$2.7+ Billion Worldwide LiDAR Industry to 2025 - Featuring Leosphere, Waymo & Valeo Among Others
DUBLIN, July 23, 2020 /PRNewswire/ -- The "LiDAR Market with COVID-19 Impact Analysis by Type (Mechanical, Solid-state), Installation Type, Service (Aerial Surveying, GIS services), Application (Corridor Mapping, Environment, Engineering, ADAS & Driverless Cars), Component, Range, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The LiDAR market was valued at USD 981 million in 2019 and is projected to reach USD 2,766 million by 2025; it is projected to grow at a CAGR of 20.7% from 2020 to 2025.
Major factors driving the growth of the LiDAR market include rising adoption of LiDAR systems in UAVs, increasing adoption of LiDAR in engineering and construction applications, use of LiDAR in geographical information systems (GIS) applications, the emergence of 4D LiDAR, and easing of regulations related to use of commercial drones in different applications.
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