The global light detection and ranging (LiDAR) market size was USD 1.32 billion in 2018 and is expected to hit USD 6.71 billion by 2026, exhibiting a CAGR of 22.7% during the estimated period. LiDAR is used in a wide range of applications including geomorphology, atmospheric physics, archaeology, geomatics, airborne laser swath mapping, and others.

This information has been furnished by Fortune Business Insights™ in its research report, titled “Light Detection and Ranging (LiDAR) Market, 2019-2026”.

List of Key Players Mentioned in the Report:

Teledyne Technologies

FARO Technologies, Inc.

SICK AG

Beijing SureStar Technology Co. Ltd.

Trimble Inc.

YellowScan

HEXAGON

RIEGL Laser Measurement Systems GmbH

Browse Detailed Summary of Research Report with TOC:

Segmentation - Light Detection and Ranging (LiDAR) Industry:

AttributeDetails

Type of ProductAirborne, Terrestrial, and Others

ComponentLaser Scanners, Navigation & Positioning Systems, and Others

ApplicationCorridor Mapping, Engineering, Environment, Exploration, Advanced Driver Assistance Systems (ADAS), and Others

End-userAerospace & Defense, Archaeology, Automotive, Forestry & Agriculture, and Others

GeographyNorth America, Europe, Asia-Pacific, and Rest of the World

Growth Drivers - Light Detection and Ranging (LiDAR) Market:

Some of the growth drivers for the Light Detection and Ranging (LiDAR) market include:

Increasing demand for 3D imaging in various applications, such as mapping, surveying, and urban planning, which requires high-resolution and accurate data.

Growing adoption of LiDAR technology in the automotive industry for Advanced Driver Assistance Systems (ADAS) and autonomous vehicles, which require precise and reliable sensing systems.

Rising demand for LiDAR systems in the aerospace and defense industry for various applications, such as terrain mapping, obstacle avoidance, and target tracking.

Advancements in LiDAR technology, such as increased range, accuracy, and reliability, as well as the development of lightweight and compact LiDAR systems, which are driving their adoption in various industries.

Increasing government initiatives and investments in the development of LiDAR-based applications, such as smart cities and environmental monitoring, which are expected to drive the growth of the LiDAR market.