New York, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The global LiDAR market size is slated to expand at ~24.6% CAGR between 2023 and 2035. The market is poised to garner a revenue of USD 30.8 billion by the end of 2035, up from a revenue of ~USD 1.8 billion in the year 2022.One of the primary reasons driving market growth is the growing awareness about forest degradation and the growing need to save it. The Member States of the United Nations Forum on Forests (UNFF) established the United Nations Strategic Plan for Forests 2017-2030 (UNSPF) to provide a global framework that will direct action at all levels to successfully oversee all types of trees and woodlands other than forests.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-5264
as well as to prevent tree cutting and forest degradation. The aims, targets, and pledges of the UNSPF are consistent with the 2030 Agenda for 17 Sustainable Development aims (SDGs), which give universally approved and largely accepted guidelines for attaining a more ecologically friendly society.
Growing Use of Geographic Information Systems is to Boost the Growth of the LiDAR Market
Around 37% of 10,000 surveyed people 18 to 29 indicated are using GPS navigation in their cell phones in June 2023. The survey was conducted in 2023. GPS tracking devices are becoming increasingly popular as commercial vehicle sales rise. Such gadgets are used for real-time vehicle tracking and management. The owners or businesses make good use of their resources, allowing them to assure vehicle safety. A GPS monitoring device is capable of identifying automobiles that utilize GPS to monitor their location as the retail sector grows. This increases the importance of monitoring for effective functioning and safety. As a result, several commercial trucks are outfitted with global positioning system (GPS) tracking systems.
LiDAR Market: Regional Overview
The global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Dependency on the GPS Technology is to Boost the Growth of the Market in the North America Region
GPS, a government-provided free service, is critical to the American economy. Vehicle navigation systems, aviation in general, money transfers, the electrical grid, precision agriculture, surveying, and construction all rely on it. Over 900 million GPS receivers are used in the United States. Considering the importance of GPS, there are 3 laws that are proposed in the National Timing Resilience and Security Act of 2018. The Act mandated the Secretary to implement a backup system for the GPS by the end of 2020. It is in charge of civilian GPS, which serves as a supplement and alternative to the service. Americans would have an option if the satellites were removed with such a system in place.
Make an Inquiry Before Buying this Report @ https://www.researchnester.com/inquiries-before-buying-5264
Growing Development of LiDAR-based Military Equipment is to Elevate Market Growth in Europe
Russia has created its anti-drone laser equipment, which is currently in use in Ukraine. Russia is constructing a massive laser-based anti-satellite weapon in Zelenchukskaya in the country's southwest. The station was planned many years ago, but Google Earth photos suggest that building has only lately begun at an existing Russian Ministry of Defence space monitoring site. Furthermore, Russia tested an anti-satellite missile in November 2021 to display its capacity to knock down spy satellites at any time. Furthermore, the development of automobile technology is also expected to drive LiDAR market growth. Yandex, a Russian Corporation that focuses on internet-related products and transportation services, is entering the lidar sensor market. Yandex claimed that its self-driving cars had traveled over 1.5 million miles in total, up from 1 million in October. Yandex also highlighted two bespoke software-defined lidar sensors that it claims to have been testing on vehicles in Moscow. Yandex hopes to deploy them on its recently unveiled delivery robot in the future.
LiDAR, Segmentation by Technology
- 2D LiDAR
- 3D LiDAR
- 4D LiDAR
LiDAR, Segmentation by Product
- Airborne LiDAR
- Terrain Air LiDAR
- Bathymetric Air LiDAR
- Ground-Based LiDAR
- Mobile Ground-Based LiDAR
- Still Image Ground LiDAR
- UAV LiDAR
- Solid State LiDAR
Based on the product, the air-borne LiDAR segment in LiDAR Market is expected to garner the maximum share of the market. The growth of the segment is attributed to the growing investment in the management of hazard-stressed areas. For instance, annual expenses associated with extreme precipitation/floods and other disasters in the UK, estimated at USD 61 million in 2010, and it is expected to rise to USD 611 million by the 2040s. Future expenses for flood-protected bridges in the European Union have been estimated at more than USD 535 million per year. Moreover, the key transport networks are depicted on digital maps created for the UNECE region, which are overlain with the spatial distribution of climate change projections. This provides an initial perspective of prospective risk locations that may deserve additional in-depth examination, providing a tool to assist prioritize adaptation activities.
LiDAR, Segmentation by Application
- Corridor Mapping
- Roads
- Rails
- Pipelines
- Engineering
- Environment
- Forest Management
- Coastline Management
- Pollution Models Chemicals
- Agriculture
- Wind Farm
- Precision Forestry
- ADA and Unmanned Vehicles
- Exploration
- Oil and Gas
- Mining
- Urban Planning
- Maps Production
- Meteorology
On the basis of application, the corridor mapping segment in LiDAR market is expected to gain the highest market revenue over the forecasted period. Since there is a higher development of road, energy, oil & gas, and power infrastructures, that positively impacts the demand for corridor mapping. For instance, the expanding network of power transmission and distribution will require the frequent corridor mapping. Power transmission lines, which transfer electricity with high voltage from power plants across vast distances, are almost 7 million km long worldwide. They are linked to shorter, lower voltage distribution cables that transmit electricity to clients. These comprise more than 72 million km.
Request for Customization of this Report @ https://www.researchnester.com/customized-reports-5264
A few of the well-known market leaders in the global LiDAR market that are profiled by Research Nester are Faro Technologies, Inc., Leica Geosystem Holdings AG, Teledyne Optech Incorporated, Trimble Navigation Limited, RIEGL USA, Inc., Quantum Spatial, Inc., Velodyne LiDAR, Inc., Sick AG, YellowScan, and GeoDigital.
Recent Developments in the LiDAR Market
- Velodyne Lidar, Inc. signed a multi-year deal with GreenValley International to supply lidar sensors for portable, mobile, and UAV (unmanned aerial vehicle) 3D mapping solutions, particularly in GPS-denied environments. As part of this deal, Velodyne has already begun supplying sensors to GreenValley. GreenValley employs Velodyne's Puck lidar sensors to provide perception and navigation capabilities that allow their mobile mapping solutions to use SLAM (simultaneous localization and mapping).
- Leica Geosystems, a Hexagon company, offers the Leica CountryMapper, a hybrid sensor that provides the most efficient option for large-area imaging and LiDAR mapping. The CountryMapper collects foundational geospatial data while integrating a large-format photogrammetric camera and a high-performance LiDAR unit into a single system, allowing the development of highly accurate data products to serve a wide range of customer applications.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
