LiDAR Market
The Global LiDAR Market sizeis estimated to be USD 0.96 billion in 2019 and is predicted to reach USD 5.33billion by 2030 with a CAGR of 16.9% from 2020-2030.
LiDAR is light ranging and detection system which uses laser light inthe form of pulse for the examination, detection and mapping of objects. LiDARsystems are used over conventional systems as it provides highly accurate dataand 3D scanning in a short span of time. This also helps in the 3D mapping ofearth 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 NavigationLtd, Riegl Laser Measurement Systems GmbH, Quantum Spatial Inc., FaroTechnology Inc., Innoviz Technologies Ltd, Velodyne LiDAR, Neptec TechnologiesCorp., Topzon Positioning Systems Inc., 3D Laser Mapping Ltd, Denso Corporationand 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 segmentedinto terrestrial / Static, Aerial, Mobile, and Short-range. On the basis ofapplication, the market is divided into Corridor mapping, Seismology,Exploration and detection, and others. On the basis of component, the market isdivided into Laser, Inertial navigation system, Camera, Gps/Gnss receiver, andMicro Electro Mechanical System (MEMS). On the basis of end-user the market isdivided into Defence and aerospace, Civil Engineering, Archaeology, Forestryand Agriculture, Mining Industry, and Transportation. Geographic breakdown andanalysis of each of the aforesaid segments includes regions comprising NorthAmerica, Europe, Asia-Pacific, and RoW.
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North America is expected to represents the increased adoption ofLiDAR and is expected to hold the major market share over the forecast period.The other factors contribute the market growth include technologicaladvancement, wide application and increased in defence and increased adoptionof 3D imaging coupled with increased automation. Asia Pacific is expected todenote the rapid growth rate with gradual increase in market share over theforecast period. The other factors include rapid industrialization; increasedautomation and increased demand for accurate and precise information in shortspan of time are further expected t drive the growth of LiDAR market.
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