The LiDAR market is expected to grow from USD 766.5 million in 2019 to USD 3,072.81 million by 2025 at a CAGR of 21.94% from 2020 to 2025.
There has been a growing demand for advanced mapping solutions, like LiDAR, owing to the increase in surveying & excavation activities across the world. LiDAR technology offers an extensive amount of accurate & quality information for various applications. It is meaningfully more accurate and offers higher resolution images as linked to other traditional methodologies such as aerial mapping. The emergence of the LiDAR technology has brought a paradigm shift in the terrain mapping landscape as it has been widely used for a range of applications like floodplain mapping, forest inventory, hydrology, geomorphology, landscape ecology, survey assessments, and coastal engineering & volumetric calculations. All these applications use LiDAR technology to conduct analysis, manage, visualize, and disseminate data, supplementing the development of the market. The solid-state LIDAR technology is fast a lot of traction among automakers across the ecosphere as the technology is faster and cost-effective related to the traditional LiDAR solutions.
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The global LiDAR market has been segmented as below:
By Service
GIS services
Ground-based surveying
Aerial surveying
Asset management
Other Service
By Range
Long
Medium
Short
By Type
Solid-state
Mechanical
By Technology
4D LiDAR
3D LiDAR
2D LiDAR
Conjugate vaccines
Inactivated and subunit vaccines
By Application
ADAS & driverless cars
Exploration
Urban planning
Cartography
Meteorology
Other applications
Corridor mapping
Engineering
Environment
By Region
North America
Europe
Asia-Pacific
Rest of the World
Competitive Rivalry
Teledyne Technologies (US), Hexagon (Sweden), Trimble (US), FARO (US), RIEGL (Austria), and others are among the major players in the global market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
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