Light Detection And Ranging (Lidar) Market Size to grow by USD 6624.7 million between 2024-2028
According to a research report “ Light Detection And Ranging (Lidar) Market” by Application (Corridor mapping, Engineering, ADAS and driverless cars, Environment, Others) Product (Airborne LiDAR, Terrestrial LiDAR) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 6624.7 million, at a CAGR of 28.82% during the forecast period. In the realm of construction and engineering, LiDAR (Light Detection and Ranging) technology is experiencing significant growth. This advanced technology brings numerous benefits to the industry, including enhanced team productivity and streamlined processes. During the surveying phase of a construction project, LiDAR technology, in conjunction with point cloud data software, enables accurate estimation of project costs. By analyzing point cloud data, construction teams can gain valuable insights into the necessary machinery and equipment for project completion. Furthermore, LiDAR technology is instrumental in assessing the surface type of a construction site, allowing engineers to evaluate the site's suitability for construction projects..
Browse market data tables, figures, and in-depth TOC on “Light Detection And Ranging (Lidar) Market” by Application (Corridor mapping, Engineering, ADAS and driverless cars, Environment, Others) Product (Airborne LiDAR, Terrestrial LiDAR) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Application, the Corridor mapping segment is projected to dominate the market size in 2024
In the realm of corridor mapping, LiDAR technology, whether airborne or terrestrial, plays a pivotal role in the efficient and accurate mapping of critical infrastructure such as highways, oil and gas pipelines, and railway lines. This data, obtained through LiDAR, is indispensable for corridor planning, work execution, and monitoring potential areas requiring maintenance. The electricity transmission industry has historically faced significant challenges with line inspections, which are both costly and time-consuming. However, the integration of airborne LiDAR systems into transmission line mapping has revolutionized the process, resulting in substantial cost savings and reduced inspection time. This trend is gaining momentum globally, with organizations like the Maharashtra State Electricity Transmission Company in India adopting the use of drones for transmission line inspections since July 2020.
By Product, Airborne LiDAR segment is expected to hold the largest market size for the year 2024
The airborne LiDAR market segment encompasses LiDAR sensors installed on aircraft and UAVs. These sensors are increasingly utilized in various applications, such as disaster management and national security-related defense activities. The growing emphasis on utilizing airborne LiDAR systems to enhance aircraft safety in commercial aviation is anticipated to significantly drive the expansion of the global LiDAR market. Industries including mining, construction, utilities, and agriculture are capitalizing on the vast data transmitted by sensors integrated into airborne platforms to boost service delivery efficiency and uphold stringent safety standards.
North America is forecasted to hold the largest market size by region in 2024
The Light Detection and Ranging (Lidar) market represents a significant growth opportunity for businesses in the technology sector. This advanced sensing technology is gaining traction in various industries, including autonomous vehicles, forestry, mining, and surveying, due to its ability to accurately measure distances and create high-resolution 3D maps. The global Lidar market is projected to expand at a robust CAGR, driven by increasing demand for automation and digital transformation across multiple end-use sectors.
The Light Detection And Ranging (Lidar) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Light Detection and Ranging (LiDAR) market is experiencing significant growth due to its applications in various sectors including infrastructure monitoring, smart city planning, and environmental monitoring. LiDAR technology is essential for creating digital elevation models and 3D mapping, providing accurate and detailed information for urban planning and disaster response. Infrastructure monitoring using LiDAR technology helps assess the condition of roads, bridges, and buildings, ensuring their safety and longevity. Smart city planning relies on LiDAR data for creating 3D models of urban landscapes, enabling better management of resources and efficient service delivery. Environmental monitoring using LiDAR technology is crucial for tracking changes in forests, wetlands, and other ecosystems. Disaster response teams use LiDAR data to create 3D imagery and 4D technology models to assess damage and plan recovery efforts. Advanced geospatial solutions, such as photogrammetry and electromechanical systems like MEMS scanners, are used in LiDAR technology to capture high-resolution 3D data. Terrestrial LiDAR and airborne laser scanner technology are popular applications of LiDAR, providing accurate and detailed data for various industries. LiDAR technology's ability to create 3D imaging and digital elevation models is also valuable in smart grid development, enabling more efficient power transmission and distribution. Overall, LiDAR technology's applications in infrastructure monitoring, urban planning, environmental monitoring, and disaster response make it an essential tool for creating smarter and more sustainable cities.
Market Research Overview
The Light Detection and Ranging (LiDAR) market is experiencing significant growth due to its applications in various industries, including biomass estimation, smart mobility, infrastructure monitoring, and urban planning. LiDAR technology uses lasers to measure distances and create 3D models of the environment, making it an essential tool for aerial surveying services, robotics, and unmanned aircraft systems. Two next-generation sensors, Short-Range LiDAR and MEMS scanner, are revolutionizing the market with their advanced capabilities. Short-Range LiDAR is ideal for applications such as driver assistance systems, collision avoidance systems, and 3D imaging in smart mobility. MEMS scanner, on the other hand, is known for its compact size and affordability, making it suitable for applications in construction, healthcare, and environmental sector. LiDAR is also used in industries like oil and gas, energy, aerospace and defense, and geomatics for applications such as oil sand monitoring, weather monitoring, environmental monitoring, and geomorphology. In addition, LiDAR plays a crucial role in smart city planning, disaster response, and military and defense applications. Moreover, LiDAR technology is used in photogrammetry, laser scanner technology, digital elevation models, 3D mapping, and 4D technology for infrastructure monitoring, corridor mapping, and topographical surveys. In conclusion, the LiDAR market is a dynamic and diverse field, with applications ranging from biomass estimation to smart infrastructure and from aerial surveying to military and defense.
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