LiDAR Market Size Worth $4.71 Billion By 2030 | CAGR: 9.8%
LiDAR Industry Overview The global LiDAR market size is expected to reach USD 4.71 billion by 2030, registering a CAGR of 9.8% during the forecast period, according to a new report published by Grand View Research, Inc. The market growth is attributable to the rising adoption of LiDAR technology in environmental mapping, automobile safety application arenas, and construction and architectural sectors for monitoring 3D-modeling applications, among others. As this technology is one of the key sensing technologies for enabling hybrid and fully autonomous driving, the rapid development of self-driving vehicles is expected to propel market growth. LiDAR Market Segmentation Grand View Research has segmented the global LiDAR market based on product type, application, component, and region: Based on the Product Type Insights, the market is segmented into Airborne, Terrestrial, Mobile & UAV. The airborne segment dominated the market and accounted for a revenue share of...