According to the report by Expert Market Research (EMR), the global Light Detection and Ranging (LiDAR) Market Size reached a value of USD 1.93 billion in 2023. Aided by the increasing demand for high-resolution 3D mapping, urban planning, and infrastructure development, the market is projected to further grow at a CAGR of 22.90% between 2024 and 2032 to reach a value of USD 12.30 billion by 2032.LiDAR technology involves the emission of laser pulses from an airborne or terrestrial platform, which is then reflected off objects and surfaces in the environment. By measuring the time taken for the laser pulses to return to the sensor, LiDAR systems generate precise 3D point cloud data, enabling the creation of detailed digital elevation models (DEMs), terrain maps, and 3D reconstructions of landscapes, structures, and vegetation.
As per the light detection and ranging (LiDAR) market analysis, the rapid pace of infrastructure development, urbanisation, and smart city initiatives worldwide fuels the demand for LiDAR technology in urban planning, land use management, and infrastructure monitoring. LiDAR enables accurate assessment of terrain topography, building heights, and vegetation cover, facilitating informed decision-making and efficient resource allocation in urban development projects. The adoption of LiDAR technology in precision agriculture and forestry management is on the rise, driven by the need for precise terrain modelling, crop monitoring, and forest inventory assessment. LiDAR-based remote sensing techniques enable farmers, foresters, and land managers to optimize crop yields, monitor vegetation health, and assess biomass resources with unprecedented accuracy and efficiency.
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LiDAR plays a pivotal role in environmental monitoring, biodiversity conservation, and climate change studies by providing detailed insights into ecosystems, habitat structures, and landscape dynamics and fuels the light detection and ranging (LiDAR) market growth. LiDAR-derived data supports habitat mapping, wildlife monitoring, flood risk assessment, and carbon sequestration analysis, aiding conservation efforts and informing policy decisions for sustainable land management practices.
The integration of LiDAR sensors in autonomous vehicles, unmanned aerial vehicles (UAVs), and drones is driving market growth in the automotive, aerospace, and robotics sectors. As per the light detection and ranging (LiDAR) market outlook, LiDAR enables real-time obstacle detection, navigation, and 3D mapping for autonomous vehicles and UAVs, enhancing safety, situational awareness, and operational efficiency in diverse applications ranging from transportation and delivery to surveillance and disaster response.
Competitive Landscape of Light Detection And Ranging (Lidar) Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global light detection and ranging (LiDAR) market. Some of the major players explored in the report by Expert Market Research are as follows:
Faro Technologies, Inc.
Jabil Inc.
Trimble Inc.
Velodyne Lidar, Inc.
Innoviz Technologies Ltd
Leica Geosystems AG
Teledyne Geospatial
Luminar Technologies, Inc.
Quanergy Systems, Inc.
Ouster, Inc.
Others