LiDAR Market to Garner $2.90 Bn, Globally, by 2027 at 20.1% CAGR, Says Allied Market Research

Surge in need for aerial LiDAR, rise in demand for 3D imaging, and automated processing in LiDAR systems have boosted the growth of the global LiDAR market.

News provided by

Allied Market Research

Aug 05, 2020, 09:30 ET

PORTLAND, Ore., Aug. 5, 2020 /PRNewswire/ -- Allied Market Research recently published a report, "LiDAR Market By Type (Terrestrial, Aerial, Mobile, and Short Range), Component (LASER, Inertial Navigation System, Camera, GPS GNSS Receiver, and MEMS), Application (Corridor Mapping, Seismology, Exploration & Detection, and Others), and End User (Defense & Aerospace, Civil Engineering, Archaeology, Forestry and Agriculture, Mining, and Transportation): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global LiDAR industry generated $700.2 million in 2019, and is projected to reach $2.90 billion by 2027, growing at a CAGR of 20.1% from 2020 to 2027.

Major determinants of the market growth

Surge in need for aerial LiDAR, rise in demand for 3D imaging, and automated processing in LiDAR systems have boosted the growth of the global LiDAR market. Moreover, the enhanced performance of LiDAR systems compared to other technologies supplemented the market. However, lack of awareness regarding LiDAR technology hampers the market. On the contrary, surge in need for LiDAR-captured data in newer applications is expected to open lucrative opportunities for the market players in the coming years.

Download PDF Brochure: https://www.alliedmarketresearch.com/request-sample/367

Covid-19 scenario:

LiDAR technology can be used to monitor crowd density and maintain safe distance in public facilities during the pandemic, which would increase the demand for LiDAR technology..
In Australia and New Zealand, the LiDAR-powered remote sensing device is used to measure wind farms to resume operations amid the lockdown.

Aerial segment dominated the market

By type, the aerial segment held the largest share in 2019, accounting for more than half of the global LiDAR market, due to high adoption in forestry management & planning, flood modeling, urban/city modeling, pollution modeling, coastline management, transport planning, and cellular network planning. However, the mobile segment is expected to register the highest CAGR of 23.6% during the forecast period, owing to integration of IoT in LiDAR systems.

Seismology segment to portray highest CAGR through 2027

By application, the seismology segment is expected to manifest the highest CAGR of 27.0% during the study period, owing to the penetration of LiDAR in seismology application. However, the corridor mapping segment dominated the global LiDAR market in 2019, contributing to nearly half of the market, due to adoption of river corridor planning, highway and railway route analysis, infrastructure asset management, and airport glide.

Enquire For Discount: https://www.alliedmarketresearch.com/purchase-enquiry/367

North America held the largest share

By region, the global LiDAR market across North America contributed to around two-fifths of the market, due to surge in adoption of advanced technologies in the region. However, the market across Asia-Pacific is expected to register the highest CAGR of 22.0% during the forecast period, owing to large number of developing countries in the region that have adopted the LiDAR technology for various applications.

Major market players

Velodyne
Leosphere SAS
Airborne Hydrography AB
Leica Geosystems AG
Faro Technologies Inc.
Firmatek LLC
GeoSLAM Ltd. (3D Laser Mapping)
Mira Solutions Inc.
RIEGL Laser Measurement Systems GmbH
Aerometric Surveys

Access AVENUE - A Subscription-Based Library (Premium on-demand, subscription-based pricing model) @ https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Similar Exclusive Reports:

Global Airborne LiDAR market to Reach $1,010.5 million by 2025

U.S. Airborne LiDAR Market to Reach $135 Million, by 2022

Asia-Pacific LiDAR Market to reach $205.6 Million, by 2022

Global & Asia-Pacific Radar Market Expected to Reach $49.43 Billion by 2027

5G Technology ROI Market Expected to Reach $320.1 Billion by 2026

Pre-Book Now with Flat 10% Discount:

Automotive LiDAR Sensors Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

Telecom Connector and Datacom Connector market: Opportunity Analysis and Industry Forecast, 2020–2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn and Twitter