LiDAR Market Report – Recent Advancements, Product Expansion, Competitors Analysis, and Size Forecast 2021-2027

Light detection and ranging (LiDAR) systems enable easier examination, detection, and mapping of objects in comparison to the conventional techniques. These systems are increasingly employed over conventional survey methods as they provide accurate data and 3D images at a faster rate. LiDAR systems have replaced conventional surveying methods and statistical analysis due to the in-depth analysis requirement in different application areas.

The widespread awareness about the advantages of LiDAR in different industry verticals is a major factor that drives the Asia-Pacific LiDAR market. Countries, such as China, Japan and South Korea amongst others, are using LiDAR technology in civil engineering and forestry applications. Furthermore, Government initiatives have a positive impact on the adoption of the LiDAR technology in different application areas. This further supplements the growth and creates opportunities for the players to enhance their market reach.

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Strategies such as product launch, acquisitions, joint ventures, and partnerships are expected to help the market players set a common technology platform and share the technological requirements, which in turn, would enhance their product portfolio and increase their market share across Asia-Pacific. Cost cutting in operations is expected to assist the manufacturers to invest into advertisement and increase awareness about LiDAR systems across diverse industry verticals.

In addition, increased use of LiDAR systems across various industries supported by favorable government initiatives, is expected to fuel the growth of the Asia-Pacific LiDAR market. For instance, in February 2015, the Indian road ministry announced the mandatory use of LiDAR system to conduct a feasibility check for all the highway projects in India.

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The Asia-Pacific LiDAR market is segmented based on the type, component, application, end user, and country. Static or terrestrial, aerial, mobile, and short range are the various types of LiDAR systems. The components of LiDAR systems include laser scanner, inertial navigation system, camera, GPS/GNSS receiver, and microelectromechanical system.

Based on application, the market is segmented into corridor mapping, seismology, exploration & detection, and others. The end user segment includes industries such as defense & aerospace, civil engineering, archaeology, forestry & agriculture, mining industry, and transportation. Geographically, the market is divided into China, Japan, India, South Korea, and rest of Asia-Pacific.

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POTENTIAL BENEFITS FOR STAKEHOLDERS:

The study highlights the Asia-Pacific LiDAR market with current trends and estimates the adoption of this technology across varied industry verticals to analyze the prominent investment pockets.
Microscopic analysis of segments is conducted to gauge the potential of the market and highlight the favorable conditions for its growth.
Porters five force’s model helps analyze the potential of buyers & suppliers, with a competitive outlook, which assists key players in decision-making.
Value chain analysis provides a clear view of key intermediaries involved and elaborates their roles and value addition at every stage.

According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.

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This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).

KEY PLAYERS

Airborne Hydrography AB
Faro Technologies Inc.
Leica Geosystems Inc. (Hexagon)
3D Laser Mapping Inc.
RIEGL Laser Measurement Systems GmbH
Aerometric Inc.
Optech Inc. (Teledyne Technologies)
Quanergy Systems, Inc.
Raymetrics S.A.
Saab Group

MARKET SEGMENTATION

The market is segmented on the basis of type, component, application, end user and country as follows:

BY PRODUCT TYPE

Terrestrial/Static
Aerial
Mobile
Short Range

BY COMPONENT

Laser
Inertial Navigation System
Camera
GPS/GNSS Receiver
Microelectromechanical System (MEMS)

BY APPLICATION

Corridor Mapping
Seismology
Exploration & Detection
Others

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BY END USER

Aerospace & Defense
Civil Engineering
Archaeology
Forestry & Agriculture
Mining
Transportation

BY COUNTRY

China
India
Japan
South Korea
Rest of Asia-Pacific

What is the goal of the report?

The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.

During the forecast period, the report analyzes the growth rate, market size, and market valuation.

The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.

The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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This market report shows the projected market size for the Multi-Cloud Management Market at the end of the forecast period. The report also examines the historical and current market sizes.

On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.

The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.

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The research report includes various factors contributing to the market’s growth.

The report analyzes the growth rate, market size, and market valuation for the forecast period.

This report covers aspects of the regional analysis market.

The report includes data about North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

This report analyzes current and future market trends by region, providing information on product usage and consumption.

Reports on the market include the growth rate of every region, based on their countries over the forecast period.

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This report provides comprehensive information on factors expected to influence the market growth and market share in the future.

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Combined with Porter’s Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.

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