"The Rising Demand for Light Detection and Ranging (LiDAR) Market: Market Size, Share & Trends Analysis Report by Technology and Application"

 


Industry Analysis

According to a report by Data Bridge Market Research, the global Light Detection and Ranging (LiDAR) market was valued at USD 1.40 billion in 2021 and is expected to reach USD 8.51 billion by 2029, with a compound annual growth rate (CAGR) of 25.30% during the forecast period of 2022-2029. The largest component segment in this market is laser scanners, which are increasingly being used for aerial scanning and mapping operations. Along with market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the report also includes expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.


Market Insights and Scope

According to the American Geoscience Institute, LiDAR has become extremely popular since GPS was introduced for precise geospatial measurements. LiDAR involves using a pulsed laser to measure the varying distances between an object and the surface of the earth. The system collects data from these laser pulses to generate accurate 3D information. LiDAR is also known as laser imaging detection and ranging, and is a type of remote sensing that uses lasers to measure distances to the earth. Because it combines 3D scanning with laser scanning, it is sometimes referred to as 3D laser scanning.


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