Market Trends

The global LiDAR Market has accounted to $1,811.5 Million in 2023 and is estimated to grow at a CAGR of over 12 % during the forecast period of 2018 to 2023 majorly driven by the rising demand of mapping and surveying in various applications such as agriculture, infrastructure, transportation, and corridor mapping. The technological superiority of LiDAR compared to its alternatives along with the capability to provide enhanced efficiency with reduced human efforts is expected to drive the market growth in the near future.  What is LiDAR? LiDAR stands for light detection and ranging or it can also be defined as laser imaging detection and ranging   It is a remote sensing method in which light is used in the form of a laser to measure variable distances to the earth. It is a combination of  3D scanning  and  laser scanning  hence sometimes it can be defined as  3D laser scanning . LiDAR can be segmented into three types they are Solid-State LiDAR, Airborne LiDAR, and Terrestrial LiDAR.

The global LiDAR Market has accounted to $1,811.5 Million in 2023 and is estimated to grow at a CAGR of over 12 % during the forecast period of 2018 to 2023 majorly driven by the rising demand of mapping and surveying in various applications such as agriculture, infrastructure, transportation, and corridor mapping. The technological superiority of LiDAR compared to its alternatives along with the capability to provide enhanced efficiency with reduced human efforts is expected to drive the market growth in the near future.  What is LiDAR? LiDAR stands for light detection and ranging or it can also be defined as laser imaging detection and ranging   It is a remote sensing method in which light is used in the form of a laser to measure variable distances to the earth. It is a combination of  3D scanning  and  laser scanning  hence sometimes it can be defined as  3D laser scanning . LiDAR can be segmented into three types they are Solid-State LiDAR, Airborne LiDAR, and Terrestrial LiDAR.