LiDAR Market Size, Share and Industry Trends To 2029

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MarketsandMarkets Presents
LiDAR Market by Component (Laser Scanners,
Navigation and Positioning Systems, Other
Components), Installation (Airborne,
Ground-based), Type (Mechanical, Solid-state),
Range (Short, Medium, Long), Service, Region -
Global Forecast to 2029The LiDAR market is
projected to grow from USD 1.6 billion in 2024 to
reach USD 3.7 billion by 2029 it is expected to
grow at a Compound Annual Growth Rate (CAGR) of
18.2 from 2024 to 2029.The growth of the LiDAR
market is driven by surge in the demand for 3D
imagery in application areas, rise in the
development of smart cities and infrastructure
projects, emergence of 4D LiDAR, rising adoption
of LiDAR systems in UAVs.
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MarketsandMarkets Presents
By type, the mechanical segment is projected to
hold the larger share of the lidar market in
2029. The mechanical segment is expected to hold
a larger market share in 2029. By type, the LIDAR
market is expected to be driven by the mechanical
segment due to the widespread use of mechanical
LiDAR in various applications, such as corridor
mapping, military, volumetric mapping, and
engineering. This leads to the larger size of the
mechanical LiDAR market. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id1261 The main advantage of mechanical
Lidar is its ability to cover a wide field of
view. Mechanical LiDAR sensors can operate long
distances, with ranges of up to several
kilometers. The solid-state LiDAR sensors have a
shorter range than mechanical LiDAR sensors,
typically only a few hundred meters. They require
a higher power consumption, which can be a
limitation for battery-powered applications.
Additionally, the cost of solid-state LiDAR
sensors is typically higher than that of
mechanical Lidar sensors.
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MarketsandMarkets Presents
By component, laser scanners are projected to
account for the largest share during the forecast
period. Laser scanners are expected to dominate
the LiDAR market during the forecast period.The
key factor attributing to this growth is the high
deployment of laser scanners for transmitting and
detecting using laser pulses based on the
time-of-flight (ToF) principle. Continuous
advancements in laser scanning technology have
improved their performance while reducing size,
weight, and power consumption. This progress has
made them more accessible and adaptable to
various applications. Laser scanners seamlessly
integrate into LiDAR systems, working with other
components, such as global positioning systems
(GPS) and Inertial Measurement Units (IMUs). This
integration enhances the overall efficiency and
accuracy of data collection and processing.
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MarketsandMarkets Presents
North America is expected to hold the second
largest share in the market by 2029. The North
American region is expected to hold the largest
share of the LiDAR market during the forecast
period. Major LiDAR companies, such as Teledyne
Optech (Canada), Trimble, Inc. (US), and FARO
(US), have their presence in North America. North
America is witnessing growth opportunities in the
automotive sector owing to the increasing
adoption of technologies such as ADAS and AEB.The
use of LiDAR in ADAS and driverless cars is
expected to grow significantly in the coming
years.
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MarketsandMarkets Presents
The report profiles key players in the LiDAR
market with their respective market ranking
analysis. Prominent players profiled in this
report include Leica Geosystems AG (Sweden),
Trimble Inc. (US), Teledyne Optech (Canada), FARO
Technologies, Inc. (US), RIEGL Laser Measurement
Systems GmbH (Austria), Sick AG (Germany), NV5
Geospatial (US), Beijing SureStar Technology Co.
Ltd. (China), Ouster (Velodyne Lidar, Inc.) (US),
YellowScan (France), Leishen Intelligent System
Co., Ltd. (China), SABRE Advanced 3D Surveying
Systems (Scotland), Hesai Technology (China),
RoboSense (China). Know more info _at_
https//www.marketsandmarkets.com/Market-Reports/l
idar-market-1261.html
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