Light Detection and Ranging (LiDAR) market will reach USD 6.71

PUNE, India, Sept. 22, 2022 (GLOBE NEWSWIRE) — Global light detection and ranging (LiDAR) market. size was 1.32 billion dollars in 2018 and is expected to be released 6.71 billion dollars by 2026, demonstrating a CAGR 22.7% during the settlement period. LiDAR is used in a wide range of applications, including geomorphology, atmospheric physics, archaeology, geomatics, airborne laser strip mapping, and others.

This information has been provided Fortune Business Insights™ in his research report titled “LiDAR Detection and Ranging Market, 2019-2026”.

Segments:

Solid-state LiDAR will register significant growth due to the flexibility of deployment in various sectors

By type, the market is segmented into solid-state and mechanical LiDAR systems. Of these, the solid-state LiDAR segment is expected to register a commendable CAGR during the estimated period. The solution does not require any moving parts to function and is manufactured on a silicon chip, which facilitates its application in various sectors. Depending on the region, the industry is divided into Europe, Asia Pacific, North America, Latin America, Middle East and Africa.

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List of key players mentioned in the report:

  • Teledyne Technologies
  • FARO Technologies, Inc.
  • SICK AG
  • Beijing SureStar Technology Co. Ltd.
  • Trimble Inc.
  • YellowScan
  • HEXAGON
  • RIEGL Laser Measurement Systems GmbH

Report scope and segmentation:

Report coverage Details
Forecast period 2019-2026 years
CAGR forecast 22.7%
Cost forecast for 2026 6.71 billion US dollars
Base year 2018 year
Light Detection and Ranging (LiDAR) market. 2018 size 1.32 billion US dollars
Historical data 2015-2017 years
Number of pages 160
Covered segments By type of analysis, by deployment analysis, by application analysis
Light Detection and Ranging (LiDAR) market. Growth drivers The growing emergence of innovative 3D and 4D imaging technologies that will offer traction for LiDAR adoption

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Terrestrial LiDAR is gaining momentum due to increasing use in corridor mapping and meteorology

The Terrestrial Light Detection and Ranging (LiDAR) segment is set to register a marked expansion during the study period. The technology is widely implemented in a number of applications, including corridor mapping, meteorology and ADAS (advanced driver assistance systems) and driverless cars. Terrestrial solutions are deployed to detect, scan and create projection analysis of vertical foothills.

Report coverage:

The report provides an in-depth analysis of the key aspects that will drive the expansion of the industry during the forecast period. It also covers important steps and initiatives taken by leading companies to maintain their position in the industry. These findings were obtained after careful collation of data, research and interaction with key stakeholders.

Drivers and restrictions:

The growing demand for aerial photolidar solutions is due to the growing need to detect unexplored locations

The growth of the light detection and ranging (LiDAR) market can be mainly attributed to the rapid demand for aerial mapping and cartography systems to explore historical details and discover unexplored locations. One of the main features of LiDAR is its exceptional accuracy in detecting water runoff for mining or agriculture, inland watercourses, numerous climatic changes on hillsides, etc.

However, this technology does not perform well in situations or areas with huge glare and high angles of sunlight. Laser pulses depend on the principle of reflection. This aspect holds back the expansion of the industry to some extent.

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Detailed content:

  • introduction
    • Definition, by segment
    • Research approach
    • Sources
  • Resume
  • Market dynamics
    • Drivers, constraints and opportunities
    • New trends
  • Key ideas
    • Macro- and microeconomic indicators
    • Consolidated SWOT analysis of key players
  • Global LiDAR Market Analysis, Insights and Forecast, 2019-2026
    • Key conclusions / Summary
    • Market Analysis, Insights and Forecast – By Type
    • Market analysis, insight and forecast – by deployment
    • Market analysis, insight and forecast – by programs
      • Mapping and cartography
      • ADAS (advanced driver assistance system)
      • Observation
      • Environment
      • Intelligence and detection
      • Other (meteorology, etc.)
    • Market analysis, insight and forecast – by industry
      • Automobile
      • Aerospace industry and defense
      • Health care
      • IT & Telecom
      • Oil and gas
      • Other (production, mining, etc.)
    • Market analysis, insight and forecast – by region
      • North America
      • Europe
      • Asia-Pacific region
      • Middle East and Africa
      • Latin America

Contents To be continued…!

Regional information:

North America leads the way with the growth of new startups

The industry value in North America is expected to register a significant appreciation during the study period. This rise can be attributed to the growing adoption of solid-state LiDAR solutions, the rapid deployment of core 3D and 4D imaging technologies, and the rise of new startups. These factors are further complemented by increased investment in research projects by well-known companies in the region.

The Asia-Pacific Light Detection and Ranging (LiDAR) market share is poised to register a significant CAGR during the forecast period. The growth can be attributed to the rapid demand for LiDAR solutions in the IT, telecom and manufacturing sectors. In addition, major companies in the region are establishing collaborations and mergers with other players to launch and develop advanced products.

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Competitive landscape:

Leading players are developing and launching new solutions to maintain their positions in the industry

Major Light Detection and Ranging (LiDAR) companies are focusing on adopting a number of strategic steps to maintain their positions in the market. These include mergers, acquisitions and product development. In addition, many industry players participate in trade conferences and research activities to ensure that advanced solutions are launched.

Key industry development:

September 2021 – YellowScan announced the launch of its innovation called YellowScan Explorer. The solution can be switched to a number of UAV platforms along with the ability to be installed on light manned aircraft.

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