LiDAR Drone Market Research and Business Insights Till 2027

The global LiDAR drone market size was valued at USD 136.69 million in 2019 and is projected to reach USD 482.67 million by 2027, exhibiting a CAGR of 20.02% during the forecast period (2020 – 2027).

Segment:-

"Solid-state LiDAR Segment to Exhibit Highest CAGR Backed by its Numerous Benefits"

Based on type, the market is bifurcated into mechanical LiDAR and solid-state LiDAR. Out of these, the mechanical LiDAR segment earned 90.8% in terms of LiDAR drone market share in 2019. The solid-state LiDAR segment, on the other hand, is anticipated to exhibit the highest CAGR owing to its ability to provide several benefits.

Regional Analysis:-

"Rising Innovations in the U.S. to Favor Growth in North America"

Geographically, North America held USD 54.81 million in terms of revenue in 2019. This growth is attributable to the presence of multiple industry giants in this region. Also, the U.S. is exhibiting an excellent development and innovation for improving the LiDAR technology, especially in the mapping industry. Asia Pacific, on the other hand, is set to showcase a strong growth fueled by the increasing applications of LiDAR drones in disease controlling and precision farming studies.

Regional Analysis for LiDAR Drone Market:
• North America (the USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)