LiDAR Market Global Demand with Advancement in Defense and Latest Technology
Posted by Vedika on February 3rd, 2021
The Global LiDAR Market size is estimated to be USD 0.96 billion in 2019 and is predicted to reach USD 5.33 billion by 2030 with a CAGR of 16.9% from 2020-2030.
LiDAR is light ranging and detection system which uses laser light in the form of pulse for the examination, detection and mapping of objects. LiDAR systems are used over conventional systems as it provides highly accurate data and 3D scanning in a short span of time. This also helps in the 3D mapping of earth surfaces and terrain which are not visible naturally to the human eyes.
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Top Companies: Sick AG, Quanergy Systems Inc., Teledyne Optech, Leica Geoystems AG, Trimble Navigation Ltd, Riegl Laser Measurement Systems GmbH, Quantum Spatial Inc., Faro Technology Inc., Innoviz Technologies Ltd, Velodyne LiDAR, Neptec Technologies Corp., Topzon Positioning Systems Inc., 3D Laser Mapping Ltd, Denso Corporation and others.
The global LiDAR market share is analysed on the basis of product, target disease, and geography. On the basis of product, the market is segmented into terrestrial / Static, Aerial, Mobile, and Short-range. On the basis of application, the market is divided into Corridor mapping, Seismology, Exploration and detection, and others. On the basis of component, the market is divided into Laser, Inertial navigation system, Camera, Gps/Gnss receiver, and Micro Electro Mechanical System (MEMS). On the basis of end-user the market is divided into Defence and aerospace, Civil Engineering, Archaeology, Forestry and Agriculture, Mining Industry, and Transportation. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America is expected to represents the increased adoption of LiDAR and is expected to hold the major market share over the forecast period. The other factors contribute the market growth include technological advancement, wide application and increased in defence and increased adoption of 3D imaging coupled with increased automation. Asia Pacific is expected to denote the rapid growth rate with gradual increase in market share over the forecast period. The other factors include rapid industrialization; increased automation and increased demand for accurate and precise information in short span of time are further expected t drive the growth of LiDAR market.
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About the AuthorVedika
Joined: November 28th, 2020
Articles Posted: 128
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