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LiDAR Market Global Report 2022: Emergence of 4D LiDAR Boosts SectorDUBLIN, Jan. 31, 2023 /PRNewswire/ -- The "LiDAR Market by Dimension Type, Technology, Installation Type, Wavelength, Range, Service, Application, End-use Industry, and Geography - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering. The research report provides an in-depth analysis of the global LiDAR market across five major geographies and emphasizes on the current market size, market shares, recent developments, and forecast till 2029. The global LiDAR market is projected to reach $20.03 billion by 2029 at a CAGR of 28.4% from 2022 to 2029. Based on installation type, the LiDAR market is segmented into airborne and terrestrial. The terrestrial segment is expected to register the highest CAGR during the forecast period. Terrestrial LiDAR can be mobile and stationary and operated only on the surface of the Earth. Static terrestrial scanning is a frequently preferred survey method for monitoring, conventional topography, forensics, and cultural heritage documentation. Mobile & UAV LiDAR operates in both mobile and aerial modes and works on Earth's surface and surrounding environment. Based on wavelength, the LiDAR market is segmented into 885 nm, 905 nm,1064 nm, 1550 nm, and other wavelengths. The 1550 nm segment is expected to register the highest CAGR during the forecast period. Utilization of the 1550 nm wavelength is growing due to its higher eye safety and potential to detect low reflectivity targets, such as any object within a radius of 300 m. Based on range, the global LiDAR market is segmented into 885 nm, 905 nm,1064 nm, 1550 nm, and other wavelengths. The medium range segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the growing usage across engineering and environment applications such as ecological land and classification and archaeology. Medium range LiDAR is widely used to capture the building structure. Based on service, the global LiDAR market is segmented into aerial survey, asset management, GIS services, ground-based survey, and other services. The ground-based survey segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the potential of collecting a million points of data per second over the ground area, making it an exceptionally fast method of surveying. The ground-based survey gives much more accurate information for accurate ecological and land use classification. This survey is used to map the forests by measuring the vertical structures of the canopy and its density. These models help us understand the complex forest structures and generate accurate forest inventory. Based on application, the global LiDAR market is segmented into mapping and cartography, coastline & shoreline mapping, pollution tracking, wind speed measurement, exploration, advanced driver assistance system (ADAS), meteorology, and other applications. The advanced driver assistance system (ADAS) segment is expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the surging incorporation of LiDAR-based sensors in various automotive safety applications. In the last few years, assisted driving automobiles have gained traction in the market; these automobiles use cameras and LiDAR to sense the environment around them and avoid accidents. For instance, in July 2019, Velodyne Lidar Inc., a California-based Lidar technology company, announced the acquisition of localization and mapping software from Mapper.ai, Inc. This development is aimed at boosting the company's ADAS system production. Based on end-use industry, the global LiDAR market is segmented into automotive, defense & aerospace, oil & gas, mining, civil engineering, government, transportation, and other end-use industries. In 2022, the government bodies segment is expected to account for the largest market share of the global LiDAR market. The growth of this segment is attributed to the need for surveying and monitoring surroundings, including forest management, coastline management, pollution modeling, agriculture, wind farms, and precision forestry. Market Dynamics Market Drivers
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