Airborne LiDAR Market |FARO Technologies Inc., GeoSLAM Ltd., Hexagon AB, among others to Contribute to the Market growth
NEW YORK, Sept. 15, 2021 /PRNewswire/ -- The LiDAR market is set to grow by $ 1.57 bn, progressing at a CAGR of over 15.20% during 2021-2025. The LiDAR market vendors should focus on grabbing business opportunities from the airborne LiDAR segment as it accounted for the largest market share in the base year. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Factors such as expanding application areas of LiDAR technology, and growing demand for LiDAR solutions from wind powerplants will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The LiDAR market is fragmented, and the degree of fragmentation will accelerate during the forecast period.
LiDAR Market 2021-2025: Segmentation
LiDAR Market is segmented as below:
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LiDAR Market 2021-2025: Vendor Analysis and Scope
Some of the major vendors of the LiDAR market in the Electronic Equipment & Instruments industry include FARO Technologies Inc., GeoSLAM Ltd., Hexagon AB, LeddarTech Inc., Quanergy Systems Inc., Robert Bosch GmbH, SICK AG, Teledyne Technologies Inc., Trimble Inc., and Velodyne Lidar Inc. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 25 vendors operating in the market.
The report also covers the following areas:
Market trend such as increased adoption of LiDAR in automotive applications is likely to emerge as one of the primary drivers of the market. However, factors such as the high cost of LiDAR sensors may threaten the growth of the market.
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LiDAR Market 2021-2025: Key Highlights
Table of Contents:
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Application
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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