Factors Driving the LiDAR Market

The jobsite is becoming smarter due to a number of factors. One contributing technology is LiDAR—and it is expected to grow 25.8 percent between 2017 and 2022.

The major factors driving the LiDAR market are a rise in encouragement from the governments and institutes, increasing application of LiDAR in engineering projects, and technological superiority of LiDAR technology. Laser scanners are expected to grow at a rapid pace during the forecast period, led by North America.

The market for laser scanners is expected to grow at the highest CAGR (compound annual growth rate) during the forecast period. A rapid development of laser technology and increasing demand for LiDAR system contribute to the highest growth rate of the market for laser scanners.

The LiDAR market in North America is expected to grow at the highest rate between 2017 and 2022. Some of the factors contributing to the growth of this market include awareness, increasing adoption of LiDAR in various applications, and improved features.

As this technology improves, the advances will lead to a safer and more productivity construction jobsite.

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