LiDAR Market Expected to Reach $7.8 Billion By 2031 | Growth Opportunities [2022

2. LiDAR Market Expected to Reach $7.8 Billion By 2031 “The global LiDAR market share is expected to witness considerable growth, owing to emerging applications in areas such as archaeology, aerospace, and other sectors, providing new opportunities for the LiDAR market in emerging economies such as India, South Korea, Brazil, Dubai, and especially in Asia- Pacific and LAMEA region, which is expected to drive the LiDAR market growth” Himanshu Jangra, Lead Analyst Semiconductor and Electronics at Allied Market Research Request Sample: https://www.alliedmarketresearch.com/request-sample/367 (We are providing report as per your research requirement, including the Latest Industry Insight's Evolution, Potential and COVID-19 Impact Analysis) Key Findings of the Study: • In 2021, the aerial segment accounted for maximum revenue and is projected to grow at a notable CAGR of 17.7% during the forecast period. • The laser segment was the highest revenue contributor to the LiDAR market size in 2021. • Civil engineering and forestry & agriculture collectively segments collectively accounted for around 53.5% LiDAR market share in 2021. • North America acquired a major share of the LiDAR market with an industry share of 20.5% in 2021. Major key players profiled cover in Report: 1.LEOSPHERE(Vaisala) 2.RIEGL Laser Measurement Systems GmbH 3.FARO 4.Velodyne Lidar, Inc. 5.Leica Geosystems AG 6.SICK AG 7.Firmatek 8.Aerometrex 9.Mira Solutions Inc. 10.YellowScan Market Dynamics: Drivers: • Increase in demand for 3D imaging technology in a variety of application areas. • surge in the use of aerial LiDAR systems to explore and detect places and historic details. Restraints: • Lack of awareness about the benefits of LiDAR systems. • Integration of expensive components in these systems such as laser scanners, navigation systems, and high-resolution 3D cameras. Opportunities:

3. • • Surge in the adoption of LiDAR systems across various industries. Rise in demand for 3D imaging. Report Overview: https://www.alliedmarketresearch.com/lidar-market Analyst Review: LiDAR technology is gaining high traction in the market due to its ability to provide highly accurate mapping and object detection of the environment. This has led to its widespread use in various industries such as autonomous vehicles, construction, mining & quarrying, and entertainment & gaming. The market for LiDAR is expected to continue to grow in the coming years, driven by increasing demand for accurate and detailed mapping and object detection. However, the high cost and complexity of LiDAR technology limit its adoption in certain industries. The CXOs further added that the global LiDAR market is highly competitive, owing to the strong presence of existing vendors. LiDAR vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with technological innovations, product extensions, and different strategies adopted by key vendors. About Us: Allied Market Research is market research, consulting, and advisory firm of Allied Analytics LLP. Founded in 2013, the firm has been instrumental in offering high-quality syndicated and customized market research reports, consulting services, and useful insights to leading market players, startups, investors, and stakeholders. Driven by the aim to eliminate sub-standard data and become a successful partner for organizations, Allied Market Research has been innovating continuously, expanding the product & service portfolio, and implementing the client-first approach since its inception. With the clientele spanning more than 7,000 organizations that also include a majority of Fortune 500 companies, AMR has a proven track record of helping and serving the global clientele and playing a major role in their success. Contact Us: David Correa 1209 Orange Street, Corporation Trust Center, Wilmington, New Castle, Delaware 19801 USA. Int’l: +1-503-894-6022 Toll Free: +1-800-792-5285 Fax: +1-800-792-5285 help@alliedmarketresearch.com