September 14, 2022 13:35 ET | Source: Straits Research Straits Research

New York, United States, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The global market of LiDAR is projected to progress at a decent pace of growth, with significant growth is expected in the latter half of the forecast period. The benefits of LiDAR technology over conventional competitive technologies is the main reason behind the market development. Increased degree of fragmentation in the market and the emergence of technologies such as 4D radars with continuous signal transmission bolster its growth.

Efficiency in the operations, more accurate and precise calculations, time-saving and productive output generation are the advantages over other conventional surveying and assessment solutions, promoting the market's growth in the forecast years.

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Due to the COVID-19 outbreak, the companies' financial instability is expected to restrain these consumers from opting for the LiDAR products due to the high initial price of the LiDAR systems. The decrement in automobile manufacturing and decreasing demand for these vehicles to create a steep downfall for automobile vehicle sales till the time of resurgence by the end of 2021. These conditions will reduce the effect of growth perspectives that are expected to be generated by the adoption of LiDAR systems in ADAS and driverless cars.

The environment segment is expected to emerge as a leader in terms of market share hold by these segments. The ability to provide a more thorough and productive analysis regarding the forest coverage, vegetation characterization, density of the tree cover, and average height of the tree cover above ground offers growth for the market. The manual techniques for these applications are time-consuming, laborious, and based on approximations. The accurate, exact analysis covering a large amount of assessment area is the prime benefit of using the LiDAR system.

Development of new advanced products with the consideration of cost-effectiveness and outcomes addressing the requirements of different applications to develop the market for LiDAR. 

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North America's market is expected to govern a substantial market share in the global market by adopting LiDAR systems in various applications and market entry of major technology development global companies. The increased competition in terms of the development of cost-effective solutions is also expected to develop the market.

The Asia-Pacific market is expected to develop as the most lucrative market on the back of established automotive manufacturing clusters of automobile manufacturers in the region. The increasing production in countries like China, India, and Japan developed markets in the ADAS segment in the latter half of the forecast period.

Key players in the global LiDAR market are

3.2       Value Chain Analysis: LiDAR Market

3.4       Porter’s Five Forces Analysis

3.5       Impact of Corona on Market

4.1.1    Market Size & Forecast, 2020-2030, (USD Million)

4.2.1    Market Size & Forecast, 2020-2030, (USD Million)

4.3.1    Market Size & Forecast, 2020-2030, (USD Million)

4.4.1    Market Size & Forecast, 2020-2030, (USD Million)

5.1.1    Market Size & Forecast, 2020-2030, (USD Million)

5.2.1    Market Size & Forecast, 2020-2030, (USD Million)

5.3.1    Market Size & Forecast, 2020-2030, (USD Million)

5.4.1    Market Size & Forecast, 2020-2030, (USD Million)

5.5.1    Market Size & Forecast, 2020-2030, (USD Million)

5.6.1    Market Size & Forecast, 2020-2030, (USD Million)

6.1.1    Market Size & Forecast, 2020-2030, (USD Million)

6.2.1    Market Size & Forecast, 2020-2030, (USD Million)

6.3.1    Market Size & Forecast, 2020-2030, (USD Million)

6.4.1    Market Size & Forecast, 2020-2030, (USD Million)

7.1.1    Market Size & Forecast, 2020-2030, (USD Million)

7.2.1    Market Size & Forecast, 2020-2030, (USD Million)

7.3.1    Market Size & Forecast, 2020-2030, (USD Million)

7.4.1    Market Size & Forecast, 2020-2030, (USD Million)

7.5.1    Market Size & Forecast, 2020-2030, (USD Million)

7.6.1    Market Size & Forecast, 2020-2030, (USD Million)

7.7.1    Market Size & Forecast, 2020-2030, (USD Million)

7.8.1    Market Size & Forecast, 2020-2030, (USD Million)

7.9.1    Market Size & Forecast, 2020-2030, (USD Million)

7.10.1  Market Size & Forecast, 2020-2030, (USD Million)

6.1.1    Market Size & Forecast, 2020-2030, (USD Million)

8.2.1 Market Size & Forecast, 2020-2030, (USD Million)

8.3.1    Market Size & Forecast, 2020-2030, (USD Million)

8.4.1    Market Size & Forecast, 2020-2030, (USD Million)

8.5.1    Market Size & Forecast, 2020-2030, (USD Million)

8.6.1    Market Size & Forecast, 2020-2030, (USD Million)

9.9       RIEGL Laser Measurement Systems GmbH

9.11     Beijing SureStar Technology Co. Ltd.

Table of Content and Figure @ https://straitsresearch.com/report/lidar-market/toc 

Waymo To Sell LIDAR Sensors To Cut Down Cost Of Self Driving Cars

Solid-State LiDAR Technology Are Gaining Traction to Complement Autonomous Vehicles & Sensor Fusion

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