LiDAR Market Is Expected To Grow Owing To An Increase In Use Of 4D Technologies Throughout The Forecast Period, 2024-2028
Global LiDAR
market is anticipated to witness an increased demand primarily from the
automotive, robotics and mapping sectors in the forecast period from 2024 to
2028.
According to
TechSci Research report, “LiDAR Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018–2028,” the Global LiDAR Market is expected
to show consistent growth throughout the coming years.
A laser's light
energy is used by Light Detection and Ranging (LiDAR) sensors to scan the
ground and measure varying distances. One of the main factors propelling the
market's growth is the rising demand for UAVs or drones for use in a variety of
applications, including photography and videography, construction, and danger
detection, among others. For the creation of precise and accurate 4D maps and
models, UAV LiDAR can be utilized as an alternative to conventional LiDAR types
and platforms. By using LiDAR, precise and thorough 4D terrain bitmap picture
models can be produced.
In many smart cities’
projects, advanced 3D and 4D LiDAR’s are widely used to build maps and more
accurately examine the construction site. The need for 4D and 3D imaging
solutions is considerably increasing along with the enormous expansion of smart
cities projects and industrial production applications. The traditional 3D
imaging technologies, such as cameras, radar, and others, are not able to
identify microscopic-sized things. While LiDAR technology makes an exact
duplicate of the item and employs a shorter wavelength to identify things down
to the microscopic level. LiDAR systems are employed in several industrial
applications, such as semiconductor production, robotics, and factory
automation, because of their remarkable capabilities.
Browse over XX
market data Figures spread through XX Pages and an in-depth TOC on "Global LiDAR Market.”
Global LiDAR Market is segmented by type, by component, by application,
region and competitive landscape.
Based on
Type, the market is segmented into Terrestrial, Aerial, Mobile & UAV.
Based on
Component, the market is segmented into LASER and Inertial Navigation System, Camera, GPS GNSS
Receiver and MEMS. Based on Application into Corridor Mapping, Seismology,
Exploration & Detection, and Others.
Due to the
growing use of aerial mapping technology, the category is anticipated to rise
over the next years. The aerial LiDAR system replaces photogrammetry by
producing precise and complete digital elevation models. Compared to
terrestrial alternatives, this method provides more area coverage and does huge
area mapping in less time.
Based on
Component, the market is segmented into Laser, and Inertial Navigation System.
The global LiDAR Market is anticipated to be dominated by the category of
laser. 2D point cloud data generated by laser scanners is used for
localization, mapping, and object and environment mapping. Additionally, a
decrease in the price of laser scanning is anticipated to lead to the discovery
of new technologies, which will fuel the segment's expansion.
Key market
players in the Global LiDAR Market are:
- Faro Technology, Inc
- RIEGL USA, Inc
- Quantum Spatial,
Inc
- Leica Geosystem
Holdings AG
- Teledyne Optech
Incorporated (A part of Teledyne Technologies)
- Trimble Navigation
Limited
- Ultra-Communications
- Vertilas GmbH
- Velodyne LiDAR, Inc
- Sick AG
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“In the forthcoming years, the Global
LiDAR market will rise due to the rising demand for LiDAR because of its many
applications. Digital terrain models with LiDAR integration now have higher
spatial resolution. It is now simpler to measure the distance using a computerized,
three-dimensional representation of the target. Therefore, activities like
detecting changes in the slope for mining and agricultural sites, as well as
other comparable tasks, may be carried out very precisely. LiDAR (Light
Detection and Ranging) may be quite useful for a range of industrial
applications due to its great accuracy as well. Over the course of the forecast
period, these elements will support market growth.” said, Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“LiDAR Market–Global Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Type
(Terrestrial, Aerial, Mobile & UAV), By Component (LASER, Inertial
Navigation System, Camera, GPS GNSS Receiver and MEMS), By Application
(Corridor Mapping, Seismology, Exploration & Detection, Others), By Region,
Competition,” has evaluated the future growth potential of Global LiDAR Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global LiDAR Market.
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