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LiDAR in Mapping Market Trends, Analysis & Forecast, 2032

Based on platform, the terrestrial segment held over 60% market share in 2022. The demand for comprehensive three-dimensional data for various applications, such as urban planning, is expected to increase during the projected period, leading to significant growth for the terrestrial segment. The high population density in some developed cities is a result of extensive urbanization and industrialization. This has led to an upsurge in demand for advanced township planning techniques that can create precise 3D city models.

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LiDAR in Mapping Market Trends, Analysis & Forecast, 2032

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  1. LiDAR in Mapping Market 2022-2032; Growth Forecast & Industry Share Report

  2. Industry Insights • As per a recent research report, Global LiDAR in Mapping Market share is likely to surpass USD 15 billion valuation by 2028 • The global LiDAR in mapping market is expected to expand exceptionally through 2032 owing to the rising popularity of service providers across end-user organizations because of the lack of skilled experts and budgetary restrictions. • Expanding population, growing trend of urbanization, and climate change are potentially driving the market dynamics. The LiDAR in mapping market is highly competitive attributed to low product differentiation as well as competitive pricing.

  3. Leading market competitors are making significant R&D investments to create cutting-edge hardware and software that will provide accurate and thorough data points. For instance, in February 2022, FARO Technologies, Inc. introduced an upgrade to the FARO Focus Swift Mobile Scanner. Users can now take 10-20 second colorized anchor scans, which improves accuracy and detail in crucial regions. • The LiDAR in mapping market has been divided in terms of platform, drone, terrestrial, hand held & back pack, component, application, and region. • Based on platform, the terrestrial segment held over 60% market share in 2022. The demand for comprehensive three-dimensional data for various applications, such as urban planning, is expected to increase during the projected period, leading to significant growth for the terrestrial segment. The high population density in some developed cities is a result of extensive urbanization and industrialization. This has led to an upsurge in demand for advanced township planning techniques that can create precise 3D city models.

  4. Regional Analysis • From the regional front, the Middle East & Africa LiDAR in the mapping industry is estimated to grow at over 15% CAGR from 2023 to 2032. The rise in government support for autonomous mapping and the rising number of smart city applications is likely to foster the regional growth. The MEA market is also expanding because of the growing demand for cutting-edge surveying technology for mines and oil fields. LiDAR technology is being used by oil businesses in the area to increase productivity and cut expenses. • Competitive Analysis • FARO Technologies Inc. • Argo AI • Cepton Technologies Inc. • Velodyne LiDAR Inc • Innoviz Technologies Ltd. • Phantom Intelligence • Luminar Technologies Inc. • Ouster Inc. • Quanergy Systems Inc

  5. Europe Cloud Computing Market @ https://www.gminsights.com/industry-analysis/lidar-in-mapping-market Request for sample of this research report @ https://www.gminsights.com/request-sample/detail/4461 Request for customization: https://www.gminsights.com/roc/4461

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