LiDAR Sensor Market by Type (Airborne, Terrestrial), by Technology (Solid State, Mechanical LiDAR), by Application (Vehicle Automation, Infrastructure Building, Meteorology), by End-use Industry, and by Region – Global Insights till 2032
The global LiDAR sensor market will exceed a value of $1.908 billion by 2022 , and is expected to reach $6.3287 billion by the end of 2032 . Global sensor market at the end of 2021.
During the historical period 2017-2021, the global LiDAR sensor market registered a CAGR of 6.3% , and according to market research and competitive intelligence provider Fact.MR, the market is expected to grow at a CAGR of 12.7% between 2022 and 2022. expected. 2032.
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What is Driving the Demand for LiDAR Sensors?
Light Detection and Ranging (LiDAR) sensors are gaining popularity due to their ability to measure distance and create high-resolution 3D maps of the surroundings. Demand for LiDAR sensors is being driven by growing demand for autonomous vehicles, robotics, and drones. LiDAR sensors give these machines the ability to “see” and accurately perceive their surroundings, which is critical to their safe and effective operation. The automotive industry, in particular, is a major driver of demand for LiDAR sensors as autonomous vehicles require an array of sensors, including LiDAR, to operate safely on the road. LiDAR sensors are also used in urban planning, land surveying, and environmental monitoring applications, further driving the demand for the technology.
Another factor driving the demand for LiDAR sensors is the decreasing cost of technology. Historically, LiDAR sensors were expensive and accessible only to a limited number of applications such as military and aerospace. However, advances in technology and manufacturing processes have significantly reduced the cost of LiDAR sensors, making them more accessible to a wider range of industries. This has led to increased adoption and experimentation of LiDAR technology as companies and researchers explore new use cases and applications. As LiDAR technology continues to become cheaper and more accessible, the demand for LiDAR sensors is expected to continue to grow in various industries.
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competitive landscape
Prominent manufacturers in the global LiDAR sensor industry, including Trimble Inc., Topcon, SICK AG, Velodyne Lidar and FARO, emphasize the launch of technologically advanced products and capture marketing strategies such as acquisitions and collaborations with other market players to make improvements. We are helping. Improve your production capacity, market penetration and gain a larger market share.
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LiDAR Sensor Industry Research Segmentation
Key Questions Addressed in the LiDAR Sensors Market Report
Regional Analysis For LiDAR Sensor Market:
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Jun 30, 2023