DALLAS, TX / ACCESSWIRE / February 10, 2021 / According to a market report by Lucintel, the future of the LiDAR market looks promising with opportunities in the corridor mapping, engineering, environment, and ADAS and driverless car applications. The LiDAR market is expected to grow with a CAGR of 17% from 2019 to 2024. The major drivers for this market are growing demand for the 3D imaging technology, increasing governments and institutes supports for the adoption of LiDAR, and application of LiDAR in engineering projects.
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Mechanical and solid-state are the LiDAR type of this market. Solid-state LiDAR is the largest segment. Within the LiDAR market, corridor mapping, engineering, environment, ADAS and driverless, and exploration are the major applications. ADAS and driverless car is the largest application for LiDAR. Airborne and ground-based are the major installation types of the LiDAR market..
Within the LiDAR market, corridor mapping, engineering, environment, ADAS and driverless, and exploration are the major applications. LiDAR for ADAS and driverless car application is expected to witness the highest growth over the forecast period due to the increase need for passenger safety and optimize the cost of car ownership.
North America will remain the largest market over the forecast period due to the increasing use of LiDAR in environment, corridor mapping, meteorology, and urban planning applications. Asia Pacific region is expected to witness the highest growth over the forecast period due to increasing use of LiDAR in ADAS application to increase the passenger safety.
Teledyne Optech, Leica Geosystems, Riegl Laser Measurement Systems, Trimble, Faro Technologies, Quantum Spatial (Aerometric), Beijing Surestar Technology (Isurestar), Velodyne LiDAR, Geokno and Sick AGare are among the major manufacturers of LiDAR.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the LiDAR market by LiDAR type, installation, range, component, service, application, and region. Lucintel has prepared a comprehensive research report entitled "LiDAR Market 2019-2024: Trends, Forecast, and Opportunity Analysis." This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the LiDAR market by LiDAR type, installation, range, component, service, application, and region as follows:
By LiDAR Type [$M shipment analysis for 2013 - 2024]:
- Mechanical LiDAR
- Solid-State LiDAR
By Installation [$M shipment analysis for 2013 - 2024]:
- Airborne
- Ground-Based
By Range [$M shipment analysis for 2013 - 2024]:
- Short
- Medium
- Large
By Component [$M shipment analysis for 2013 - 2024]:
- Laser Scanners
- Navigation and Positioning Systems
- Other Components
By Service [$M shipment analysis for 2013 - 2024]:
- Aerial Surveying
- Asset Management
- GIS Services
- Ground-Based Surveying
- Other Services
By Application [$M shipment analysis for 2013 - 2024]:
- Corridor Mapping
- Engineering
- Environment
- ADAS & Driverless
- Exploration
- Other
By Region [$M shipment analysis for 2013 - 2024]:
- North America
- United States
- Canada
- Mexico
- Europe
- UK
- Germany
- Italy
- Asia Pacific
- China
- Japan
- India
- Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
Cell: 303.775.0751
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SOURCE: Lucintel