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LiDAR Market Share, Size, Key Players, Research and Forecasts to
2024 | Hexa Research
“ LiDAR Market Size Projected Grow At 12% CAGR Till 2024.”
21 December 2018
Global LiDAR market was worth USD 260 million in 2015. It is estimated to grow at a CAGR of 12% from 2016
to 2024 (forecast period). Rising demand for 3D imaging technology in a variety of applications is an
important market driver. The adoption of aerial systems for detection and exploration of historic details is
increasing. Vendors are in the process of introducing several novel products in this space. These factors are
propelling market growth.
However, LiDAR system’s components like laser scanner, navigation systems, high-resolution 3D cameras,
etc. are expensive. This coupled with poor consumer awareness may hamper its future prospects.
The market is segmented as per applications, products, components, and regions. Applications are divided
into civil engineering, government, topographical surveys, corridor mapping, and military & defense. Civil
engineering, which includes areas like power line deployments and flooded mapping, would grow at a CAGR
of 17% over the forecast period.
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