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LiDAR Market: Illuminating the Future of 3D Sensing and Mapping
The LiDAR (Light Detection and Ranging) market is rapidly gaining momentum as one of the most transformative technologies in modern sensing, mapping, and automation applications. From autonomous vehicles and drones to smart city infrastructure and environmental monitoring, LiDAR technology is redefining how we perceive and interact with the physical world through high-resolution 3D data.
Market Overview
In recent years, the LiDAR market has experienced exponential growth, driven by increasing demand for advanced mapping and navigation systems. Valued at several billion dollars in 2023, the market is expected to grow at a significant CAGR through 2030, supported by the surge in autonomous driving projects, precision agriculture, and industrial automation.
LiDAR technology works by emitting laser pulses to measure distances and create detailed 3D models of environments. Its superior accuracy and speed compared to traditional methods make it indispensable across multiple industries.