LiDAR Sensor for Environmental Market to Reach $653.8 Mn, Globally, by 2027 at 15.1% CAGR: Allied Market Research

PORTLAND, Ore., May 19, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "LiDAR Sensor For Environmental Market By Technology (2D LiDAR, 3D LiDAR, and 4D LiDAR), Installation Type (Airborne LiDAR and Ground-Based LiDAR), Service (Aerial Surveying and Ground-Based Surveying), and Application (Forest Management, Coastline Management, Air Pollution, Water Pollution, Agriculture, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global LiDAR sensor for environmental industry generated $249.3 million in 2019, and is expected to generate $653.8 million by 2027, witnessing a CAGR of 15.1% from 2020 to 2027.

Drivers, restraints, and opportunities

Automated processing in LiDAR systems, surge in demand for 3D imaging, and rise in need for aerial LiDAR drive the growth of the global LiDAR sensor for environmental market. However, lack of awareness hinders the market growth. On the other hand, increase in need for LiDAR-captured data in newer applications and emergence of 4D LiDAR present new opportunities in the coming years.

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Covid-19 Scenario

• Production facilities in the electronics and semiconductors sector have been closed down completely or partially due to lockdown enforced in many countries. In addition, unavailability of workforce and shortage of raw materials occurred across the globe.
• The food supply chain has been disrupted and the demand to consolidate local food production systems and create a circular economy focused on soil restoration has been increased.
• During the post-lockdown, the manufacturing facilities would resume operations and the production volumes would increase significantly and the demand from application sectors would rise steadily.

The 2D LiDAR segment to continue its leadership status during the forecast period

Based on type, the 2D LiDAR segment contributed to the highest market share in 2019, accounting for more than two-thirds of the global LiDAR sensor for environmental market, and is expected to continue its leadership status during the forecast period. This is due to rise in demand for field monitoring applications and generate information about quality of environment. However, the 3D LiDAR segment is expected to manifest the highest CAGR of 16.2% from 2020 to 2027, owing to its usage to estimate plant properties such as canopy height, carbon stock, canopy structure, and species.

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The agriculture segment to maintain its dominant share during the forecast period

Based on application, the agriculture segment accounted for the highest share in 2019, holding more than one-fourth of the global LiDAR sensor for environmental market, and will maintain its dominant share in terms of revenue during the forecast period. This is due to its application for using the land more efficiently and rise in yields through detailed monitoring. However, the forest management segment is projected to portray the largest CAGR of 16.4% from 2020 to 2027. This is attributed to increase in adoption of topographical surveying techniques in forest planning applications to examine and map contours of ground.

North America to maintain its lead position throughout the forecast period

Based on region, North America held the highest share in 2019, contributing to nearly two-fifths of the global LiDAR sensor for environmental market, and will maintain its lead position throughout the forecast period. This is due to development of advanced technologies as well as relatively higher awareness about environmental protection among population with support of organizations such as Environmental Protection Agency (EPA), The Nature Conservancy, and National Research Council. However, Asia-Pacific is expected to register the highest CAGR of 17.2% during the forecast period, owing to heavy dependence on the agricultural industry along with high availability of low-priced agricultural products from China.

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Leading market players

• Faro Technologies Inc.
• Geodetics
• Leica Geosystems AG
• MeaTech (Measurement Technologies) Solutions LLP
• Mitsubishi Electric Corporation
• RIEGL
• Sick AG
• Topcon Positioning Group
• Trimble Inc.
• Vaisala

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