LiDAR in Mapping Market size worth over $15 Bn by 2032

LiDAR in Mapping Market size is set to cross USD 15 billion by 2032, according to a new research report by Global Market Insights Inc.
 

A surge in demand for technologies enabling surveying & excavation across a wide range of applications such as civil engineering, military & defense, and geological studies will complement the industry outlook. Multiple government programs and investments are underway, facilitating the penetration of LiDAR technologies for private and public sector applications.
 

Airborne LiDAR gains widespread applications for mapping & surveying large expanses of land

LiDAR in mapping market from the airborne platform segment is projected to expand at over 10% CAGR between 2023 and 2032. Increasing demand for customized technologies and integration of next-generation solutions will proliferate the deployment of airborne systems. These include airplanes and helicopters designed for mapping and surveying. Airborne LiDAR is gaining significant traction for surveying and mapping large areas for natural resources. This technology mimics unmanned LiDAR mapping with sophisticated components and better yield, which makes it ideal for landscapes where UAVs cannot suffice.
 

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Growing use of single-rotor drones by construction operators and surveyors

The single rotor drones segment of LiDAR in mapping market is poised to record more than 30% growth rate from 2023 to 2032. On account of the myriad of advantages over other systems such as the ability to land and take off vertically, single-rotor drones are gaining significant demand. Such advanced capabilities of these drones help operators manage maneuverability in tight spaces which lack a suitable space for landing and take off. Single-rotor drones are mainly used for construction and surveying as these rotors are more efficient in lifting heavier payloads and require less fuel or battery-based energy for flying.
 

Browse key industry insights spread across 300 pages with 334 market data tables and 34 figures & charts from the report, “LiDAR in Mapping Market Size By Platform (Drones [Fixed Wing Drones, Single Rotor Drones, Multi Rotor Drones], Terrestrial [Stationary, Mobile], Airborne, Handheld and Backpack), By Component (Hardware, Software), By Application (Corridor Mapping, Construction & Surveying, Agriculture & Forestry, Mining & Quarrying, Education, Environmental, Transport, Emergency Services) COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/lidar-in-mapping-market
 

Infrastructure development activities to increase adoption of static LiDAR systems

The static systems held approximately 25% of the LiDAR in mapping market share in 2022. The product is experiencing a surge in demand due to increasing infrastructure development activities. City planners are increasingly adopting static LiDAR systems to amalgamate accurate and updated data pertaining to energy consumption and demand in urban areas. These systems help infrastructure developers to overcome limitations associated with statistical information and create models for large areas in a short period of time.
 

Rise in government initiatives for disaster management will drive LiDAR mapping demand

The emergency services application segment is expected to exhibit around 20% gains through 2032. Increasing focus on the population, infrastructure, and disaster management will boost LiDAR mapping applications in emergency services. Governments worldwide are investing heavily in the development of models that can reduce post-disaster human, and economic losses in collaboration with disaster management organizations. Such initiatives leverage LiDAR mapping technologies for mapping and surveying affected areas and devising appropriate rescue strategies. It also allows organizations to anticipate unforeseen events in disaster-prone regions. 
 

Increasing number of mineral exploration activities to amplify North America market revenue

North America LiDAR in mapping market valuation surpassed USD 800 million in 2022. The presence of favorable government regulations and the growing need for optimization of expenditure associated with mapping operations will offer lucrative scope for the development of LiDAR technologies. Rapid technological integration in different infrastructure and mineral exploration activities has fueled the need for precise data for 3D mapping.
 

New partnerships to define the competitive landscape

FARO Technologies, Inc., Argo AI, Cepton Technologies, Inc., Velodyne LiDAR, Inc, Innoviz Technologies Ltd., Phantom Intelligence, Luminar Technologies, Inc., Ouster, Inc., Quanergy Systems, Inc., Trimble Inc, LeiShen Intelligent Systems Co., Ltd., Topcon Positioning Systems, Inc., LeiShen Intelligent Systems Co., Ltd., and Blickfeld GmbH are some of the leading companies in the global LiDAR in mapping industry. These participants are implementing strategic initiatives for the expansion of business and customer networks.