Yahoo Finance Call for Advanced Surveillance and Security Applications to sweep the LiDAR Market, Reaching US$ 1.9 Billion in 2022- Fact.MR Study
The Lidar Market Study Published By Fact.MR Offers An In-Depth Outlook Of Key Factors Promoting Demand And Sales In The Market. Further, the Study Provides Insights into Trends, Opportunities, and Recent Developments across Major Geographies and Segments, Including Type, Power Source, and Application for the Forecast Period (2022-2032)
Seoul, South Korea, July 07, 2022 (GLOBE NEWSWIRE) -- The global LiDAR market size is bound to reach US$ 6.29 Billion in 2032, marking a CAGR of 12.6% between 2022 and 2032. Technological advancements due to LiDAR-based digital terrain models are all set to provide better precision in the applications like inland waterways, water runoff for mining or agriculture sites, and change detection on the hillsides. This factor is bound to take the LiDAR market by storm in the forecast period.
As per Fact.MR, the global LiDAR market is set to reach a valuation of US$ 1.9 Billion in 2022. The market is expected to ride on need to ascertain optimal utilization of land.
Advanced 4D and 3D LiDARS are employed on an extensive note in numerous smart city projects for creating maps and also explore construction area on an explicit note. This factor is also likely to drive the LiDAR market.
For Critical Insights on LiDAR Market, Request a Sample Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=478
The usual 3D imaging technologies that include radar, camera, and various others are incapable of detecting small objects up to microscopic level. This is where LiDAR technology comes into picture. It makes use of shorter wavelength for detecting these objects to the level mentioned above, that too, with utmost precision and replica of these objects in return.
North America holds the largest market share due to growing number of start-ups and adoption of the solid-state LiDAR systems across numerous applications. “Google Car” is one such project that uses LiDAR technology. Velodyne, in partnership with Nikon Corporation, does provide LiDAR for advanced and autonomous safety applications. Europe and the Asia-Pacific are also expected to follow suit in the forecast period.
Which Market Factors are Influentially Shaping LiDAR Demand?
“Increasing Popularity of Autonomous Vehicles”
LiDAR sensors have proven remarkably accurate in autonomous driving technologies and hence have witnessed a substantial increase in deployment in the automotive industry.
Rising investments in the development of autonomous driving technologies are expected to fuel the adoption of LiDAR scanners and sensors across various automotive applications over the coming years.
“High Cost of Deployment”
LiDAR technology is still a relatively new technology in the world and this makes it an expensive technology to deploy or research on. This factor is majorly hindering the overall demand for LiDAR across the world.
However, as technology develops and advances it could potentially overcome the obstacle of high costs and become a mainstay in various applications.
Various LiDAR station manufacturers are focusing on reducing the cost of LiDAR technology to overcome this restraining factor.
To learn more about LiDAR Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=478
Key Segments Covered in the LiDAR Industry Survey
LiDAR Market by Product Type :
Solid-state LiDAR
Mechanical LiDAR
LiDAR Market by Technology :
2D LiDAR
3D LiDAR
4D LiDAR
LiDAR Market by Component :
Laser LiDAR Scanners
Navigation and Positioning Systems
Others
LiDAR Market by Installation Type :
Airborne
Ground-based
LiDAR Market by Range :
Short LiDAR
Medium LiDAR
Long LiDAR
LiDAR Market by Service :
Aerial Surveying
Asset Management
GIS Services
Ground-based Surveying
Others
LiDAR Market by End-use Application :
Corridor Mapping
Engineering
Environment
ADAS and Driverless Cars
Exploration
Urban Planning
Cartography
Meteorology
Other End-use Applications
Competitive Landscape
The global LiDAR market is subject to organic as well as inorganic course of development.
For instance,
Japan-based Toshiba, in June 2022, did table novel advances on the behalf of its LiDAR unit. This new-fangled laser projector unit has raised detection range to close to 300 meters, which is the longest in the world.
Luminar, in March 2022, did announce acquiring Freedom Photonics (one of the high-performance laser manufacturers).
Leica Geosystems AG, in February 2021, did announce Leica RTC360 3D laser scanner. It requires users’ monitoring, thereby rendering enhanced productivity, scanning efficiency, and flexibility on planning the reality capture activities.
Get Customization on LiDAR Market Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=478
Key players in the LiDAR Market
Faro Technologies Inc.
Leica Geosystems Holdings AG
Trimble Navigation Limited
Velodyne LiDAR, Inc.
RIEGL USA Inc.
Sick AG
YellowsScan
GeoDigital
Key Takeaways from LiDAR Market Study
Who are the leading players in the LiDAR market?
Which region is anticipated to dominate the global LiDAR market during 2022-2032?
What is the expected value of LiDAR market in 2022?
Which are the challenges faced in the LiDAR market?
What will be the market size of global LiDAR market during the forecast period (2022-2032)?
At what rate will the global LiDAR market grow until 2032?
About the Technology Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned technology team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the technology industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
Explore Fact.MR's Coverage on the Technology Domain-
Automatic Number Plate Recognition Market- The global automatic number plate recognition market was valued at US$ 3.1 Billion in 2021, and in 2022 to be valued at US$ 3.5 Billion. During the 2022-2032 period of assessment, demand is expected to rise at an 11.5% value CAGR, likely to reach US$ 10.4 Billion by the end of the said forecast period.
Mass Notification Systems Market- The global mass notification systems market is poised to increase at a steady CAGR of 21.7%, reaching US$ 85.7 Bn by 2032 from US$ 12 Bn in 2022.
IoT Sensors Market- Global sales of IoT sensors is expected to procure US$ 27.4 Billion in 2022, up from US$ 21.8 Billion in 2021. The global IoT sensors market is expected to garner absolute dollar growth of US$ 146.3 Billion by 2032.
BIM Extraction Software Market- The building information modeling (BIM) extraction software industry reached US$ 140.9 Million in FY2021, and is likely to register a Y-o-Y increase of over 10% in 2022, expected to be valued at US$ 155.1 Million. During the 2022-2032 period of assessment, the market is forecast to grow at a 9.5% value CAGR, reaching US$ 384.3 Million.
Application Transformation Market- The global application transformation market was valued at US$ 12.1 Billion in 2021, and is projected to register a Y-o-Y increase of 11.6% in 2022 to be valued at US$ 13.5 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 10% value CAGR, likely to reach US$ 34.9 Billion by the end of the said forecast period.
IT Operations and Services Management Market- The global IT operations and services management market valued US$ 26.2 Billion in 2021 and is likely to reach US$ 27.8 Billion by 2022. IT operations and services management (ITOSM) market is expected to reach a valuation of US$ 53.2 Billion during the forecast period, 2022-2032.
Management System Certification Market- The global management system certification market is poised to increase at a steady CAGR of 5.1%, reaching US$ 43.6 Bn by 2032 from US$ 25 Bn in 2021.
Managed Services Market- The global managed services market was valued at US$ 242.9 Billion in 2021, and is projected to register a Y-o-Y increase of 7.8% in 2022 to be valued at US$ 262 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 7.4% value CAGR, likely to reach US$ 535.7 Billion by the end of the said forecast period.
Location Analytics Market- The global location analytics market was valued at US$ 15.7 Billion in 2021, and is projected to register a Y-o-Y increase of 14% in 2022 to be valued at US$ 17.9 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 14.1% value CAGR, likely to reach US$ 66.5 Billion by the end of the said forecast period.
Wire and Cable Market- The global wire and cable market reached a valuation of US$ 150.02 billion in 2020. Sales of wires and cables are slated to rise at a healthy CAGR of 5.3% to reach US$ 285.05 billion by the end of 2031. Demand for low voltage wires and cables is anticipated to rise at a higher CAGR of 8% through 2031.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
Email: sales@factmr.com
Tel: +1 (628) 251-1583
Follow Us: LinkedIn | Twitter
