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$249.3 Million LiDAR Sensor for Environmental Global Market to 2027 - Opportunity Analysis and Industry Forecast - ResearchAndMarkets.com

·3-min read

DUBLIN, Jun 15, 2021--(BUSINESS WIRE)--The "LiDAR Sensor For Environmental Market By Technology, Installation Type, Service and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The global LiDAR sensor for environmental market size was valued at $249.3 million in 2019, and is projected to reach $653.8 million by 2027, to register a CAGR of 15.1% from 2020 to 2027.

Light detection and ranging (LiDAR) system was introduced to enable examination, detection, and mapping of objects using light rays. Basic LiDAR device consists of a sender, which emits light rays and a receiver used to capture reflected light rays for mapping. This system has witnessed increase in adoption over conventional surveying methods, owing to its ability to provide highly accurate data and 3D images in a shorter time.

Improvements in automated processing ability of LiDAR systems, In terms of image resolution, and prompt data processing capability over other technologies are the major factors that drive growth of the global LiDAR sensor for environmental market. Other factors that supplement growth of the LiDAR sensor for environmental market include rise in demand for 3D imaging technology across various application areas and increase in adoption of aerial LiDAR systems to explore and detect places and historic details.

However, less awareness about benefits of LiDAR systems and use of expensive components in these systems, such as laser scanner, navigation system, and high-resolution 3D cameras, collectively increase the cost of LiDAR systems. Hence, these factors limit adoption of LiDAR sensor systems. Furthermore, increase in need for LiDAR-captured data in newer applications and emergence of 4D LiDAR creates numerous growth opportunities for the market growth.

Furthermore, players in the market have adopted product launch and collaborations as their key developmental strategies to meet customer demands and increase their customer base. Partnerships are likely to help players set a common technology platform and share technological requirements. This is expected to help market players to enhance their product portfolio in less investments and increase their market share across various regions.

The global LiDAR sensor for environmental market is segmented on the basis of technology, installation, service, application, and region. On the basis of technology, the market is divided into 2D LiDAR, 3D LiDAR, and 4D LiDAR. By installation, the market is bifurcated into airborne LiDAR and ground-based LiDAR. On the basis of service, it is divided into aerial surveying and ground-based surveying. On the basis of application, it is divided into forest management, coastline management, air pollution, water pollution, agriculture, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Market Dynamics

Drivers

  • Automated processing in LiDAR systems

  • Enhanced performance of LiDAR systems than other technologies

  • Rise in demand for 3D imaging

  • Surge in need for aerial LiDAR

Restraints

  • Lack of awareness

Opportunities

  • Increase in need for LiDAR-captured data in newer applications

  • Emergence of 4D LiDAR

Key Market Players

  • Faro Technologies Inc.

  • Geodetics

  • Leica Geosystems AG

  • MeaTech (Measurement Technologies) Solutions LLP

  • Mitsubishi Electric Corporation

  • RIEGL

  • Sick AG

  • Topcon Positioning Group

  • Trimble Inc.

  • Vaisala

For more information about this report visit https://www.researchandmarkets.com/r/98neg9

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005966/en/

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