According to the research report titled ‘LiDAR in Mapping Market Size By Platform (Drones [Fixed Wing Drones, Single Rotor Drones, Multi Rotor Drones], Terrestrial [Stationary, Mobile], Airborne, Handheld and Backpack), By Component (Hardware, Software), By Application Industry Outlook, Regional Analysis , Application Development, Competitive Landscape & Forecast, 2020 – 2026’, available with Market Study Report, global LiDAR in mapping market is estimated to be worth USD 4 billion by the year 2026.
 

As cited by the report, surging demand for mitigating risks associated with natural disasters, growing number of excavation & surveying activities, and favorable public-private partnerships are key factors driving worldwide LiDAR in mapping market growth.
 

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Increasing application of modern surveying techniques for inspection of oil & gas fields and archaeological sites, and deployment of LiDAR mapping technology in real estate vertical are also propelling overall industry valuation.
 

Despite the positive outlook, performance limitations, enormous resource requirements, and extended time periods required for data acquisition in large regions are likely to restrain LiDAR adoption in the forthcoming years.
 

Based on platform type, the drone mapping segment is slated to register considerable growth over the assessment period, driven by the ability to function in extreme weather conditions and difficult terrains.
 

Moving on to application-based fragmentation of global LiDAR in mapping industry, construction & surveying sector is poised to record notable gains over 2020-2026. This can be primarily ascribed to mounting product demand for town planning, increased government mapping & surveying projects, and benefit of substantial reduction of operational costs & human risks.
 

From a regional frame of reference, Asia Pacific market is touted to grow at a healthy rate over the forecast period, fueled by improving disaster management systems in emerging economies such as China, India, and Japan. To elaborate further, LiDAR in mapping systems is being extensively used in the region to geotag earthquake-prone areas and assess after-effects of landslides caused by earthquakes.
 

Prominent players in global LiDAR in mapping market sphere are Topcon Positioning Systems Inc., Innoviz Technologies Ltd., Cepton Technologies Inc., Phoenix LiDAR Systems, LeddarTech Inc. (Phantom Intelligence), Ouster Inc., Luminar Technologies Inc., GeoSLAM Ltd., Fugro N.V., FARO Technologies Inc., Blickfeld GmbH, Argo AI LLC, Velodyne Lidar Inc., Tetravue Inc., Quanergy Systems Inc., LeiShen Intelligent System Co. Ltd., Leica Geosystems AG, and Hesai Technology.