LiDar Technology Market to Grow More Than 20% Annually

WELLESLEY, Mass., February 19, 2021 (Newswire.com) - Light Detection and Ranging (LiDAR) technology is seeing widespread adoption among many industries thanks to its ability to collect data faster than conventional surveying. 

The adoption of LiDAR equipment is increasing in archaeology, agriculture, atmospheric remote sensing, urban planning, forestry, military and more, according to the BCC Research report, Light Detection and Ranging (LiDAR): Technologies and Global Markets. 

The global market for LiDAR technologies should grow from USD 3.1 billion in 2020 to USD 8.7 billion by 2025 with a compound annual growth rate (CAGR) of 22.7%. 

Report Highlights 

• Transportation LiDAR technologies market should grow from USD 585.5 million in 2020 to USD 1.6 billion by 2025 with a CAGR of 22.9%. 
• Coastal LiDAR technologies should grow from USD 514.8 million in 2020 to USD 1.3 billion by 2025 with a CAGR of 21%. 
• Analysis of key market players: Faro Technologies, Firmatek and LeddarTech Inc. 

Read the full report here: https://corporate.bccresearch.com/market-research/photonics/light-detection-anging-lidar-technologies-global-markets-report.html  

About BCC Research 
BCC Research publishes market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering current and emerging industrial and technology sectors. For more information about BCC Research, visit bccresearch.com. 

Source: BCC Research