LiDAR Market 2021 Competitive Analysis and Global Developments- Sick AG, Teledyne Optech, Velodyne LiDAR, Quanergy Systems Inc., Quantum Spatial Inc., 3D Laser Mapping Ltd, Faro Technology Inc., Leica Geoystems

The LiDAR Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The lidar market was valued at USD 2.25 billion in 2019, and it is expected to reach a value of USD 4.61 billion by 2025 at a CAGR of 12.76%, during the forecast period (2020- 2025).

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Competitive Landscape:

Top Companies: Sick AG, Teledyne Optech, Velodyne LiDAR, Quanergy Systems Inc., Quantum Spatial Inc., 3D Laser Mapping Ltd, Faro Technology Inc., Leica Geoystems AG, RIEGL Laser Measurement Systems GmbH, Topcon Positioning Systems Inc., Trimble Navigation Ltd, Denso Corporation, Innoviz Technologies Ltd, Neptec Technologies Corp., Phantom Intelligence Inc.

Scope of the Report

LIDAR, which stands for light detection and ranging, is a remote sensing method that uses light in the form of a pulsed laser to measure ranges (variable distances) to the Earth. Advancements in laser scanning, GPS, and bandwidth have allowed for new lidar applications, such as mobile lidar known for mobile laser scanning (MLS), which is used for mapping, engineering, and self-driving applications.

Industry News and Updates:

- December 2018 - Velodyne added Nikon Corporation as a strategic investor for a multifaceted business alliance. This gave an advance timeline for manufacturing and mass production of lidar for the autonomous and advanced safety global market.
- August 2018 - Sick AG launched a new range of high-precision light detection and ranging sensors. With the launch of the LMS1000 and MRS1000 infrared LiDAR sensors, the company has raised the bar in high-precision and reliable distance sensing and ranging.

Key Market Trends:

North America is Expected to Hold a Major Share in the Market
- North America is dominating the lidar market, owing to the rising demand for 3D imaging technology in the US and Canada. Additionally, the increased adoption of lidar in government agencies is further expected to fuel the market growth.
- The increasing investments of business giants in North America, such as General Motors, Google Inc., and Apple Inc., toward ADAS and driverless cars are providing new opportunities for small, versatile, and low-cost lidar systems.
- In addition, major companies in the market, such as Trimble, Faro, and Velodyne are based in the United States, which is another major factor for the large share of the North American market.
- Furthermore, the US defense industry has increased its military and defense spending, which has created opportunities for lidar to proliferate into the industry. Key players profiled include Quantum Spatial (Aerometric), Faro Technology, Geodigital, Trimble Navigation Limited, Leica Geosystems, etc.

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What are the market influences that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global LiDAR Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

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