LiDAR Market Anticipated to Grow at a CAGR of 23.0% during 2016-2024

New York, USA, 2018-Dec-06 — /EPR Network/ —

According to Goldstein Research, LiDAR Market size is expected to reach USD 5.7 billion by 2024, growing at a CAGR of 23.0% over the forecast period 2016-2024. Increasing exploration activities in oil & gas and metals & mining industries are propelling the need for accurate and remote sensing data with advanced analytics technology and thus driving the growth of global LiDAR market.  LiDAR Market segmentation has been done on the basis of components, product type, services, applications, end user and geography. Based on application, the corridor mapping segment holds 37.5% market share of total LIDAR market and is projected to dominate the LiDAR market during the forecast period.

Global LiDAR market is largely dominated by North America with a market share of 40.0% in 2016. Moreover, APAC tends to grow at the highest CAGR of 22.5% over the forecast period.

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Market Segmentation

On the basis of our in-depth analysis, Global LiDAR Market can be segmented as follows:

Based on Components

• Laser
• Scanner
• GPS Receiver
• Inertial Navigation System
• Micro Electro Mechanical System

Based on Product Type

• Ground Based LiDAR
• Aerial LiDAR
• Unmanned Aerial Vehicle(UAV) LiDAR

Based on Services

• Aerial Surveying Services
• Ground-Based Surveying Services
• Geographic Information System (GIS) Services
• Asset Management Services

Based on Applications

• Corridor Mapping
• Seismology
• Exploration and Detection
• Cartography
• Meteorology
• Engineering
• Driving Assistance
• Other Application ( Environment, Urban Planning)

Based on End-User

• Aerospace & Defense
• Civil Engineering
• Archaeology
• Forestry and Agriculture
• Mining
• Automotive

By Region

• North America LiDAR Market Analysis, 2016-2024
• Europe LiDAR Market Analysis, 2016-2024
• The Middle East And Africa LiDAR Market Analysis, 2016-2024
• Latin America LiDAR Market Analysis, 2016-2024
• Asia Pacific LiDAR Market Analysis, 2016-2024
• Rest Of The World LiDAR Market Analysis, 2016-2024

 

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“Global LiDAR Market Outlook 2024” contains a detailed overview of the global LiDAR market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by components, product type, services, applications, end user and geography.

The Global LiDAR Market Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities, and investments. The in-depth analysis of LiDAR market report will help the clients to assess their business strategies as per the competitive environment in the market space.

Major players of the global LiDAR market discussed in the report are: AutonomouStuff, Blom, Faro Technologies, Geokno India Pvt, Geodigital, Leica Geosystems, Michael Baker International, Mira Solutions, Quantum Spatial, Riegl, Sick AG, Teledyne Optech Inc., Topcon Positioning Systems Inc, Trimble Navigation Limited, Velodyne LIDAR, Quanergy Systems Inc., Airborne Hydrography AB, 3D Laser Mapping,etc.

Further, Global LiDAR Market Report encompasses the major trends & growth opportunities, market dynamics, and other growth factors. The LiDAR Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

LiDAR Market is growing on the basis of advancement in mentioned below industruies:

Autonomous Vehicles Market

Autonomous Vehicles Market Size is expected to grow at a CAGR of more than 39% during the forecast period 2016-2024. The autonomous vehicles are still in the testing phase but once there is the deployment of autonomous cars (expected by the year 2020), the world autonomous vehicle industry is expecting a sales of more than 600,000 units.  Autonomous Vehicles Market is majorly driven by North America owing to the fact that adoption of semi-autonomous vehicles and the required infrastructure is apt as compared to other regions of the world. North America is anticipated to be closely followed by Western Europe with nearly 3 million autonomous vehicles to be sold by 2024

Heavy Vehicle ABS Market

Growing number of road accident fatalities automotive OEMs and regional governments are taking initiatives by mandating safety features such as automatic braking systems in vehicles, which is the major factor for the expansion and evolution of Heavy Vehicle ABS Market. Moreover, high recognition rates in developed countries by consumers are probable to boost the adoption of automatic braking system which will propel the progression of heavy vehicle automatic braking system market over the forecast period.

Automotive Sensors Market

Automotive Sensors Market is expected to harness USD 43.7 billion by 2024 from USD 24.7 billion, growing at a CAGR of 7.8% over the forecast period 2016-2024. Passenger safety concerns, rising sales of vehicles, regulatory mandates for fuel emission standards, improving fuel efficiency, the necessity of safety systems and increasing manufacturing of autonomous vehicles are the key factors driving the Global Automotive Sensors Market. Sensors used for advanced driver-assistance systems (ADAS) applications are anticipated to be the major growth segment in the global automotive sensors market

Surveillance Robots Market

various unmanned robots such as drones founded vast applications for monitoring and security purposes and being used by defense and civil sectors as well as used by individuals and companies for their personal surveillance benefits such as child care, security, and more. Moreover, numerous industry operators already automated the major operations in order to reduce the error and to increase productivity. The Surveillance Robots Market size is set to reach USD 10.23 billion by 2025, growing at a CAGR of 14.3% over the forecast period.