LiDAR Market Size to Reach $2,019 Million By 2026 | CAGR 18.4%

New York City, 28 March 2019: The LiDAR Market is anticipated to reach over USD 2,019 million by 2026 according to a new research published by Polaris Market Research. In 2017, the corridor mapping application segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue in 2017.

The growing need for 3D imaging from various sectors, and increasing adoption of aerial LiDAR systems have boosted the adoption of LiDAR solutions. Increasing government investments in defense, agriculture, and city planning boosts the adoption of LiDAR. Additionally, the increasing demand of LiDAR from mining and transportation industries has supported market growth over the years. Increasing investments by vendors in technological advancements coupled with increasing development of autonomous vehicles and integration of advanced safety systems in vehicles would accelerate the growth of the LiDAR market. Growing demand from emerging economies, and technological advancements are expected to provide numerous growth opportunities in the coming years.

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The Global Lidar Market is segmented on the basis of component, installation, range, application, and geography. Based on the component, the market is segmented into Navigation and Positioning Systems, Laser Scanners, Cameras, and others. Laser Scanners accounted for the highest share in the global LiDAR market in 2017. The installation segment is categorized into ground-based, and airborne. The ground-based LiDAR systems dominated the global market in 2017. Lower costs associated with ground-based LiDAR systems coupled with lesser stringent regulations drive the growth of this segment. The range in the global LiDAR market include Short Range LiDAR, Medium Range LiDAR, and Large Range LiDAR. The applications included in the report are Urban Planning, ADAS & Driverless Cars, Corridor Mapping, Environment, Engineering, Exploration, and others.

North America generated the highest revenue in the LiDAR market in 2017, and is expected to lead the global market throughout the forecast period. The growth of industrial automation and technological advancements in metrological applications have accelerated the adoption rate of LiDAR technology in North American region. In airborne applications, LiDAR technology has exhibited exceptional advantages over RADAR technology such as improved accuracy, real-time mapping ability and better visualization, thereby driving the LiDAR market across all the countries in North American region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period owing to growing demand from emerging countries such as China, Japan, and India.

The leading companies profiled in the LiDAR market report include Trimble Navigation Limited, Faro Technologies, Inc., Quantum Spatial, Inc., Velodyne LiDAR, Inc., Sick AG, Teledyne Optech, Riegl Laser Measurement Systems, Leica Geosystems Inc., GeoDigital, and Beijing Surestar Technology. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Read More: https://www.polarismarketresearch.com/industry-analysis/LiDAR-Market

Automotive LiDAR Market : Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis

New York City, 22 January 2019: The Report "Automotive LiDAR Market, [By Type (Solid-State LiDAR, Mechanical LiDAR); By Application (Advanced Driver Assistance Systems – (AEB and ACC), Autonomous Vehicle); By Region]: Market Size & Forecast, 2018 – 2026"The global Automotive LiDAR Market is anticipated to reach USD 4,135.2 million by 2026 according to a new study published by Polaris Market Research. 

The growing adoption of ADAS and investment in the dynamic development of autonomous vehicle by leading companies such as Uber, Google, and Apple, have had a positive impact on the global Automotive LiDAR market. There are several advantages of integrating LiDAR in ADAS system such as it supports different environmental conditions, can work better range up varying from 10 cm to 100 m and also records 30 times quicker than regular camera video, such factors have highly propelled Automotive LiDAR market worldwide. Although, high cost and substitute technology are some of the factors that could affect the growth of the market. However, these factors are expected to have minimal impact on the Automotive LiDAR Market attributed to the decreasing price in near future with rise in volume.

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 LiDAR has become an essential feature of self-driving cars, and therefore several advancements are taking place in the Automotive LiDAR Market to offer better product and service to end-user in coming years. Different market leaders are coming up with innovative technologies to grow and maintain their market position for instance in 2016, LeddarTech launched a modular Vu8 LiDAR sensor at a price of USD 475. Besides this, several other merger and acquisition are occurring in market such as in February, 2016, ZF acquired 40% share of Ibeo, this acquisition will help ZF to take the succeeding technological leap and a significant step forward in autonomous vehicle market. Such trends are further anticipated to bolster the market growth during the forecast period.

Currently, North America dominates the Automotive LiDAR market attributed to the technological advancements and early adopter of ADAS, existence of prominent Automotive LiDAR providers in the region, and robust technical adoption base. Also, the region is expected to continue its dominance during the forecast period. Moreover, the emerging application of autonomous vehicle technology in commercial cars services in key economies, such as the U.S. and Canada, is considerably adding to the market growth in the North American region. The markets in Asia Pacific, and European region are expected to notice a high growth during the coming years. The growth in Asia Pacific region is attributed to the increasing demand for autonomous car in the developing economies.

Major companies profiled in the Automotive LiDAR Market report include Scans LLC, Velodyne LIDAR, Inc., Quanergy Systems, Inc., LeddarTech, First Sensor AG, Novariant (AgJunction), Delphi Technologies, Continental AG, Robert Bosch GmbH, and Denso Corporation among others.

The high penetration of autonomous vehicle and rise in ADAS technology across globe is projected to boost the growth of the Automotive LiDAR Market over the forecast period. Several companies are going through technology partnership with IT giant to integrate Automotive LiDAR competences into their portfolio of products. For instance, recently in January 2018, OPTIS and LeddarTech collaborated together to bring the industrial replication of LiDAR based solutions for the booming autonomous vehicle industry.

Read More: https://www.polarismarketresearch.com/industry-analysis/automotive-lidar-market/