Lidar market expected to reach US$2b by 2023

According to a comprehensive new market research report, the overall Lidar market is expected to reach over US$1.8 billion by 2023, up from US$819.1 million in 2018, at a CAGR of 17.2%. Encouragement from the governments and institutes for the adoption of Lidar while conducting geological surveys is the major factor driving the growth of this market.

Introduction of technologically enhanced Lidar is also fuelling the market. The report, titled "LiDAR Market by Type (Mechanical LiDAR and Solid-State LiDAR), Installation (Airborne and Ground-Based), Application (Corridor Mapping, ADAS & Driverless Car, and Engineering), Range, Component, Service, and Geography - Global Forecast to 2023" is published by MarketsandMarkets.

Further information on the report findings and a link to download the report can be found on News.

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