Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||908018|
|Published||Content info||228 Pages
Delivery time: 1-2 business days
|Published: April 1, 2021||Content info: 228 Pages||
Global LiDAR Market to Reach $2.8 Billion by 2027
Amid the COVID-19 crisis, the global market for LiDAR estimated at US$939.2 Million in the year 2020, is projected to reach a revised size of US$2.8 Billion by 2027, growing at aCAGR of 16.8% over the period 2020-2027. Mechanical LiDAR, one of the segments analyzed in the report, is projected to record 16.4% CAGR and reach US$2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Solid-State LiDAR segment is readjusted to a revised 17.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $278 Million, While China is Forecast to Grow at 16.2% CAGR
The LiDAR market in the U.S. is estimated at US$278 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$482.3 Million by the year 2027 trailing a CAGR of 16.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.1% and 14.4% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 12.3% CAGR.
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