LiDAR Market Size, Share & Segment By Type (Mechanical, Solid-State) By Technology (2D, 3D, 4D) By Service (Aerial Surveying, Asset Management, GIS Services, Ground-Based Surveying, Other Services) By Component (Laser Scanner, Navigation And Positioning Systems, Others) By End-Use Application (Corridor Mapping, Engineering, Environment, ADAS And Driverless Cars, Exploration, Urban Planning, Cartography, Meteorology, Other End-Use Applications) By Regions And Global Forecast 2022-2028
Pune, Maharashtra -- (SBWIRE) -- 08/11/2022 -- LiDAR is known as the light detection and ranging, which is another name for laser imaging detection and ranging. LiDAR technology is a type of remote sensing that uses laser light to measure a variety of distances from the earth. The term "light detection and ranging," or "LiDAR," refers to the process of generating a three-dimensional visual image. Included are a high power laser tool, a micro-electro-mechanical system (MEMS), and a GPS transmitter. Based on the capabilities of each of these systems, the gadget can produce images of the highest quality. As a result, it is used in many different sectors, such as the automotive, healthcare, aerospace, and defense industries.
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Drivers, Restraints, Opportunities, and Challenges
The expansion of the LiDAR market is being driven by rising demand for 3D imaging technology along with an increase in the number of innovative applications requiring LiDAR technology. The performance of LiDAR systems being vulnerable to environmental features is another element driving the LiDAR market's expansion. Additionally, this LiDAR technology is essential for tracking volcanic ash that can disrupt air travel, and in the upcoming years, it is anticipated to be integrated into systems for tracking oil and sand, which will drive the market expansion of LiDAR systems.
A restraint for the sector is the high cost of LiDAR services and the scarcity of geospatial data. However, the use of LiDAR technology in the automotive industry has given rise to numerous fresh applications and is anticipated to create lucrative market opportunities throughout the projected time.
Impact of the COVID-19 Pandemic
Businesses in the LiDAR ecosystem have been impacted by the COVID-19 pandemic. It has an impact on LiDAR users globally, including manufacturers and dealers. The LiDAR market testing program is anticipated to be one of the applications most impacted by COVID-19. The demand for crude oil was significantly decreased by the closure of limited areas and transportation, which also resulted in a drop in crude oil prices. Due to COVID-19, this reduction in the oil and gas industry has caused a decline in the LiDAR market in the Middle East and Africa.
By Software Type
1.Business Intelligence & Analytics Solutions
2.Physician Quality Reporting Solutions
3.Clinical Risk Management Solutions
4.Provider Performance Improvement Solutions
By Delivery Mode
1.Web-& Cloud-based Solutions
2.Unstructured Data Abstraction
3.Data Processing & Analysis
By End User
2.Ambulatory Care Centers
The solid-state LiDAR category has led the global market in terms of type and is predicted to grow more rapidly in the years to come. Solid-state LiDAR sensors don't need any mechanically moving components because they are built on silicon chips. It has a fantastic horizontal FOV.
The segment of laser scanners is anticipated to have the highest proportion of the LiDAR market in terms of components. 2D point cloud data generated by laser scanners is used for localization, mapping, and object and environment mapping.
According to installation, the main revenue-producing category turned out to be ground-based. The ground-based segment is anticipated to develop at the greatest CAGR of these two categories during the anticipated timeframe. Systems that are grounded are either mobile or stationary. Compared to airborne systems, ground-based LiDAR systems are more economical. Additionally, the expansion of the automobile industry and the rise in the use of mobile, ground-based systems are fueling the growth of the LiDAR market.
As a result of widespread use of LiDAR systems across a variety of industries, including urban planning, meteorology, environment, and corridor mapping, North America is anticipated to hold the biggest market share. Additionally, the application of LiDAR in ADAs and driverless cars in the area is driving market growth. The fastest growth is anticipated in the Asia-Pacific area as a result of growing infrastructure development and more attention to forest management.
Competitive Landscape Outlook
Some of the key participants involved in the LiDAR market are Beijing SureStar Technology, Quanergy Systems, Leica Geosystems, FARO Technologies, Teledyne Optech, Velodyne Lidar, RIEGL Laser Measurement, Phoenix LiDAR Systems, and Leddartech Inc.
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Table Of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact Of Ukraine-Russia War
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
Head of Business Development & Strategy
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