LiDAR Market Revenue, Major Players, Consumer Trends, Analysis – IndustryARC

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LiDAR Compared to its Alternatives Along with Capability to Provide Enhanced Efficiency with Reduced Human Efforts is Expected to Drive the LiDAR Market Growth

HYDERABAD, TELANGANA, INDIA, February 10, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that LiDAR Market has accounted to $1,811.5 Million in 2023 and is estimated to grow at a CAGR of over 12 % during the forecast period of 2018 to 2023 majorly driven by the rising demand of mapping and surveying in various applications such as agriculture, infrastructure, transportation, and corridor mapping. LiDAR stands for light detection and ranging or it can also be defined as laser imaging detection and ranging It is a remote sensing method in which light is used in the form of a laser to measure variable distances to the earth. It is a combination of 3D scanning and laser scanning hence sometimes it can be defined as 3D laser scanning. LiDAR can be segmented into three types they are Solid-State LiDAR, Airborne LiDAR, and Terrestrial LiDAR. Some of the benefits of using LiDAR technology are the ability to capture large amounts of area in a relatively small amount of time and low requirement of manual labor. LiDAR mapping system uses the most convenient technique to cover or scan the area which is called as drone lidar survey. LiDAR systems collect information by sending thousands of pulses of light per second and by calculating the time it takes for the pulse to reach the LiDAR sensor. This results in the accurate analysis and 3D description of geometric structures. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

1. Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.

2. Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.

3. Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.

4. Analyze the sales and distribution channels across key geographies to improve top-line revenues.

5. Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

6. Get a quick outlook on the market entropy – M&A, deals, partnerships, product launches of all key players for the past 4 years.

7. Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

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Segmental Analysis:

1. The advancements of latest technologies such as single-photon and Geiger-mode LiDAR is expected to change the market drastically in the near future as they are effective particularly in the aerial mapping

2. In 2017, The United States Geological Survey (USGS) Broad Agency has announced the launch of 3D Elevation Program (3DEP) initiative according to which high quality topographic data and a wide range of three dimensional representations of the natural and constructed features of the country has to be gathered with the help of LiDAR technology over an 8 year period

3. Scientists at National Oceanic and Atmospheric Administration (NOAA) of the United States are planning to incorporate the usage LiDAR technology in order to increase the accuracy of the weather forecast

4. LiDAR technology has provided enormous opportunities for autonomous cars as it can create 360 degrees high-resolution 3D view of the surrounding area and also developed products such as lidar rangefinder which offers accurate and fast ranging up to the wide distance. This is expected to have a huge impact on the market in the near future.

Competitive Landscape:

The top 5 players in the LiDAR industry are -

1. Faro Technologies Inc

2. Velodyne LiDAR

3. Leica Geosystems AG

4. Quanergy LiDAR Systems Inc

5. Riegl Laser Measurement Systems GmbH

Click on the following link to buy the LiDAR Market Report:
https://www.industryarc.com/reports/request-quote?id=15765

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https://www.industryarc.com/Report/19086/LiDAR-for-security-market

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