Latest News- Light Detection And Ranging (LiDAR) Market: Corridor mapping is expected to lead the Application segment during 2025-2029

The Light Detection And Ranging (LiDAR) Market is being driven by Expanding application areas of LiDAR technology

The Light Detection And Ranging (LiDAR) Market is expected to grow at a CAGR of 29.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 8225.8 million. In the LiDAR market, there is a growing focus on enhancing the measurement accuracy of time and distance for LiDAR sensors. Current sensors employ a time-of-flight method, transmitting short laser pulses and measuring the time taken for the echo to return. However, next-generation LiDAR manufacturers are pioneering continuous-wave frequency-modulated (CWFM) technology. This advanced approach involves sending continuous laser beams to the target, which are then split into two. One beam travels to the target and bounces back, while the other remains stationary. Upon recombination, the frequency shift between the two beams is measured to determine distance, offering improved precision and reliability. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Corridor mapping
  • Engineering
  • ADAS and driverless cars
  • Environment
  • Others
• Product
  • Airborne LiDAR
  • Terrestrial LiDAR
• Component
  • Laser scanners
  • Navigation systems
  • Positioning systems
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • APAC
    • China
    • India
    • Japan
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Expanding application areas of LiDAR technology
• Increased adoption of LiDAR in automotive applications
• Growing demand for LiDAR solutions from wind powerplants

However, the market also witnesses some limitations, which are as follows:

• High cost of LiDAR sensors
• Functional issues associated with nacelle-mounted LiDAR systems in wind turbines
• Technological constraints associated with LiDAR systems

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Market Scope in Light Detection And Ranging (LiDAR) Market Research Report

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Research Analysis Overview

The LiDAR market encompasses technologies, systems, applications, components, manufacturers, research, and development of LiDAR, which utilizes laser technology to measure distances by illuminating objects with light and measuring the reflection. Applications include autonomous driving, robotics and automation, precision farming, environmental monitoring, infrastructure management, security and surveillance, mapping and surveying, construction and engineering, scientific research, industrial automation, and more. LiDAR solutions offer software, hardware, integration, services, and data analysis. Pricing, performance, reliability, durability, maintenance, safety, and regulations are key considerations. Related fields include computer vision, artificial intelligence, data science, cloud computing, big data, edge computing, and software development.

Market Research Overview

The LiDAR market, a segment of the broader electronic equipment and instruments market, experiences significant growth due to increasing applications in various industries. Key drivers include the integration of LiDAR sensors in autonomous vehicles for advanced safety features and navigation, precision agriculture for optimized crop yields through 3D mapping and environmental monitoring, and traffic management for efficient infrastructure planning and monitoring. Point cloud processing technology advances further fuel market expansion, enabling real-time data analysis and improved accuracy. The global electronic equipment and instruments market, which encompasses LiDAR sensors and related technologies, is projected to grow substantially due to the increasing demand for electronic test and measurement equipment across industries such as automotive, information technology, consumer electronics, industrial, energy, and medical devices, driven by technological advancements and digital transformation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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