LiDAR Demand Is Projected To Rise Rapidly Across The World At A CAGR Of 12.6% By 2032

The global LiDAR market is valued at US$ 1.9 billion in 2022 and is expected to grow to US$ 6.29 billion by the end of 2032. Between 2022 and 2032, global LiDAR demand is expected to grow at a CAGR of 12.6%.

Mobile and unmanned aerial vehicle (UAV) LiDAR, terrestrial LiDAR stations, and aerial LiDAR systems are all expected to be in high demand throughout the forecast period as technology advances and the scope of application expands.

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Competitive Landscape

Key LiDAR companies are focusing on launching new products to enhance their business scope and improve their revenue generation potential.

LiDAR market leaders are also expected to eye mergers and acquisitions to increase their market presence across various geographies.

  • In June 2022, Toshiba, a Japanese multinational organization, revealed new advances in its LiDAR (Light Detection and Ranging) unit. The new laser projector unit has now increased the detection range to 300 meters, which is the world’s longest. This is anticipated to increase the scope of application across various industry verticals.
  • In March 2022, Luminar, an organization manufacturing vision-based LiDAR and machine perception technologies for autonomous vehicles, announced the acquisition of Freedom Photonics, a high-performance laser manufacturer. The acquisition transaction was all-stock and aimed at bringing low-cost products into the market.

Key Segments Covered in LiDAR Industry Research

  • LiDAR Market by Product Type :
    • Solid-state LiDAR
    • Mechanical LiDAR
  • LiDAR Market by Technology :
    • 2D LiDAR
    • 3D LiDAR
    • 4D LiDAR
  • LiDAR Market by Component :
    • Laser LiDAR Scanners
    • Navigation and Positioning Systems
    • Others
  • LiDAR Market by Installation Type :
    • Airborne
    • Ground-based
  • LiDAR Market by Range :
    • Short LiDAR
    • Medium LiDAR
    • Long LiDAR
  • LiDAR Market by Service :
    • Aerial Surveying
    • Asset Management
    • GIS Services
    • Ground-based Surveying
    • Others
  • LiDAR Market by End-use Application :
    • Corridor Mapping
    • Engineering
    • Environment
    • ADAS and Driverless Cars
    • Exploration
    • Urban Planning
    • Cartography
    • Meteorology
    • Other End-use Applications
  • LiDAR Market by Region :
    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

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Some of the LiDAR Market  insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides: 

  • Analysis about the customer demand of the products and how it is likely to evolve in coming years.
  • Latest regulations enforced by government bodies and local agencies and their impact on Demand of LiDAR Market .
  • Insights about adoption of new technologies and its influence on the LiDAR Market Size.
  • Overview of the impact of COVID-19 on LiDAR Market and economic disruptions caused by the pandemic.
  • Evaluates post-pandemic impact on the Sales of LiDAR Market during the forecast period.

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After reading the Market insights of Angioplasty Balloons Report, readers can:

  • Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
  • Analyze key regions holding significant share of total LiDAR Market revenue.
  • Study the growth outlook of LiDAR Market scenario, including production, consumption, history and forecast.
  • Learn consumption pattern and impact of each end use & supply side analysis of LiDAR Market.
  • Investigate the recent R&D projects performed by each market player & competitive analysis of LiDAR Market Players.

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