LiDAR in Mapping Market Technology 2023: Business Growth, Trend and Forecast 2032

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LiDAR in Mapping Market to at over 10 CAGR from
2023 to 2032 Global Market Insights, Inc.
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Overview of LiDAR in Mapping Market

• The global LiDAR in mapping market is expected to
  expand exceptionally through 2032 owing to the
  rising popularity of service providers across
  end-user organizations because of the lack of
  skilled experts and budgetary restrictions.
• Expanding population, growing trend of
  urbanization, and climate change are potentially
  driving the market dynamics. The LiDAR in mapping
  market is highly competitive attributed to low
  product differentiation as well as competitive
  pricing.
• Leading market competitors are making significant
  RD investments to create cutting-edge hardware
  and software that will provide accurate and
  thorough data points. For instance, in February
  2022, FARO Technologies, Inc. introduced an
  upgrade to the FARO Focus Swift Mobile Scanner.
  Users can now take 10-20 second colorized anchor
  scans, which improves accuracy and detail in
  crucial regions.

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• The LiDAR in mapping market has been divided in
  terms of platform, drone, terrestrial, hand held
  back pack, component, application, and region.
• Based on platform, the terrestrial segment held
  over 60 market share in 2022. The demand for
  comprehensive three-dimensional data for various
  applications, such as urban planning, is expected
  to increase during the projected period, leading
  to significant growth for the terrestrial
  segment. The high population density in some
  developed cities is a result of extensive
  urbanization and industrialization. This has led
  to an upsurge in demand for advanced township
  planning techniques that can create precise 3D
  city models.
• With respect to drone, the multi-rotor drones
  segment is slated to expand exponentially through
  the forecast years credited to the increased need
  for precise mapping in less time and money. More
  than two rotors are used in the design of
  multi-rotor drones, which provide increased power
  and stability at a lighter weight. These drones
  are mostly utilized in radio-controlled and other
  UAV applications.

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• In terms of hand held back pack, the hand held
  segment is poised to witness strong growth by the
  end of the research period. The demand for hand
  held mapping LiDAR is driven by the expanding
  requirement for the best-performing mapping
  solutions in a compact solution. Handheld
  scanners are more portable due to their
  lightweight and low cost.
• From the regional front, the Middle East Africa
  LiDAR in the mapping industry is estimated to
  grow at over 15 CAGR from 2023 to 2032. The rise
  in government support for autonomous mapping and
  the rising number of smart city applications is
  likely to foster the regional growth. The MEA
  market is also expanding because of the growing
  demand for cutting-edge surveying technology for
  mines and oil fields. LiDAR technology is being
  used by oil businesses in the area to increase
  productivity and cut expenses.
• Notable participants in the LiDAR in Mapping
  market include FARO Technologies, Inc., Argo AI,
  Cepton Technologies, Inc., Velodyne LiDAR, Inc,
  Innoviz Technologies Ltd., Phantom Intelligence,
  Luminar Technologies, Inc., Ouster, Inc.,
  Quanergy Systems, Inc., Trimble Inc, LeiShen
  Intelligent Systems Co., Ltd., Topcon Positioning
  Systems, Inc., LeiShen Intelligent Systems Co.,
  Ltd., and Blickfeld GmbH

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