The global demand for LiDAR Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Light Detection and Ranging, better known as LiDAR is a remote sensing technology that measures the distance to a target by using pulsed laser for illuminating a target, subsequently, measuring the reflected pulses with a sensor. The working of the LiDAR is similar to that of Sonar and Radar, however, the former uses light waves from a laser, instead of radio or sound waves used in the latter.
Market Dynamics
The soaring acknowledgment of light detection and ranging technology in environmental mapping and automobile safety application areas is projected to enhance LiDAR market growth. The increasing use of monitoring and 3D modelling applications in the construction sector is also assessed to uplift the market growth. The market is expected to grow considerably in the future owing to automation in various industries. The high-quality implication of LiDAR technology in several large-scale engineering projects is estimated to bode well for market growth. The key challenge for the LiDAR market is the intense competition among key players to achieve market domination. The unawareness about the Light Detection and Ranging technology and its application in the underdeveloped and emerging economies is recognized as a limitation for the market. Also, the outbreak of the COVID-19 pandemic has disturbed the end-user market and predicted that the impact will continue to persist until the end of the second quarter.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of LiDAR.
Market Segmentation
The entire LiDAR market has been sub-categorized into product type, application and component. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Product Type
- Airborne
- Terrestrial
- Mobile & UAV
By Application
- Corridor Mapping
- Engineering
- Environment
- Exploration
- ADAS
- Others
By Component
- GPS
- Navigation (IMU)
- Laser Scanners
- Others
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for LiDAR market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global LiDAR Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the LiDAR market include Faro Technology, Inc., Leica Geosystem Holdings AG, Teledyne Optech Incorporated (A part of Teledyne Technologies), Trimble Navigation Limited, RIEGL USA, Inc., Quantum Spatial, Inc., Velodyne LiDAR, Inc., Sick AG, YellowScan, GeoDigital. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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