LiDAR, or Light Detection and Ranging, is a remote sensing technique that measures distances and creates high-resolution 3D maps of the environment using laser light. The LiDAR industry is quickly expanding as demand for autonomous cars, robots, and other applications requiring extremely precise 3D mapping and perception grows.
From 2018 to 2023, the worldwide LiDAR market is estimated to reach USD 1.8 billion, rising at a compound annual growth rate (CAGR) of 35.6%. The growing need for LiDAR technology in the autonomous car sector, as well as the expanding usage of LiDAR in surveying and mapping, industrial automation, and security and surveillance, is driving the market.
Mechanical LiDAR and solid-state LiDAR are the two major types of LiDAR systems. Mechanical LiDAR scans the surroundings with rotating mirrors, whereas solid-state LiDAR measures distance with a two-dimensional array of photodetectors. Mechanical LiDAR is often more expensive and has a greater range, but solid-state LiDAR is smaller, lighter, and less expensive, making it more appropriate for incorporation into consumer gadgets and autonomous cars.
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Key Segments Covered in LiDAR Industry Research
- LiDAR Market by Product Type :
- Solid-state LiDAR
- Mechanical LiDAR
- LiDAR Market by Technology :
- 2D LiDAR
- 3D LiDAR
- 4D LiDAR
- LiDAR Market by Component :
- Laser LiDAR Scanners
- Navigation and Positioning Systems
- Others
- LiDAR Market by Installation Type :
- Airborne
- Ground-based
- LiDAR Market by Range :
- Short LiDAR
- Medium LiDAR
- Long LiDAR
- LiDAR Market by Service :
- Aerial Surveying
- Asset Management
- GIS Services
- Ground-based Surveying
- Others
- LiDAR Market by End-use Application :
- Corridor Mapping
- Engineering
- Environment
- ADAS and Driverless Cars
- Exploration
- Urban Planning
- Cartography
- Meteorology
- Other End-use Applications
- LiDAR Market by Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Impact of COVID-19 on Mindfulness Meditation Apps Market
The report discusses the future prospects for the LiDAR market as well as the impact of the ongoing global pandemic, COVID-19. It provides a breakdown of how the epidemic has affected the global marketplace. The demand and supply series was immediately disrupted by the epidemic. The economic impact on businesses and financial markets is also evaluated in the LiDAR Market report. In order to provide its clients with information and strategies to deal with business challenges both during and after the COVID-19 pandemic, Futuristic Reports has gathered advice from a number of industry delegates and engaged in secondary and primary research.
The Covid19 pandemic has transformed the market landscape. The market ecosystem has taken a directional shift in the way supply-side of the market is accessed. The report covers the aftermath of the Covid19 catastrophe.
The global LiDAR Market report answers numerous pertinent questions, some of which are:
- What are some of the latent areas of investments in the LiDAR Market?
- Which region is expected to emerge as showing the most attractive growth rate during the forecast period and which factors will be crucial to its growth?
- What trends are likely to change the status quo of the positions held by leading players of the LiDAR Market in the not-so-distant future?
- Which product/service/technology segments holds game-changing potential to dramatically shape the competitive dynamic in the LiDAR Market?
- What are the strategies adopted by top players to retain their stronghold in the LiDAR Market?
- Which strategic moves will new entrants adopt to gain a strong foothold in the LiDAR Market
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- In-depth understanding of key industry trends shaping the present growth dynamics
- Offers value chain analysis and price trend analysis of various offering of competitors
- Offers data-drive decision to help companies decide strategies that need recalibration
- Offers insights into areas in research and development that should attract
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