LiDAR Services Market Rides The Crest

By Mat Dirjish

Riding on the crest of LiDAR products, Grandview Research sees the LiDAR services market skimming a smooth $2.6-billion market share by 2025, exhibiting a CAGR of 14.5% from 2019 to 2025. This growth is obviously attributed to the automotive market and less obviously to any favorable government policies regarding autonomous vehicles and advanced driver-assistance systems (ADAS).

Grand View Research’s report suggests:

  • Geographic information system (GIS) services are set to gain high traction in the market. GIS involves terrestrial laser scanning systems for data acquisition in 3-dimensional point clouds.
  • Modelling is sub segmented as city modelling and others. City modelling is set carve out the maximum share in the market.
  • Significant adoption of LiDAR in unmanned aerial vehicles (UAVs) adds further growth opportunities.
  • Escalating adoption of LiDAR mapping across different applications, i.e., corridor mapping.
  • Key participants in the LiDAR services market include Fugro, GeoDigital, Harris Geospatial Solutions, Inc., Hexagon, Kucera International, Quanergy Systems, Inc., Quantum Spatial, and Surdex Corp.

For more predictions and ruminations, take look at the “LiDAR Services Market Size, Share & Trends Analysis Report By Service Type (Asset Management, Aerial Surveying, Ground-based Surveying, Mapping, Modelling), By Application, By Region, And Segments Forecasts, 2019 – 2025” report. And to stay on top of the latest developments in LiDAR, ADAS, and autonomous vehicles, sign up for Sensors Daily Newsletters. It’s free, fast, and incredibly easy. For a media kit containing unique and effective sponsorship opportunities, contact Michael Mitchell via email.