Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report ongoing by
Infinium Global Research on lidar market provides in-depth analysis of segments
and sub-segments in the global as well as regional lidar market. The study also
highlights the impact of drivers, restraints, and macro indicators on the
global and regional lidar market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of
global lidar market. According to the report, the global lidar market is
projected to grow at a CAGR of 13.6% over the forecast period of 2021-2027.
LiDAR (Light Detection and
Ranging) is the latest surveying technology used to measure the distance of
obstacles. LiDAR system uses light in the form of pulsed laser and can make
digital 3-D representations of the target. A lidar instrument principally
consists of a laser, a scanner, and a specialized GPS receiver. Airplanes and
helicopters are the most commonly used platforms for acquiring lidar data over
broad areas. Lidar systems allow scientists and mapping professionals to
examine both natural and manmade environments with accuracy, precision, and
flexibility.
The factors such as the rising
adoption of LiDAR systems in UAVs, increasing adoption of LiDAR in engineering and
construction applications are driving the demand for the LiDAR market. The
extremely high accuracy provided by the LiDAR seniors increases their adoption
in automated vehicles, self-driving cars, rails, and UAV applications.
Nowadays, the use of aerial vehicles in the commercial environment is getting
popularized. Aerial vehicles are used in the inspection, monitoring, surveying,
and mapping applications, but it has a high risk of collision. To avoid
collision with objects these aerial vehicles are to be installed with
automotive augmented reality, especially the sensors with LiDAR technology.
Furthermore, automakers have started integrating Advanced Driver Assistance
Systems (ADAS) in their vehicles to visualize the ever-changing environments
that fuel the growth of LiDAR sensors in the automotive anti-collision systems
market. However, safety threats related to UAVs and autonomous cars restraints
the market growth. Moreover, increasing investments in LiDAR start-ups by
automotive giants as well as the development of better geospatial solutions
using sensor fusion are expected to provide opportunities to the market
players. The pandemic had a fairly negative effect on the global economy. The
growth of the global economy dropped over 2020. Several industries registered
lower sales owing to declined demand from overseas markets. Moreover, the
manufacturing sector was completely closed down during the lockdown. This
affected the local as well as the national economy. Furthermore, the flow of
LiDAR components was also hampered during the pandemic as many ports and
warehouses across the world were closed. This, in turn, had a negative impact
on the global LiDAR sensors market.
Geographically, North America
dominates the LiDAR sensors market owing to the use of LiDAR in applications
such as environment, corridor mapping, meteorology, and urban planning. Europe
is the second-largest market for LiDAR sensors owing to increasing consumers’
preference towards the adoption of safety features and government regulations
on the inclusion of safety features in cars. The European Commission is calling
for all new cars to be fitted with a mandatory set of safety features within
the next three years.
The report on global lidar market
covers segments such as product, component, and application. On the basis of
product, the sub-markets include airborne, terrestrial, and mobile & UAV.
On the basis of component, the sub-markets include GPS, navigation (IMU), laser
scanners, and others. On the basis of application, the sub-markets include
corridor mapping, engineering, environment, exploration, ADAS, and others.
The report provides profiles of
the companies in the market such as Teledyne Optech, FARO Technologies, Inc.,
Leica Geosystems AG, Trimble, Inc., RIEGL Laser Measurement Systems GmbH, Sick
AG, Quantum Spatial, Beijing SureStar Technology Co. Ltd., Velodyne Lidar,
Inc., and Aurora.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of lidar market. Moreover, the study highlights current market trends and
provides forecast from 2021-2027. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.
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