Global LiDAR
Market size is expected to reach $1636 million by 2024 from $360
million in 2016; growing at a CAGR of 20.8% from 2016 to 2024. By geography,
Asia Pacific and RoW are expected to grow at a CAGR of 26.2% and 25.3%,
respectively, during the forecast period.
Rise in adoption of drone will uplift the lidar market
Key
drivers of the global LiDAR market trends are rise in adoption of LiDAR by
governments across the world, technological advancements, and growing use of
drones for multiple applications. Additionally, R&D on autonomous cars in
automotive sector and rise in 3D printing would offer opportunities to the key
players in the market.
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Market Segmentation
The global
LiDAR market has been bifurcated into component, product, application, end-user,
and geography. Product segment comprises aerial, terrestrial, mobile, and short
range. Laser, Camera, GPS/GNSS receiver, inertial navigation system, and MEMS
are key components of lidar. Application segment includes exploration &
detection seismology, corridor mapping, and other applications. Mining
industry, archaeology, defense and aerospace, civil forestry and agriculture, and
transportation are covered under the end users segment. North America, Europe,
Asia-Pacific and RoW are the key geographical sub segments of global lidar
market.
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Table of Content (TOC) @ https://www.variantmarketresearch.com/report-categories/defense-aerospace/lidar-market/toc
Civil engineering dominated the market with highest market share
in 2016
Civil
engineering accounted for the largest market share in 2016 and expected to remain
the highest over the forecast period 2016 – 2024. Lidar provide extremely
accurate images, which are very crucial in the civil engineering.
Emerging countries witnessing growing demand of Lidar for various
applications
Asia-Pacific
is witnessing the fastest CAGR from 2016 to 2024, owning to increasing product
launches and rise in low-cost manufacturing activities in China, India, and
Japan. Whereas, North America held for the highest share of the market in 2016
and expected to remain the largest over the forecast period 2016 – 2204.
Moreover Angola, Mozambique, Brazil, and Portugal, among others are also
witnessing the significant demand of lidar market.
Competitive Landscape
The major
market players include Quanergy, Quantum Spatial, Hokuyo Automatic Co Ltd., Phoenix
Aerial Systems, Velodyne LiDAR, Airborne Imaging Inc., 3D Laser Mapping, Avent
LiDAR technology, GeoDigital and Leica Geosystems AG, among others.
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Scope
of LiDAR Market
Product
Type Segments
Component
Type Segments
Application
Segments
End-User
Segments
Geographical
Segments
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