Global LiDAR Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

“Global LiDAR Services Market” is an upcoming report at Market.biz. Key factors have been collected and studied, assessed and analyzed comprehensively through exhaustive primary and secondary research efforts to accurately present details regarding the global LiDAR services Market. Besides revenues for segments, global, regional, and country-wise market revenue segmentation is presented in the final report. Key trends, revenue growth driving factors, restraints, and opportunities are included. The company profiles of key players comprise detailed information, recent developments, strategies, and acquisitions & mergers, etc. The global LiDAR services market is segmented by service type, application, and regions/countries.

Global LiDAR Services Market: Overview

LiDAR is a technology that is used for remote sensing by gauging variable distances to the earth. The acronym LiDAR stands for Light Detection and Ranging as it emits a laser beam to detect, analyze and track distance between the sensor and the target. The laser beam is emitted from the device and reaches a target, which is then reflected back to its source after making contact with the desired surface.

LiDAR is also used to estimate the shape and structure of the Earth’s surface as well as to detect the presence of particular gas particles in the atmosphere. Owing to its high resolution and its multi-tasking ability, it has applications in city planning, archaeology, meteorology, mining, etc.

 Global LiDAR Services Market: Dynamic

LiDAR technology is becoming a major tool for remote sensing, mapping, and land surveying.  The technology is instrumental in enhancing mapping and remote surveillance systems. This system is adopted to gather ground information in remote areas through its bare-earth feature and uses laser technology to check varying distances and survey the land. The implementation of 3D imaging technology with the help of robotics to carry out a particular medical procedure is a factor that is expected to drive target market growth. LiDAR services employ 3D imaging techniques in applications such as city planning and 3D mapping. Demand for 3D imaging technologies for LiDAR services is gaining traction and key players are making use of these technologies in collaboration with LiDAR service providers to create opportunities for vertical integration.

Transportation agencies in the US and Germany are adopting LiDAR technologies extensively to manage the functioning of transport services such as cab and truck fleets. Technological improvements in user interfaces and diagnostic features to fix issues pertaining to LiDAR sensors malfunctioning are aimed at achieving better results and expected to drive target market growth.

Application of drones in industries such as aerospace and defense, agriculture & forestry, and natural resources management are among other factors contributing to the growing demand for LiDAR technology. Furthermore, different government organizations are making increasing use of LiDAR services owing to its low price availability and advanced features. These services are being adopted for surveillance, mapping, tracking activities in sectors such as oil & gas as well as mining.

Global LiDAR Services Market: Segmentation Analysis

By Service Type: The Geographic Information System (GIS) is expected to account for the majority revenue share in the market when compared to other service type segments.

By Application: Among the application segments, the corridor mapping segment is projected to continue its dominance over the next ten years.

 Global LiDAR Services Market Regional Analysis:

The market of North America is expected to account for the highest revenue share of the global market in the coming years. Growing usage of 3D imaging technology in countries such as the US and Canada is among major factors driving this market’s growth. LiDAR services are being adopted by government organizations, this, in turn, will further lead to market growth. Major companies in the region such as Google Inc., Apple Inc. and General Motors, are promoting the adoption of Advanced Driver-Assistance Systems (ADAS) and developing automated cars, which, in turn, will drive demand for LiDAR systems.

 The Asia-Pacific regional market is projected to register the fastest Compounded Annual Growth Rate (CAGR)over the next 10 years. This is attributed to the increasing utilization of LiDAR technologies by respective governments for mapping and scanning. Growing investments in developing this technology are factors contributing to regional market growth. Markets in China, India and Japan are major revenue contributors in this region.

Segmentation: Global LiDAR Services Market

By Service Type:

• GIS Service
• Asset Management
• Aerial Surveying
• Ground-Based Surveying
• Mapping
• Modeling
  • City Modelling
  • Others

By Application:

• Corridor Mapping
• Engineering
• Environment
• Exploration
• ADAS
• Others

 By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa