The use of LiDAR (Light Detection and Ranging) technology market is estimated to grow owing to the growing adoption of aerial LiDAR systems. Over the forecast years of 2018-2026, the Global LiDAR technology market is estimated to grow at a CAGR of 22.93%.
The global LiDAR technology market is segmented on the basis of its application, products, components, and services. The application segment of the market includes coastal, transportation, forestry, infrastructure, defence and aerospace, transmission lines, flood mapping, exploration, driverless cars, amongst others. The product segment of the market includes aerial lidar, bathymetric lidar, topography lidar, ground-based lidar, mobile lidar, and UAV lidar. The component segment of the market includes lasers, micro-electric mechanical systems, GPS/GNSS receiver, internal navigation and other components. The service segment of the market includes GIS services, ground-based surveying, mapping and modelling, asset management and other services.
The regional segmentation of the market is done in North America, Europe, Asia-Pacific and rest of the world. The North American Market is expected to represent the largest regional market for LiDAR in 2026 owing to the major use of LiDAR devices by the government. The Asia Pacific Region is predicted to grow over the forecast period, supported by the increase in technological developments.
Autonomoustuff, Blowm, Faro Technologies, Geodigital, Geono India Pvt. Ltd., Leica Geosystems, Michael Baker International, Mira Solutions, Quanum Spatial, RIEGL, SICK, Teledyne Optech, Topcon Positioning Systems Inc., Trimble, Velodyne LiDAR, and Quanergy Systems Inc are some of the noted market players in the global LiDAR technology market.