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LiDAR Market Share, Size, Trends and Growth, By Product
Analysis, Application and Segment Forecasts To 2022
The global LiDAR market is expected to reach USD 944.3 million by 2022, according to a new study by
Grand View Research, Inc. Technological advancements in automated processing ability in image
processing and data processing capabilities are anticipated to be the major factors to spur growth.
Rising government initiatives towards the adoption of these systems and increasing automation leading
to reduced human efforts are also expected to drive demand. The LiDAR market is expected to witness
significant growth owing to large infrastructure investments along with the need for road mapping.
Further, the segment is also expected to witness high growth due to increased penetration across wind
projects, transportation agencies, and urban data acquisiton. Increased resolution by the use of mobile
mapping as compared to airborne mapping is the result of reduced standoff distance.
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LiDAR technology applications in government and commercial areas, which include railways, roadways
management, and forestry, are also expected to spur growth owing to increasing demand for adoption
of technology coupled with 3D imagery solutions over the forecast period. This technology has
witnessed major evolutions with surge in eminence of laser beams driving the demand. 3D imaging and
scanning are considered to be its major application, which are frequently used in the healthcare,
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manufacturing, and automotive sectors. It has successfully acquired the clientele of photogrammetry
systems due to its higher accuracy and subtle operational deliverance. Surging applicability of UAVs in
commercial operations is directly linked to industry...