LiDAR services Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the LiDAR services market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. LiDAR services Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the LiDAR services Market forecast.
The LiDAR services Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The LiDAR services market is projected to reach USD 2.6 billion by 2025 and projected to register 14.5% CAGR over the forecast period, from 2019 to 2025 according to Million Insights. LiDAR services find several application in automotive industry. In addition, government favorable policies for advanced driver-assistance systems (ADAS) and self-driving vehicles is fueling the market growth.
The rising usage of LiDAR systems in automated vehicles is the major factor to drive the growth of this market. In addition, significant growth of automobile products in developed and developing regions along with rising demand for high-tech electronic safety systems in vehicles is projected to propel the market growth in the next few years.
The stringent government norms for carbon emission is fueling the demand for next-generation technologies like advanced driving systems. Furthermore, LiDAR also used logistic, surveillance, and security in industrial automation. The growing usage of sensors in industrial automation and automotive industries is expected to propel the growth of LiDAR services market in the next six years.
The major factor is responsible for market growth is increasing 3D imaging technology. This technology is widely used in medical imaging devices, 3D X-ray imaging device, and robotic vision system. Thus, implementation of LiDAR system in 3D imaging is expected to boost the demand in healthcare industry.
In 2018, North America held the largest market share followed by Europe and Asia Pacific. Asia Pacific is projected to have strong growth during the forecast period due to rising awareness about benefits of this technology in industrial automation and automotive industry. Increasing demand for these services in several countries such as Japan, South Korea and China has led to rise in adoption of ADAS in automated cars.
Some of the companies for LiDAR Services market are:
GeoDigital; Kucera International; Harris Geospatial Solutions, Inc.; Quantum Spatial; Surdex Corporation; Fugro; Quanergy Systems, Inc. and Hexagon
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