WESTFORD, Mass., Aug. 1, 2024 /PRNewswire/ -- According
to SkyQuest, the global LiDAR Market size was valued at
USD 1.5 Billion in 2022 and is poised
to grow from USD 1.7 Billion in 2023
to USD 4.83 Billion by 2031, growing
at a CAGR of 13.8% in the forecast period (2024-2031).
LiDAR (Light Detection and Ranging) technology has emerged in
popularity quite recently owing to its advanced application scope
in multiple industry verticals. The growing use of LiDAR technology
in autonomous vehicles and mapping applications is projected to
bolster market growth in the future. Rising investments in the
R&D of novel LiDAR technologies will also foster new
opportunities for market players going forward. The global LiDAR
market is segmented into LiDAR technologies, component, type,
installation, range, service, end-use application, and region.
Download a detailed
overview:
https://www.skyquestt.com/sample-request/lidar-market
Lidar Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 1.7
Billion
|
Estimated Value by
2031
|
$ 4.83
Billion
|
Growth Rate
|
Poised to grow at a
CAGR of 13.8%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
LiDAR Technologies,
Component, Type, Installation, Range, Service, End-use Application,
and Region
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Latin America, and Middle East and Africa.
|
Report
Highlights
|
Advancements in LiDAR
technologies and its application scope expansion
|
Key Market
Opportunities
|
Growing investments in
the development of autonomous vehicles
|
Key Market
Drivers
|
High use of LiDAR for
mapping and surveying in agricultural and construction
settings
|
Segments covered in Lidar Market are as
follows:
- LiDAR Technologies
-
- Component
-
- Laser Scanners, Navigation & Positioning Systems (GPS,
IMU), and Others
- Type
-
- Mechanical, and Solid-state
- Installation
-
- Airborne (Topographic, Bathymetric Lidar), and Ground-based
(Mobile, Static)
- Range
-
- Short (0–200 M), Medium (200–500 M), and Long (Above
500 M)
- Service
-
- Aerial Surveying, Asset Management, Geographic Information
System (GIS) Services, Ground-based Surveying, and Others
- End-use Application
-
- Corridor Mapping (Roadways, Railways, Other), Engineering,
Environment (Forest Management, Coastline Management, Pollution
Modeling, Agriculture Mapping, Wind Farm, Precision Forestry), ADAS
& Driverless Cars, Exploration (Oil & Gas, Mining), Urban
Planning, Cartography, Meteorology, and Others
Request Free Customization of this
report:
https://www.skyquestt.com/speak-with-analyst/lidar-market
Ground-based LiDAR Technologies to be At the Forefront of
Revenue Generation for Market Players
Ground-based LiDAR technologies have an immense scope of
application in numerous industry verticals. Ranging from autonomous
vehicles to real-time mapping of objects and surroundings,
ground-based LiDAR can do almost everything possible. Moreover,
LiDAR companies are especially investing in new technologies that
can enhance the pedestrian and object detection capabilities of
vehicles to improve their safety. Ground-based LiDAR technologies
will be immensely popular among automotive companies in the
future.
Surging demand for aerial mapping and surveying equipment is
projected to create new opportunities for airborne LiDAR technology
providers. From creating digital elevation models to replacing
traditional surveying approaches, airborne LiDAR technologies can
do many things. Integration of other advanced technologies such as
artificial intelligence and the Internet of Things (IoT) could very
well widen the scope of application for this segment in the long
run.
View report summary and Table of Contents
(TOC):
https://www.skyquestt.com/report/lidar-market
Automotive and Transportation Safety Emphasis Slated to
Power LiDAR Demand
Corridor application of LiDAR technologies is slated to be the
most opportune for market players over the coming years. LiDAR
technologies help collision avoidance systems and other safety
systems analyze surroundings and map them in real time to detect
objects and pedestrians. Increasing emphasis on safety in the
automotive industry and imposition of regulations mandating the use
of such systems will help the corridor application segment hold a
major chunk of the global market share.
Meanwhile, the demand for LiDAR in driverless cars and advanced
driver assistance applications will increase at a robust CAGR over
the coming years. Cameras are being used with LiDAR technology to
promote autonomy amongst vehicles. Agriculture and construction
applications are also expected to offer good returns on investments
for LiDAR companies in the long run.
The global LiDAR market is emerging as an extremely opportune
one. Leading LiDAR companies are focusing on advancing their
technologies whilst new companies are targeting innovation to find
a place for themselves in this competitive landscape.
Related Report:
Connected Car Market
Automotive Semiconductor Market
Electric Vehicle Market
Sensor Market
Smart Transportation Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
Logo:
https://mma.prnewswire.com/media/2446095/SkyQuest_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/lidar-market-is-predicted-to-reach-a-market-worth-of-usd-4-83-billion-in-2031-owing-to-rising-spending-on-healthcare-around-the-world--skyquest-technology-302212248.html