According to the latest analysis conducted by Reports and Data, the market size of Light Detection and Ranging (LiDAR) reached USD 2,061.7 Million in 2022. It is projected that the market will experience a compound annual growth rate (CAGR) of 12.5% during the forecast period. Several factors contribute to this growth, including the increased utilization of LiDAR systems in Unmanned Aerial Vehicles (UAVs), advancements in 4D LiDAR technology, and the relaxation of regulations concerning the use of commercial drones across various applications. Additionally, automotive giants investing in LiDAR startups, the long-term potential of Short-Wave Infrared (SWIR)-based designs, the adoption of solid-state, Microelectromechanical Systems (MEMS), flash LiDAR, and other LiDAR technologies, the development of enhanced geospatial solutions through sensor fusion, and government initiatives promoting the use of LiDAR drones for large-scale surveys are all anticipated to contribute to the market's revenue growth.

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Top Companies Operating in the Global Mechanical Light Detection and Ranging (LiDAR) Market Report:

Teledyne Geospatial, Leica Geosystems AG, Xenomatrix, Riegl Laser Measurement Systems GmbH, Sick AG, SURESTAR, Yellowscan, Valeo, Trimble Inc, and NV5 Inc.

Major Driving Factors of Mechanical Light Detection and Ranging (LiDAR) Market

• Increasing demand in the automotive sector: LiDAR technology plays a crucial role in the development of autonomous vehicles. It provides highly accurate and real-time 3D mapping and object detection capabilities, enabling vehicles to navigate safely and make informed decisions. The growing interest in self-driving cars and advanced driver assistance systems (ADAS) is driving the demand for LiDAR in the automotive industry.
• Advancements in aerial mapping and surveying: LiDAR technology has revolutionized the field of aerial mapping and surveying. It enables rapid and accurate data collection over large areas, making it invaluable for applications such as urban planning, infrastructure development, and environmental monitoring. The need for efficient and precise mapping solutions is driving the adoption of LiDAR in this sector.
• Growth in the robotics industry: LiDAR technology is widely used in robotics for perception and navigation purposes. Robots equipped with LiDAR sensors can accurately perceive their surroundings, avoid obstacles, and perform complex tasks in various industries, including manufacturing, logistics, agriculture, and healthcare. The increasing demand for automation and the development of collaborative robots (cobots) are driving the growth of LiDAR in the robotics sector.

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The global Mechanical Light Detection and Ranging (LiDAR) Market is segmented into:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further market segmentation

Technology Outlook (Revenue, USD Million; 2019-2032)

• 2D
• 3D
• 4D

Component Outlook (Revenue, USD Million; 2019-2032)

• Laser Scanner
• Sensors
• Navigation and Positioning Systems
• Others

Type Outlook (Revenue, USD Million; 2019-2032)

• Solid-state
• Mechanical

Range Outlook (Revenue, USD Million; 2019-2032)

• Short
• Medium
• Long

Application Outlook (Revenue, USD Million; 2019-2032)

• Corridor Mapping
• Environment
• Engineering
• ADAS and Driverless Cars
• Law Enforcement
• Others

End-use Outlook (Revenue, USD Million; 2019-2032)

• Automotive
• Defense and Aerospace
• Healthcare
• Agriculture
• Mining
• Entertainment
• Others

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