As per the report “LIDAR Market by Product (Terrestrial/Static, Aerial, Mobile, Short-range), and By Application (Corridor mapping, Seismology), Industry Trends, Estimation & Forecast, 2016-2024”, the global LIDAR market was valued at $332.2 million in 2016, and is projected to reach $1.4 billion by 2024, having a CAGR of 21.4 % from 2017 to 2024. In 2016, Aerial LIDAR technology lead the market garnering a revenue of $182.5 million and growing with the highest growth rate, having a CAGR of 17.4% during the forecast period. Among major regions, North America leads the market having the highest market share of $154.8 million; however, the highest growth rate would be experienced by Asia Pacific growing with a rate of 28.2 % during the forecast period.
“Developed regions such as North America and Europe are holding the largest market share of the LIDAR system market. The increasing demand of improvised automation and enhancement of metrological devices will open growth gateways for the LIDAR technology market in the emerging countries.”
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