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LiDAR Market to 2027 - Latest Trends, Development Outlook and Demand Analysis

LiDAR Market 2021 - Latest Trends, Future Development Outlook and Demand Analysis to 2027

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LiDAR Market to 2027 - Latest Trends, Development Outlook and Demand Analysis

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  1. LiDAR Market 2021 - Latest Trends, Future Development Outlook and Demand Analysis to 2027 • Recent trends in the LiDAR industry are propelled by an escalation in the adoption of strategic moves by major industry players. These steps comprise acquisitions, mergers, partnerships, product development, and other initiatives. • For instance, in June 2021, Velodyne Lidar, Inc., set up its new India Design Center in the city of Bangalore. The center is an expansion of the company’s growth strategy of driving continuous innovation in the field of LiDAR sensor and software solutions that are instrumental in transforming lives by advancing smart communities and safe mobility in global markets. • Owing to similar advancements, the LiDAR market share is expected to surpass USD 7 billion through 2027, states the most recent study by Global Market Insights, Inc. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  2. This growth is on account of the rising penetration of solid-state LiDAR due to its inexpensive nature and high performance in comparison to conventionally used sensors. Driven by these factors, the solid-state segment is estimated to escalate at a CAGR of more than 50% over 2021 and 2027. • However, LiDAR hardware is a bit expensive and this stands as a key factor preventing its adoption in the large-scale manufacturing of autonomous cars. Recognizing this, market players are formulating strategic initiatives for accelerating the innovation process in the field of solid-state LiDAR technology. • The bridges and tunnels segment in the LiDAR industry is slated to record a market share of more than 50% by the end of 2027. This rise is attributed to the applicability of LiDAR products in the inspection of bridges. These products offer georeferenced and high-resolution colorized point cloud scans in addition to panoramic images that give detailed geometric information regarding a bridge. • The generated scan information provides details regarding the defects in bridges, in turn avoiding the loss of life and assets in future. This has created an escalating demand for LiDAR technology, boosting industry expansion through the ensuing years. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  3. Request for a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/421 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  4. Regional Analysis • The LiDAR market in Europe is expected to record a revenue of more than USD 2 billion through 2027. This upsurge is due to the increasing demand for accurate 3D maps and self-driving cars. The regional growth is driven by an increase in the development of innovative solutions. • Competitive Analysis • Major LiDAR market players are Beijing SureStar Technology Co. Ltd., FARO Technologies, Inc., Geokno, Hexagon AB (Leica Geosystem), Innoviz Technologies Ltd, LeddarTech Inc., NV5 Inc. (Quantum Spatial), Outster Inc., Quanergy Systems, Inc., RIEGL Laser Measurement Systems GmbH, RoboSense LiDAR, Sick AG, Teledyne Technologies (Teledyne Optech), Topcon Positioning Systems, Inc., Trimble Inc., Vaisala (Leosphere), Valeo, Velodyne Lidar, and Yellowscan. © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  5. Latest Research Report On LiDAR Market @ https://www.gminsights.com/industry-analysis/lidar-light-detection-and-ranging-market Request for sample of this research report@ https://www.gminsights.com/request-sample/detail/421 Request for customization: https://www.gminsights.com/roc/421 © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com

  6. Stay In Touch You can visit us at: www.gminsights.com Thank You…! © 2017 Global Market Insights, Inc. USA. All Rights Reserved www.gminsights.com www.gminsights.com

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