Global LiDAR in Mapping Market

Global LiDAR in Mapping Market Size, Share, Growth Analysis, By Application(Corridor Mapping Segment, Construction & Surveying), By Technology(Airborne, Terrestrial) - Industry Forecast 2024-2031

Report ID: SQMIG45I2167 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 64 | Figures: 75

Global LiDAR in Mapping Market Insights

Global LiDAR in Mapping Market size was valued at USD 1.88 billion in 2022 and is poised to grow from USD 2.35 billion in 2023 to USD 14.01 billion by 2031, at a CAGR of 25% during the forecast period (2024-2031).

The international LiDAR (Light Detection and Ranging) mapping market has been experiencing robust increase, pushed by increasing calls for correct geospatial facts throughout numerous industries. LiDAR technology uses laser pulses to degree distances and create extraordinarily designated three-D maps, making it invaluable in programs along with city planning, forestry, agriculture, and independent cars. Key drivers include the enlargement of smart cities and infrastructure initiatives, as well as the growing need for disaster control and environmental monitoring. The marketplace has witnessed improvements in LiDAR sensors and data processing software, leading to improved efficiency and affordability. North America dominates the market, observed with the aid of Europe and Asia-Pacific.

However, as the era matures and turns into more fee-effective, rising markets are expected to expose good sized growth. The LiDAR in mapping market is enormously competitive, with key gamers inclusive of Velodyne, Trimble, and Teledyne dominating, at the same time as new entrants preserve to innovate and disrupt the industry. This region is poised for continuous enlargement as LiDAR generation keeps to conform and unearths new programs.

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Global LiDAR in Mapping Market size was valued at USD 1.88 billion in 2022 and is poised to grow from USD 2.35 billion in 2023 to USD 14.01 billion by 2031, at a CAGR of 25% during the forecast period (2024-2031).

The international LiDAR (Light Detection and Ranging) in mapping marketplace features excessive competition amongst numerous key gamers. Leading agencies along with Velodyne Lidar, Inc., Trimble Inc., Leica Geosystems AG, and Hexagon AB dominate the marketplace, leveraging their considerable enjoy and technological know-how to offer high-quality LiDAR answers for mapping programs. These corporations always spend money on studies and improvements to decorate LiDAR technology, enhance accuracy, and decrease charges, using innovation in the enterprise. Additionally, partnerships and strategic collaborations are common, as organizations are searching to enlarge their market reach and provide comprehensive mapping solutions. The marketplace also witnesses the emergence of promising startups and niche gamers that focus on specific LiDAR programs or offer price-powerful answers. The competitive landscape is predicted to remain dynamic as improvements in LiDAR era hold to transform the mapping industry, with gamers vying for market share via innovation and strategic alliances. 'Velodyne Lidar, Inc. - United States', 'Luminar Technologies, Inc. - United States', 'Quanergy Systems, Inc. - United States', 'Innoviz Technologies, Ltd. - Israel', 'Ouster, Inc. - United States', 'LeddarTech Inc. - Canada', 'Cepton Technologies, Inc. - United States', 'Idriverplus Technology Co., Ltd. - China', 'Livox Technology Company Limited - China', 'RIEGL Laser Measurement Systems GmbH - Austria', 'Sick AG - Germany', 'Trimble Inc. - United States', 'Benewake (Beijing) Co., Ltd. - China', 'Hokuyo Automatic Co., Ltd. - Japan', 'Topcon Positioning Systems, Inc. - United States', 'Leica Geosystems AG - Switzerland (a part of Hexagon)', 'Quantronix, Inc. - United States', 'ZephIR Lidar - United Kingdom', 'Neptec Design Group - Canada', 'RIEGL USA, Inc. - United States'

The call for excessive-decision, correct, and updated mapping records has been increasing throughout diverse industries such as city making plans, forestry, agriculture, and infrastructure development. LiDAR era offers the capability to capture exact 3-D spatial information, making it a preferred preference for many programs.

Increased Adoption in Autonomous Vehicles: LiDAR technology performs an important role in allowing autonomous vehicles to understand and navigate their surroundings. The improvement and deployment of self-sufficient motors, drones, and different self reliant systems have been riding the demand for LiDAR sensors. The LiDAR era became extra compact, low priced, and able to deal with actual-time records processing, making it a key enabler for self-driving motors.

North America turned into the most important marketplace for LiDAR in mapping, followed by Europe and Asia Pacific. The high demand for LiDAR in mapping in North America may be attributed to the increasing funding in infrastructure development, the developing recognition of environmental tracking, and the growing adoption of LiDAR inside the car enterprise.

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