LiDAR Market Size Competitive Landscape and Trend Analysis Report
The global LiDAR market, valued at $1.1 billion in 2021, is expected to grow to $7.8 billion by 2031, with a CAGR of 21.3% from 2022 to 2031. LiDAR (light detection and ranging) is a remote sensing technology that uses light rays to examine, detect, and map objects. It features a sender that emits light rays and a receiver that captures reflected rays for mapping purposes. LiDAR has become preferred over traditional surveying due to its ability to deliver highly accurate data and 3D images quickly. Key drivers of market growth include advancements in automated processing capabilities and superior image resolution and data processing compared to other technologies.