The global light detection and ranging (LiDAR) market size was USD 1.32 billion in 2018 and is expected to hit USD 6.71 billion by 2026, exhibiting a CAGR of 22.7% during the estimated period. LiDAR is used in a wide range of applications including geomorphology, atmospheric physics, archaeology, geomatics, airborne laser swath mapping, and others.
This information has been furnished by Fortune Business Insights™ in its research report, titled “Light Detection and Ranging (LiDAR) Market, 2019-2026”.
Segments:
Solid-State LiDAR to Register Substantial Growth Owing to Flexibility of Deployment Across Various Sectors
Based on type, the market is categorized into solid-state and mechanical LiDAR systems. Of these, the solid-state LiDAR segment is anticipated to record a commendable CAGR over the estimated period. The solution does not need any moving parts for functioning and is fabricated on a silicon chip, which favors its adoption across various sectors. Based on region, the industry is fragmented into Europe, Asia Pacific, North America, Latin America, and the Middle East & Africa.
List of Key Players Mentioned in the Report:
Teledyne Technologies
FARO Technologies, Inc.
SICK AG
Beijing SureStar Technology Co. Ltd.
Trimble Inc.
YellowScan
HEXAGON
RIEGL Laser Measurement Systems GmbH
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/light-detection-and-ranging-lidar-market-101969