LiDAR in Construction Market: Global Analysis, Opportunities And Forecast To 2030

 

As per a recent research report, Global LiDAR in Construction Market share is likely to surpass USD 1.5 billion valuation by 2030

LiDAR is undergoing a revolutionary transformation over the recent years, bringing transparency, visibility, and efficacy to a numerous industries and sectors that influence most of human lives every day. One of these sectors is the construction industry.

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It would be credible to note that LiDAR is rapidly becoming a vital technology for construction firms worldwide. In 2021, Hitachi Construction Machinery announced investment in Baraja- the next-generation LiDAR sensor firm- to develop autonomous mining. Baraja’s LiDAR sensors are more reliable and higher performance sensors that enable the safe rollout of autonomous vehicles sooner.

It is worth mentioning that LiDAR technology can streamline construction projects by enhancing the productivity of processes and teams. For construction personnel, the LiDAR approach offers the ability to create 3-dimensional models of existing space and develop digital plans on those spaces. It can also be implemented to evaluate prefabricated materials, making it far simpler to engage in different construction process like reducing costs, driving efficiency, and allowing architectural designs to be pushed beyond its limits.

Such breakthrough developments by different companies are likely to present new growth opportunities for LiDAR in construction market expansion through 2030. Some of the other recent advancements include:

1.       Mississippi Department of Transportation’s use of LiDAR technology for road construction projects

In 2022, the Mississippi Department of Transportation purchased LiDAR drones to add to LiDAR-equipped vehicles to map out road construction projects in the state. The drones would enable MDOT workers to perform activities in the field much accurately and faster than conventional measuring tools. It will also enhance safety for workers, thus reducing the time spent on working in or near moving traffic.

For the record, LiDAR drones also played an important role in the recent State Route 26 slide repair construction in Greene County in the state. The project included the overall reconstruction of roadway and 300 feet of highway.

2.       Drone-based LiDAR survey for metro phase-II project in Kochi, India

Recently, Kochi Metro Rail Limited (KMRL) has initiated a drone-based LiDAR survey as part of the design and planning works of the Kochi metro’s phase-II extension to Kakkanad. The project will help KMRL map and update the ongoing developments and changes in structural features along the alignment in recent years.

The LiDAR technology and metro phase project would also plan non-motorized transport initiatives and first-and-last-line connectivity on the proposed stretch.

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1.       Ouster’s partnership with TACTICAWARE

In March 2022, Ouster Inc.- an American LiDAR technology firm, collaborated with TACTICAWARE to unveil their joint security solution. Dubbed the Ouster X Accur8vision, the product is developed to monitor and protect infrastructure from growing prevalence of natural disasters.

It has been reported that the launch would enable Ouster to supplement existing security systems by adding a layer of perception that can be utilized to detect potential threats proactively over the forthcoming years.

In the years ahead, the demand for LiDAR in construction would grow appreciable given the thriving construction sector worldwide. In Europe, the market is foreseen to reflect a CAGR of 25% over 2022-2030, with the need for high-quality elevation data for geological interventions escalating multifold and government authorities seeking new technologies for easing construction works across different economies.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.
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