Global LIDAR Market Industry trends, Estimation & Forecast to 2024
The global LiDAR market generated a revenue of $332.2 million in 2016 and is expected to reach $1.4 billion by 2024, having a CAGR of 21.4 % from 2017 to 2024. Light Detection and Ranging also called as LiDAR, is a technology which uses pulsed laser in order to measure various ranges to the earth. The technology is capable of generating accurate and precise 3D information. LiDAR is mainly used for surveying. The process includes measuring distance of a target by hitting it with a pulsed laser light (mainly, ultraviolet, visible or near infrared light). The reflected laser then returns, having the information with it, which can be deduced using a sensor which calculates the difference in laser return time for the distance of the object and uses the wavelength to form a 3D image of the very target. LiDAR technology can be used to target various materials such as rocks, rain, clouds, chemicals and even molecules. ...