential for enhancing people's ability to handle environmental and development challenges and for promoting sustainable development.
Light Detection And Ranging (Lidar) Market Regional Insights
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"The North American region to Lead the Market With Presence of Prominent Manufacturers"
Due to the growing acceptance of administrative requirements requiring the installation of specific automotive safety systems for both lightweight and heavyweight vehicles across the region, North America region ruled the market in 2021 with a revenue share of 36.6%. AEB and ADAS (Advanced Driver Assistance Systems) are two technologies that have seen increased adoption in North America, creating potential opportunities in the automotive industry. The market growth is enhanced corresponding to the factors such as implementation and developments of advanced technology in verticals including aerospace, healthcare, automobiles and other sectors. The North American region results in stimulating the light detection and ranging (LIDAR) market growth.
KEY INDUSTRY PLAYERS
"Prominent Manufacturers to ""Contribute Towards Expansion of Market"
The report is an extensive research which presents the historic and futuristic performance of industry with competitive landscape analysis which incorporates prominent key players ,and revenue trends of industry. The report provides substantial analysis of company profiling, growth insights, supply-demand chain, production and consumption demand, business expansion strategies adopted by top key players. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and other factors.
List of Market Players Profiled
- Leica Geosystems (Switzerland)
- Trimble (U.S.A)
- Teledyne Optech (Canada)
- Riegl (Austria)
- Topcon (Japan)
- Velodyne LiDAR (U.S.A)
- 3D Laser Mapping (U.K)
- IGI (Belgium)
- Sure Star (U.S.A).
- INDUSTRY DEVELOPMENT
"October 2019"":" Launched by RIEGL Laser Measurement Systems GmbH, the airborne LiDAR for UAVs is lightweight. The majority of UAV-based applications that call for the collection of small objects use this miniature UAV sensor.
"September 2021"": "YellowScan, a French company that designs UAV LiDAR solutions, has made the announcement of YellowScan Explorer's release. It might be attached to a small, human-piloted aircraft or moved to various UAV platforms. It enabled end users to work on a variety of projects.
The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.
Market Size Value In
US$ 436.4 Million in 2022
Market Size Value By
US$ 1089.46 Million by 2031
CAGR of 10.7% from 2022 to 2031
Historical Data Available
Type & Application
Frequently Asked Questions
What value is the light detection and ranging (LIDAR) market expected to touch by 2031?
The global light detection and ranging (LIDAR) market is expected to reach USD 1089.46 million by 2031.
What CAGR is the light detection and ranging (LIDAR) market expected to exhibit by 2031?
The light detection and ranging (LIDAR) market is expected to exhibit a CAGR of 10.7 % by 2031.
Which are the driving factors of the light detection and ranging (LIDAR) market?
3D laser imaging detection and ranging and growing demand for aerial lidar solutions are the driving factors of the light detection and ranging (LIDAR) market.
Which are the top companies operating in the light detection and ranging (LIDAR) market?
Leica Geosystems, Trimble, Teledyne Optech, Riegl, Topcon, Velodyne LiDAR, 3D Laser Mapping, IGI, Sure Star and others.