LiDAR in Construction Market Analysis

LiDAR in Construction Market Analysis

The airborne LiDAR segment held nearly 20% of the LiDAR in Construction market share in 2021 and is slated to garner substantial revenue through 2030. This growth is attributed to technological advancement and the mounting demand for customized mapping and surveying solutions in several nations. The airborne segment is further classified into topographic and bathymetric. The topographic segment captured above 70% revenue share in 2021 led by escalating product usage for measuring terrestrial lands using the LiDAR technology.

The solid-state segment is poised to witness around 30% growth through 2030 owing to its inexpensive nature. The lesser price point makes it a highly preferable choice among most consumers over its counterpart. Moreover, solid-state integrated systems offer better performance than traditional LiDAR solutions.

The LiDAR mapping market is set to hold about 30% of the market share by 2030. The rising need for a high resolution, compact, and low-cost mapping solution is boosting the LiDAR mapping segment growth. Moreover, the accuracy of LiDAR technology is also proliferating its use in mapping.
 

LiDAR in construction market for the private sector is estimated to progress at about  10% growth rate from 2022 to 2030. The segmental development is attributed to the amplifying demand for complex large infrastructure at a reasonable cost. Additionally, the growth of private companies in varied industries due to the availability of lucrative opportunities will also augment product adoption.
 

The Asia Pacific LiDAR in construction market size is anticipated to expand at approximately 15% CAGR through 2030. Government organizations have been relying on LiDAR technology companies for conducting bathymetric surveys in the APAC region, impelling the product demand. For instance, in February 2020, the Australian government selected Fugro, a Dutch geo-data specialist, to join the HydroScheme Industry Partnership Program (HIPP) and increase the hydrographic industry’s capability in the country.
 

Another region that may emerge as a key revenue hub is the Middle East & Africa. The LiDAR in construction industry in MEA is likely to grow at more than 15% growth up to 2030. The positive interest showcased by governments towards the development of smart city infrastructure for sustainable and efficient connectivity between cities and states will be a major factor fueling the regional demand.