The LiDAR market size is estimated to grow at USD 1.3 billion in 2021 and reach USD 3.4 billion by 2026; it is projected to grow at a CAGR of 21.6% from 2021 to 2026.
The rising adoption of LiDAR systems in UAVs, increasing adoption of LiDAR in engineering and construction applications, use of LiDAR in geographical information systems (GIS) applications, the emergence of 4D LiDAR, and easing of regulations related to the use of commercial drones in different applications are among the factors driving the growth of the LiDAR market. However, safety threats related to UAVs and autonomous cars and the easy availability of low-cost and lightweight photogrammetry systems are restraining the growth of the market. Increasing investments in LiDAR startups by automotive giants, opportunities for SWIR-based design in the long term, technological shifts with the adoption of solid-state, MEMS, flash LiDAR, and other LiDAR technologies, development of better geospatial solutions using sensor fusion, and initiatives undertaken by governments of different countries to encourage the use of LiDAR drones for large-scale surveys are expected to provide growth opportunities to the market players during the forecast period. Moreover, the high cost of LiDAR services and the limited availability of geospatial data pose challenges to the market. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1261 The major strategies adopted by the top 5 players in the market included product launches and developments, collaborations, contracts and acquisitions. Top Key Players are : Leica Geosystems AG (Sweden), Trimble, Inc. (US), Teledyne Optech (Canada), FARO Technologies, Inc. (US) and RIEGL Laser Measurement Systems GmbH (Austria). Leica Geosystems AG (Sweden) Leica Geosystems AG, a wholly-owned subsidiary of Hexagon that provides LiDAR products and solutions, is one of the major players in the overall market. Acquisitions play an important role in Hexagon’s portfolio and growth strategy. Over the past 20 years, the company has completed more than 140 acquisitions to expand its technologies and domain expertise, of which ten acquisitions were done in 2018. The major strategy that the company follows is the digital transformation of its solutions, which, in turn, can provide actionable intelligence to its customers. These products and solutions are used in various applications, such as surveying, infrastructure & construction, aerospace & defense, and others. The major revenue of the GES segment is driven by the high demand from EMEA and the Americas. know more @ https://electronicsandsemiconductor.wordpress.com/2022/07/05/lidar-market-by-technology-type-and-application-2021-2026/ About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441
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