Increasing adoption of LiDAR in engineering and construction applications is one of the major factors driving LiDAR market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, January 3, 2023 /EINPresswire.com/ -- The Global Light Detection and Ranging Market report assesses the historical and current data along with a thorough analysis of the market dynamics. The report also sheds light on the significant market growth driving and restraining factors that are anticipated to influence the market growth through the forecast period. The report focuses on potential growth opportunities and limitations the prominent players of the industry might face during the entirety of the forecast timeline.

There are several applications for LiDAR, including geography, mineral extraction, forestry, civil engineering, architecture, and archaeology. Lidar systems allow scientists and mapping professionals to examine both natural and manmade environments with accuracy, precision, and flexibility. In addition, use of LiDAR in Geographical Information Systems (GIS) applications, emergence of 4D LiDAR, and easing of regulations related to use of commercial drones in different applications are other factors driving revenue growth of the market. Moreover, increasing investments in LiDAR startups by automotive giants, opportunities for SWIR-based design in long term, technological shifts with adoption of solid state, MEMS, flash LiDAR, and other LiDAR technologies, development of better geospatial solutions using sensor fusion, and initiatives undertaken by governments of different countries to encourage use of LiDAR drones for large-scale surveys are also expected to provide growth opportunities to LiDAR market players and drive market revenue growth during the forecast period.

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Key Highlights From the Report

The 2D segment accounted for largest revenue share in 2021. Accuracy is made possible by light traveling at a constant speed through air. X and Y dimensions are captured by 2D sensors using a single plane of lasers, as a result, single rotating laser beam or a constant ring of light emitted can be achieved. Ring lasers and 2D LiDAR sensors both gather the same kind of X and Y-dimensional information. Best sensors to use for activities, such as range and detection, are 2D sensors. In addition, robot's surroundings are scanned and detected using active optical sensors, such as 2D LiDAR Online, hence 360-degree and virtual tours are also getting more popular. Furthermore, virtual 2D representations of a region can be made using LiDAR pulses and these representations can be utilized to generate virtual tours, which is significantly driving revenue growth of this segment.

The sensors segment is expected to register at a steady revenue growth rate during the forecast period. This is due to rapid technological advancements in end-use industries and significant investments in ultra-thin solid-state LiDAR sensor that sees 360 degrees. For instance, LiDAR is a well-known range-finding technique that detects objects by shining light onto them. In the automotive industry, a LiDAR sensor serves as an eye for autonomous vehicles, assisting them in determining the distance to surrounding objects as well as vehicle's speed or direction.

The Europe market accounted for a significant revenue share in 2021. This is due to rising demand for mechanical LiDAR in industries such as automotive, manufacturing, and industrial purposes is. In addition, presence of important businesses, such as Hexagon AB, Sick AG, Leoshpere, and others are also expected to drive market revenue growth.

The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.

Key companies operating in the Light Detection and Ranging market include:

Teledyne Geospatial, Leica Geosystems AG, Trimble Inc., Xenomatrix, Riegl Laser Measurement Systems GmbH, Sick AG, SURESTAR, Yellowscan, and Valeo.

Emergen Research has segmented the global LiDAR market based on technology, component, type, range, application, end-use, and region:

Technology Outlook (Revenue, USD Million; 2019-2030)

2D

3D

4D

Component Outlook (Revenue, USD Million; 2019-2030)

Laser Scanner

Sensors

Navigation and Positioning Systems

Others

Type Outlook (Revenue, USD Million; 2019-2030)

Solid-state

Mechanical

Range Outlook (Revenue, USD Million; 2019-2030)

Short

Medium

Long

Application Outlook (Revenue, USD Million; 2019-2030)

Corridor Mapping

Environment

Engineering

ADAS and Driverless Cars

Law Enforcement

Others

End-Use Outlook (Revenue, USD Million; 2019-2030)

Automotive

Defense and Aerospace

Healthcare

Agriculture

Mining

Entertainment

Others

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Regional Analysis:

The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.

Key regions in the market include:

North America

U.S.

Canada

Europe

U.K.

Italy

Germany

France

Rest of EU

Asia Pacific

India

Japan

China

South Korea

Australia

Rest of APAC

Latin America

Chile

Brazil

Argentina

Rest of Latin America

Middle East & Africa

Saudi Arabia

U.A.E.

South Africa

Rest of MEA

Key Questions Addressed in the Report:

Who are the leading players in the Light Detection and Ranging industry?

Which region is expected to dominate the market in the coming years?

What are the key applications of Light Detection and Ranging?

Which segment is expected to garner traction during the coming years?

What are the key strategies adopted by leading players in the market?

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About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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