LiDAR market is fuelled by the unique strategy of product launch. The chief contributor for the rise of LiDAR market is rising acceptance of imaging technology using 3D technique to capture geospatial scans for agriculture, military, forest, and for the purpose of civil infrastructure.
With a view to initiate improvisation in their products, the key players are now implementing use of advancements in technology and are also introducing new products to gain advantage over market competition. To increase penetration in the market, particularly for short range and airborne LiDARs, several companies are introducing innovative products.
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Light detection and ranging (LiDAR) is an active, remote sensing and distance mapping technology. Over the past decade the technology has become synonymous with 3D scanning and sensing using sensors. The robust capabilities of 3D-LiDAR in enabling wide area scanning with unparalleled accuracy has made its usage popular in robotics and autonomous vehicle systems.
The capabilities of real-time detection of data and high-precision maps inherent in 3D-LiDAR have unlocked exciting potential in self-driving cars application, thus opening lucrative prospects for market players
Laser light offers precise and accurate data points in a short time span. Owing to their capability of offering accurate 3D scanning and data images in a very short span of time, LiDAR systems are always preferred over conventional method of surveying. LiDAR is generally utilized to create maps with high-resolution, and with applications in seismology, laser altimetry, geodesy, airborne laser swath mapping, geomatics, laser guidance, archaeology, atmospheric physics, geography, forestry, and geomorphology. LiDAR technology is utilized in navigating and controlling autonomous cars. There are two types of LiDAR namely, Terrestrial LiDAR and Airborne LiDAR. The word LiDAR stands for Laser Imaging, Detection and Ranging.
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LiDAR Market- Key Players
Sick AG, Quantum Spatial (Aerometric, Inc.), Trimble Inc., Faro Technology, Geokno India Pvt. Ltd., Beijing Beike Technology Co., Ltd, YellowScan, Riegl Laser Measurement Systems GmbH Leica Geosystems – Part of Hexagon AB, Velodyne LiDAR, Inc., Teledyne Optech Inc. are some of the key players which are functioning in the LiDAR market.
The LiDAR Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
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Regional Segments Analyzed Include
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
North America dominated the market in terms of revenue share and it is also expected to grow at higher rate during the projected period. Due to rising investment of key players towards driverless cars application, North America is expected to lead the LiDAR market. Moreover, some of the top companies for example Faro, Trimple and Velodyne are located in the Unites States which is also one of the major factors that is fuelling the growth of LiDAR market in North America region.
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