LiDAR market with impact of Covid-19 by technology, component, type of installation, range, service, end-use application and region
The growing adoption of LiDAR systems in drones, the growing adoption of LiDAR in engineering and construction applications, the use of LiDAR in geographic information system (GIS) applications, the emergence of LiDAR 4D and the relaxation of regulations related to the use of commercial drones in different applications are among the growth factors of the LiDAR market.
New York, December 10, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “LiDAR Market With Covid-19 Impact by Technology, Component, Installation Type, Range, Service, End-Use Application And Region – Global Forecast to ‘in 2026 “- https://www.reportlinker.com/p03872741/?utm_source=GNW
However, security threats associated with drones and self-driving cars and the easy availability of lightweight and inexpensive photogrammetry systems are holding back the growth of the market.
Increased investment in LiDAR startups by automotive giants, long-term SWIR-based design opportunities, technological changes with the adoption of semiconductor technologies, MEMS, flash LiDAR and other LiDAR technologies, development of better ones Geospatial solutions using the fusion of sensors, and the initiatives undertaken by the governments of different countries to encourage the use of LiDAR drones for large-scale surveys are expected to provide growth opportunities for the players in the LiDAR market during the forecast period . In addition, the high cost of LiDAR services and the limited availability of geospatial data pose challenges for the LiDAR market.
3D LiDAR technology is estimated to have significant market share
Based on technology, the LIDAR market is segmented into 2D, 3D and 4D LiDAR. In 2020, 3D LiDAR segment accounted for the largest market share among other LiDAR market segments.
The main factor contributing to the dominance of 3D LiDAR is the widespread adoption of 3D LiDAR in applications such as corridor mapping, engineering, environment, meteorology and mapping. However, the 4D LiDAR market is expected to grow at the highest CAGR from 2021 to 2026.
This growth is attributed to the strong adoption of 4D LiDAR in applications such as ADAS, driverless cars and robotics.
ADAS and driverless car end-use applications expected to grow at the highest CAGR from 2021 to 2026
The LiDAR market is segmented, by application, into corridor mapping, engineering, environment, ADAS and driverless cars, exploration, urban planning, cartography, metrology, and other applications. ADAS and driverless cars have provided attractive growth opportunities for the LiDAR market as auto giants and other business leaders increasingly invest in ADAS and driverless cars.
Due to this, the ADAS and driverless car applications market is expected to grow at the highest CAGR during the forecast period. The growing adoption of solid-state LiDAR in ADAS and driverless cars for providing security is expected to drive the market in the coming years.
Auto giants are adopting LiDAR systems for their Tier 3 and Tier 4 autonomous vehicles, which is expected to have a positive impact on the sales of these types of vehicles, and subsequently, the LiDAR market.
APAC is attributed with the highest CAGR growth in the LiDAR market during the forecast period (2021-2026)
North America accounted for the largest market share of LiDAR market in 2020. North America is one of the important markets for LiDAR; it includes the United States, Canada and Mexico.
This region is more advanced in the adoption of LiDAR than other regions. Growing investments in ADAS and driverless cars and increased awareness of the benefits of LiDAR systems are driving the growth of the LiDAR market in North America.
In addition, the major players in the LiDAR market, comprising manufacturers, developers, distributors and suppliers of LiDAR sensors and equipment, are based in North America. In recent years, major technological developments relating to LiDAR have taken place in the North American and European regions. , which have enabled manufacturers in these regions to export high-end LiDARs to growing markets such as Asia-Pacific and regions of the Middle East.
These exports are one of the key factors that are expected to drive the LiDAR market in North America and Europe.
The breakdown of the main report participants is shown below:
â¢ By type of business: level 1 – 45%, level 2 – 35% and level 3 – 20%
â¢ By designation: C level executives – 35%, director level – 43% and others – 22%
â¢ By region: North America – 33%, Europe – 30%, APAC – 24% and RDM – 13%
The LiDAR market was dominated by Leica Geosystems AG (Sweden), Trimble, Inc. (United States), Teledyne Optech (Canada), FARO Technologies, Inc. (United States), RIEGL Laser Measurement Systems GmbH (Austria).
This research report categorizes the LiDAR market market by technology, component, type, installation type, range, service, end-use application, and region. The report describes the major drivers, restraints, challenges and opportunities relating to the LiDAR market and predicts the same till 2026.
Main advantages of purchasing the report
The report would assist the leaders / new entrants in this market in the following ways:
1. This report segments the LiDAR market comprehensively and provides the closest market size projection for all sub-segments in different regions.
2. The report helps stakeholders understand the market pulse and provides them with information on the key drivers, restraints, challenges and opportunities for market growth.
3. This report would help stakeholders to better understand their competitors and obtain more information to improve their position in the company. The competitive landscape section includes product launches and developments, collaborations, contracts and acquisitions.
4. This report would help to understand the pre- and post-COVID-19 scenarios of how LiDAR penetration will look like during the forecast period. The regional segment includes the country impact analysis of COVID-19 and the initiatives taken to overcome these impacts.
Read the full report: https://www.reportlinker.com/p03872741/?utm_source=GNW
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