The Global LiDAR Market will Hit $3.5 Billion by 2028, at a CAGR of 18.4%

LiDAR Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global LiDAR Market size is expected to reach $3.5 billion by 2028, rising at a market growth of 18.4% CAGR during the forecast period.

The Mechanical market acquired maximum revenue share in the Global LiDAR Market by Type in 2021; thereby, achieving a market value of $2.1 billion by 2028. Due to the great dependability & precision of mechanical LiDAR, it has been widely used in autonomous cars, which contributes to the segment's growth. Most mechanical Scanning LiDARs can rotate a laser/receiver assembly or employ a spinning mirror to direct light beams, primarily to collect data over a circular region or up to 360 degrees.

The Medium Range market is experiencing a CAGR of 18.6% during (2022 - 2028). LiDAR measures ranges and separations from its target using light in the pulsed laser form. Using medium-range LiDAR, objects between 200 and 500 meters away can be found. Where cost-effectiveness and accuracy are the main issues, medium-range LiDAR is used.

The Ground-based surveying market is leading the segment in the Global LiDAR Market by Service in 2021; thereby, achieving a market value of $1.2 billion by 2028. Due to its capacity to gather a million data points per second across the ground area, which makes it a very quick form of surveying, this segment has experienced tremendous expansion. The information provided by the ground-based survey is substantially more precise and allows for more accurate land use and ecological classification.

The Navigation & Positioning System market is showcasing a CAGR of 18.6% during (2022 - 2028). To offer extremely accurate data, positioning & navigation systems like GPS and inertial measurement units (IMUs) along with the LiDAR systems are used in ground and aerial surveys. Additionally, it is being used increasingly in the navigation and control of autonomous vehicles.

The Ground-based market is generating high revenue in the Global LiDAR Market by Installation Type in 2021; thereby, achieving a market value of $2.6 billion by 2028. In the near future, the segment is anticipated to be driven by the widespread deployment of ground-based LiDAR for applications, including the environment, corridor mapping, meteorology, ADAS, and driverless cars. Ground-based applications of LiDAR might be stationary or movable and take place on the surface of the earth.

The Environment market is registering a CAGR of 16.9 % during the forecast period. LiDAR is often utilized for environmental resource surveying and monitoring in end-use applications. Laser scanning systems are particularly suited for environmental monitoring applications, such as airborne carbon mapping and coastline monitoring surveys.

The North America market dominated the Global LiDAR Market by Region in 2021; thereby, achieving a market value of $1.4 billion by 2028. The Europe market is poised to grow at a CAGR of 18.1% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 19% during (2022 - 2028).

Full Report: https://www.kbvresearch.com/lidar-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Sick AG, FARO Technologies, Inc., Teledyne Optech, Inc., Trimble, Inc., Hexagon AB (Leica Geosystems AG), NV5 Global, Inc., YellowScans, SureStar, GeoDigital and RIEGL Laser Measurement Systems GmbH

Global LiDAR Market Segmentation

By Type

• Mechanical
• Solid-state

By Range

• Short Range
• Medium Range
• Long Range

By Service

• Ground-based surveying
• GIS Service
• Asset Management
• Aerial Surveying
• Others

By Component

• Laser Scanner
• Navigation & Positioning System
• Others

By Installation Type

• Ground-based
• Airborne

By Application

• Environment
• Exploration
• Meteorology
• Corridor Mapping
• Engineering
• Urban Planning
• ADAS & Driverless Cars
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Companies Profiled

• Sick AG
• FARO Technologies, Inc.
• Teledyne Optech, Inc.
• Trimble, Inc.
• Hexagon AB (Leica Geosystems AG)
• NV5 Global, Inc.
• YellowScans
• SureStar
• GeoDigital
• RIEGL Laser Measurement Systems GmbH

Related Reports:

North America LiDAR Market Size & Growth Trend to 2022-2028

• January-2023
• 111 Pages

LAMEA LiDAR Market Size, Share, Growth Trends to 2022-2028

• January-2023
• 129 Pages

Europe LiDAR Market Size, Share Growth Trend to 2022-2028

• January-2023
• 129 Pages

Asia Pacific LiDAR Market Size, Share & Analysis to 2022-2028

• January-2023
• 130 Pages