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Rapid Transition of Railway Systems towards Automation Fuelling Radar & LiDAR Technology Market Demand: Future Market Insights StudyDUBAI, UAE, May 31, 2021 /PRNewswire/ -- The global Radar & LiDAR technology for railways application market is expected to grow at 9.6% CAGR between 2021 and 2031, projects ESOMAR-certified consulting firm Future Market Insights (FMI). Radar & LiDAR technology is gaining traction in railway and transportation sector as a part of train protection and collision prevention system. Increasing demand for radar and LiDAR sensors in smart railway systems will inflate the market growth. Recent developments in technology used to control train traffic, track train routing and scheduling, and detect on-track pedestrian will support the radar & LiDAR technology for railways application growth. Increasing government investment towards designing autonomous railway system especially in emerging economies and surge in demand for radar sensors will emerge as market drivers. Some of the leading companies are launching advanced LiDAR systems to offer higher resolution and improved accuracy. These attributes are considered extremely critical for tracking railway speed. Mobile LiDAR equipments are capable of high speed mapping of rail corridors with rate of 1.1 Mn per second. This equipment is installed on a vehicle or train locomotive. As the vehicle moves the LiDAR perfectly maps the tracks and surrounding area. Incorporation of mobile LiDAR equipment in railways infrastructure project planning and development, along with construction, operations, maintenance, safety, and asset management will accelerate the market growth. "Companies operating in the market are launching advanced solutions to improve rail collision prevention mechanism. Their efforts will elevate the market demand," says the FMI analyst For more Insights into the Market, Request a Sample of this Report https://www.futuremarketinsights.com/reports/sample/rep-gb-13225 Key Takeaways
Competitive Landscape According to the study by Future Market Insights, market leaders are employing various inorganic and organic marketing strategies to deepen their market penetration into emerging markets. Growth strategies include new product development and product launches to strengthen their market position. They are also participating in strategic merger and acquisition to strengthen their footprint. For instance,
Get Customization on this Report for Specific Country https://www.futuremarketinsights.com/customization-available/rep-gb-13225 More Insights on the Global Radar & LiDAR technology for railways application Market Future Market Insights, in its new offering, provides an unbiased analysis of the radar & LiDAR technology for railways application market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the radar & LiDAR technology for railways application market with a detailed segmentation on the basis of various parameters. These include:
Application
Region
Key Questions Covered in the Report
For any Queries Linked with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-13225 Explore FMI's Extensive Coverage on the Technology Domain Radar Market: ESOMAR-certified market analysis and consulting company Future Market Insights (FMI) provides insights driving radar market demand in latest report. Additionally, to find the effect of COVID-19 on the radar market in general, the study monitors global radar sales in 20+ high-growth markets and address their end-user in particular. Radar Security Market: In its latest study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers in-depth insights on key factors that influence the demand for radar security. The report covers global demand for radar security in more than 20 high potential markets, in addition to an in-depth analysis of the impact of COVID-19 on the global radar security. X-band radar Market: The X-band radar market study by Future Market Insights (FMI) provides deeper insights on the new trends while incorporating the impact of ongoing trends, and growth & restraining factors during the forecast period of 2021 to 2031. Market dynamics have been presented on the basis of prominent drivers, trends and opportunities prevailing across key geographies for the aforementioned decade. About Future Market Insights (FMI) Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers. Contact: Logo: https://mma.prnewswire.com/media/1197648/FMI_Logo.jpg |