Portland, OR, May 10, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global lidar sensor for environmental market generated $249.3 million in 2019, and is estimated to reach $653.8 million by 2027, growing at a CAGR of 15.1% from 2020 to 2027.
Automated processing in lidar systems, rise in demand for 3D imaging, increase in need for aerial lidar, and improved performance of lidar systems than other technologies have boosted the growth of the global lidar sensor for environmental market. However, lack of awareness hinders the market growth. On the contrary, rise in need for lidar-captured data in newer applications and advent of 4D lidar are expected to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- Due to the pandemic, the production facilities of electronics and semiconductors were halted and the prolonged lockdown hampered the market growth.
- The outbreak of Covid-19 resulted in a significant drop in manufacturing and an international travel ban kept workers out of their factories.
- However, the negative impact of the Covid-19 pandemic is expected to remain for a short period as the market would observe a robust recovery rate with a rise in demand for the installation of lidar sensors.
The global lidar sensor for environmental market is segmented on the basis of technology, installation type, service, application, and region.
Based on technology, the 2D lidar segment held the largest share in 2019, contributing to more than two-thirds of the market. However, the 3D lidar segment is estimated to register the highest CAGR of 16.2% during the forecast period.
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On the basis of application, the agriculture segment dominated the market in 2019, accounting for more than one-fourth of the market. However, the forest management segment is anticipated to manifest the highest CAGR of 16.4% during the forecast period.
The global lidar sensor for environmental market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2019, contributing to nearly two-fifths of the market. However, the Asia-Pacific is estimated to register the highest CAGR of 17.2% during the forecast period.
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The global lidar sensor for environmental market report includes an in-depth analysis of the prime market players such as Geodetics, Faro Technologies Inc., MeaTech (Measurement Technologies) Solutions LLP, Leica Geosystems AG, RIEGL, Sick AG, Mitsubishi Electric Corporation, Trimble Inc., Topcon Positioning Group, and Vaisala.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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