LiDAR Market size is Anticipated to Grow $7.8 Billion by 2031 | Growing at a CAGR of 21.3%

LiDAR Market

LiDAR Market

Automated processing in LiDAR systems, and rise in demand for 3D imaging coupled with the surge in adoption of LiDAR across various industries drives the LiDAR industry growth”
— David Correa

WILMINGTON, DELAWARE , UNITED STATES, September 19, 2023/ -- Allied Market Research published a report on the LiDAR Market by Type, Component, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2022-2031. 

The global lidar market was valued at $1.1 billion in 2021, and is projected to reach $7.8 billion by 2031, growing at a CAGR of 21.3% from 2022 to 2031

Download Research Report Sample & TOC:

Light detection and ranging (LiDAR) is a remote sensing technology that uses laser light to measure distances and create 3D models of the environment. LiDAR works by emitting a laser pulse towards a target and measuring the time it takes for the pulse to reflect the sensor. This process is repeated many times per second, creating a 3D point cloud of the target area.

Increase in demand for 3D imaging systems and automated systems required in LiDAR as well as a surge in the use of aerial sensing applications act as the key driving forces of the global LiDAR market. However, some of the limitations of the LiDAR system include its higher cost when compared to RADAR systems and its lack of awareness about its potential for mapping objects and structures.

The growth of global LiDAR industry is majorly driven by the automated processing in LiDAR systems paired with the enhanced performance of LiDAR systems compared to other technologies script. Moreover, the rise in demand for 3D imaging coupled with the surge in the adoption of LiDAR across various industries is expected to drive market growth. However, the lack of awareness about LiDAR across emerging economies is acting as prime restraint of the global market. On the contrary, the expansion of LiDAR applications in new industries and markets is anticipated to provide lucrative opportunities for the LiDAR industry during the forecast period.

Get Customized Reports with your Requirements:

Competitive Analysis: 
The competitive environment of the LiDAR market is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, LiDAR market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Some of the major key players of the LiDAR industry include:
• YellowScan
• Firmatek
• Leica Geosystems AG
• Velodyne Lidar, Inc.
• Aerometrex
• RIEGL Laser Measurement Systems GmbH
• Mira Solutions, Inc

In 2021, the pandemic had a mixed impact on the LiDAR market. While it initially caused supply chain disruptions and delayed deployments, an increase in demand for automation and remote sensing technology fueled the market growth. Furthermore, LiDAR technology such as LiDAR scanners, lasers, and others are becoming increasingly important in industries such as transportation, agriculture, and construction due to the shift toward digital transformation and sustainability.

Inquiry before Buying:

Key Benefits for Stakeholders:
• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lidar market analysis from 2021 to 2031 to identify the prevailing lidar market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and • strengthen their supplier-buyer network.
• An in-depth analysis of the lidar market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes an analysis of the regional as well as global lidar market trends, key players, market segments, application areas, and market growth strategies.

About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.   

Contact Us:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285

David Correa
Allied Analytics LLP
+1 800-792-5285
Visit us on social media: