Light Detection and Ranging (LiDAR) Market Growth, Size, Opportunities, Developments, Scope, & Booming Growth by Forecast
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, registering a CAGR of 25.30% during
the forecast period of 2022-2029. Laser Scanners accounts for the largest
component segment in the respective market owing to the increase in the aerial
scanning and mapping operations. In addition to the market insights such as
market value, growth rate, market segments, geographical coverage, market
players, and market scenario, the market report curated by the Data Bridge
Market Research team also includes in-depth expert analysis, import/export
analysis, pricing analysis, production consumption analysis, and pestle
analysis.
Market Insights and Scope
Light detection and
ranging (LiDAR) has gained immense popularity following the introduction of GPS
for calculating accurate geospatial measurements. LiDAR utilizes a pulsed laser
for calculating an object’s variable distances from the surface of earth,
according to American Geoscience Institute. The information collected by the
airborne system along with light pulses generate accurate 3D information.
LiDAR is a kind of light
detection and ranging or laser imaging detection and ranging. LiDAR technology
is remote sensing in which light is used in the form of laser to appraise
variable distances to the earth. LiDAR is considered as a combination of 3D
scanning and laser scanning, therefore it is also known as 3D laser scanning.
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