India LiDAR Market
India LiDAR Market Size Zooming 4X to Touch USD 1.5 Billion by 2029
Published | 03 October 2023
India LiDAR market size is booming due to the enhanced spatial resolution provided by LiDAR-based digital terrain models boosting accuracy in various applications, such as monitoring inland waterways, detecting changes on hillsides, and assessing water runoff in mining and agricultural areas.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated that the India LiDAR market size at USD 367.5 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India LiDAR market size to grow at a robust CAGR of 22.04% reaching a value of USD 1,481.7 million by 2029. The enhanced spatial resolution provided by LiDAR-based digital terrain models is poised to improve accuracy in various applications such as monitoring inland waterways, detecting changes on hillsides, and assessing water runoff in mining and agricultural areas. The market is projected to grow due to the rising trend of automating LiDAR technology to reduce manual labor and enhance overall productivity.
Opportunity: Growing adoption of LiDAR in new applications
LiDAR is a fundamental technology for autonomous vehicles (self-driving cars and trucks). As the automotive industry explores autonomous transportation solutions, the demand for LiDAR sensors is increasing. LiDAR helps vehicles perceive their surroundings in real-time, enhancing safety and navigation. India's urbanization and the development of smart cities require accurate geospatial data. LiDAR technology aids in creating 3D city models, improving urban planning, traffic management, and disaster preparedness.
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Corridor mapping segment held the largest market share by application
Based on application, the India LiDAR market is divided into corridor mapping, seismology, exploration & detection, and others. The corridor mapping segment holds the highest market share by application. India has been making significant investments in the development and upkeep of its roads and rail systems. LiDAR corridor mapping is crucial for the design, planning, and oversight of major infrastructure projects' routes. Many Indian towns are growing and modernizing their transport networks due to the country's rapid urbanization. In metropolitan settings, corridor mapping is used to develop and improve the public transit and road networks.
Impact of COVID-19 on India LiDAR market
The COVID-19 pandemic outbreak had numerous negative effects on the India LiDAR (Light Detection and Ranging) market. At first, supply chain problems in the market resulted in delays in the shipment of LiDAR parts and systems. Timelines for projects were impacted by travel restrictions and lockdowns that made it difficult to conduct on-site LiDAR data collection and surveying. Budget reductions in many areas due to the pandemic's economic unpredictability had an influence on infrastructure development projects and slowed investments in LiDAR technology. However, the LiDAR market showed resilience and adaptability as the pandemic spread.
Competitive Landscape
The India LiDAR market is fragmented, with numerous players serving the market. The key players dominating the India LiDAR market include Ecosmob Technologies, GeoSpatial World, Hexagon India, Igisoft, Microgeo Services, Navcom India, Optech India, Precision Geo Services, Sivananda, Electronics, Surtech, and Trimble India. These players use various strategies to enhance their market share including facility expansion, product diversification, alliances, collaborations, partnerships, and acquisition to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the India LiDAR market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India LiDAR market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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Publish Date: October 2023
LiDAR-based digital terrain models' improved spatial resolution provides more accurate information in applications including inland waterways, change detection on hillsides, and water runoff for mining and agricultural areas. It helps organizations in increasingly automating their processes to save labor and boost productivity. These benefits are expected to boost the growth of the India LiDAR Market during the forecast period between 2023 and 2029.
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