Global LiDAR Market, Size, Share, Market Intelligence, Company Profiles, Market Trends, Strategy, Analysis, Forecast 2018-2023
INDORE, INDIA, October 16, 2018 /EINPresswire.com/ — According to the OMR analysis, the global LiDAR market is growing at a significant rate during 2018-2023. The global LiDAR market has witnessed a significant growth due to better accuracy than other technologies and wide range of applications. The global LiDAR market is segmented on the basis of technology, product type, applications, consumers and geography. The report provides detailed and insightful chapters on market overview, key findings, strategic recommendations, market estimations,market determinants, key company analysis, market insights, company profiling, market segmentation, geographical analysis and analyst insights.
Full report of global LiDAR market is available at https://www.omrglobal.com/industry-reports/global-lidar-market/
LiDAR stands for Light Detection and Ranging, is a surveying method It is generally used for measurement of target by illuminating it by pulse laser light. High resolution DEMs (Digital Elevation Models) is increasing all across the globe. LiDAR (Light Detection and Ranging), is a relatively new technology, and offers advantages over traditional methods for representing a terrain surface. The other methods of topographic data collection are land surveying, GPS, interferometry, and photogrammetry. LiDAR technology has some advantages in comparison to these methods such as higher accuracy, fast acquisition and processing, canopy penetration and so on. The high vertical accuracy LiDAR allows it to represent the earth surface with high accuracy.
Higher accuracy than alternatives, wide range of application, higher data density are likely to act as high impact rendering drivers for the global LiDAR market. The automotive segment experiences one of the highest innovations across the globe. A number of companies have the concept to turn the vehicle (car) into a robot with better convenience improved safety. Automobile OEM are making the cars more intelligent by using LiDAR technology into a specialized sensor suite within autonomous vehicles, which is likely to act as a driver for LiDAR market in near future. The global LiDAR market is geographically segregated into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). North America dominates the global LiDAR market in terms of revenue and expected to show highest growth rate across the globe. The main factor of dominance is well established infrastructure, center of technologically advanced firms like Silicon Valley, various space programs and driverless car programs by Google and Uber. The companies such as Google, UBER, and Audi, Apple and so on. are investing considerably in the LiDAR technology and the big firms such as Bosch GmbH will also enter in the LiDAR technology by 2020, which is expected to grow the market in the US. In APAC, most of the countries are emerging nation and are not technological advance as compare to US and Europe however economies such as Japan, India & China are expected to show a market once the technology will be completely developed. Government will play a significant role in LiDAR market. In July, 2017, the government of India has stated that they will not allow the driverless cars in the country as it will increase unemployment in the country. It will impact the driverless car program of major companies in the Asia-Pacific region. The cost of LiDAR system in cars will cost equal to another car (more than $100,000) which will be quite costly for the customers of China and India.
The report covers:
Comprehensive research methodology of Global LiDAR Market.
This report also includes detailed and extensive market overview with key analyst insights.
Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the LiDAR Market.
Insights about market determinants which are stimulating the LiDAR Market.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.
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Global LiDAR Market Research By OMR
Source: EIN Presswire