The Asia Pacific LiDAR Market would witness market growth of 19.0% CAGR during the forecast period (2022-2028).
LiDAR-based digital terrain models' improved spatial resolution enables them to be more accurate in applications, including inland waterways, change detection on hillsides, and water runoff for mining and agricultural areas. In addition, the market is expected to develop due to LiDAR being increasingly automated to save labor and boost productivity. In the coming years, the market is expected to rise due to the increased demand for 3D images in sectors such as military & defense, topographical surveys, corridor mapping, and civil engineering.
LiDAR sensors have seen significant growth in implementation in the automobile sector due to their remarkable accuracy in autonomous driving technology. Installing cutting-edge safety features is expanding tremendously. Also, self-driving cars and GPS and LiDAR navigation applications are allowed on public roads in industrialized nations. In the upcoming years, it is expected that growing investments in the advancement of autonomous driving innovations will accelerate the deployment of LiDAR sensors and scanners across various automotive applications.
Increased use of airborne LiDAR systems to detect and explore locations and historic details is one of the factors supporting the market's expansion. Combining scientific algorithm computing with cloud-based processing of collected data points for in-depth analysis constitutes the automation of the LiDAR processing system. As a result, the methods improve the precision and effectiveness of target object detection in LiDAR systems.
Japan has been an early adopter of LiDAR technology in the Asia Pacific region because they understood its advantages, such as superior point elevation precision and a much lower reliance on ideal weather conditions than passive optical sensors. Australia swiftly adopted airborne LiDAR technology after Japan. Additionally, relative to projects, the scale, and diversity of LiDAR projects in Australia are frequently very enormous owing to the vast geographic area of the country. Throughout the projection period, it is anticipated that the region's governments will increasingly employ LiDAR systems, which will help the market grow.
The China market dominated the Asia Pacific LiDAR Market by Country in 2021; thereby, achieving a market value of $256 million by 2028. The Japan market is registering a CAGR of 18.3% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 19.7% during (2022 - 2028).
Based on Type, the market is segmented into Mechanical and Solid-state. Based on Range, the market is segmented into Short Range, Medium Range and Long Range. Based on Service, the market is segmented into Ground-based surveying, GIS Service, Asset Management, Aerial Surveying and Others. Based on Component, the market is segmented into Laser Scanner, Navigation & Positioning System and Others. Based on Installation Type, the market is segmented into Ground-based and Airborne. Based on Application, the market is segmented into Environment, Exploration, Meteorology, Corridor Mapping, Engineering, Urban Planning, ADAS & Driverless Cars and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide LiDAR Market is Projected to reach USD 3.5 Billion by 2028, at a CAGR of 18.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sick AG, FARO Technologies, Inc., Teledyne Optech, Inc., Trimble, Inc., Hexagon AB (Leica Geosystems AG), NV5 Global, Inc., YellowScans, SureStar, GeoDigital and RIEGL Laser Measurement Systems GmbH.
By Type
By Range
By Service
By Component
By Installation Type
By Application
By Country
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