LiDAR Technology: Mapping the Future with Precision and Innovation
The global LiDAR market is experiencing steady growth, with its valuation reaching USD 2.74 billion in 2024 and projected to expand at a compound annual growth rate (CAGR) of 9.5% from 2025 to 2030. This upward trend is fueled by technological advancements in autonomous vehicle systems, increased adoption in geospatial mapping and environmental monitoring, and growing applications in drones and UAVs. Key Market Drivers Advancements in Autonomous Vehicle Technology LiDAR technology plays a pivotal role in self-driving cars, enabling highly accurate 3D mapping and real-time object detection. The automotive industry is investing heavily in LiDAR sensors to enhance safety and reliability in autonomous systems. Additionally, government regulations promoting advanced driver assistance systems (ADAS) have strengthened LiDAR adoption. The development of higher-resolution sensors and r...