The Latin America, Middle East and Africa LiDAR Market would witness market growth of 22.3% CAGR during the forecast period (2022-2028).
Future process automation and highly automated, completely automated, and autonomous driving will rely heavily on LiDAR sensors. They assess the environment, aid in direction, detect obstructions, and measure distances with radar sensors and cameras to increase efficiency and safety on congested highways and in automated industrial settings.
The automated guided vehicles (AGV) industry has been expanding due to rising laser-guided AGV manufacturing and falling labor costs. AGV is a workable material handling system that considerably reduces transportation damage and provides accessibility in logistics facilities and high-volume storage. AGVs utilize cutting-edge technologies like laser and telematics services and infrared, magnetic, and optical navigation. Since it improves the precision of tracking position, wireless communication is also getting a lot of traction. As a result, it has emerged as a crucial trend in the AGV industry.
Additionally, the implementation of Industry 4.0 technology has improved warehouse system coordination, assisted active communication between various warehouse activities, and helped warehouse operators perform time-sensitive and high-velocity tasks at a lower cost. This, in turn, is accelerating the AGV industry's expansion, and hence benefits the LiDAR market.
The necessity of infrastructure for growth in the economy is stressed by the Argentinean government as well. The government is planning to invest in the construction of new homes, roads, regional airport upgrades, and the restoration of the Belgrano cargo train line, which connects to Chilean ports on the Pacific. Developing a metro line that connects all forms of public transit in Buenos Aires is another way the administration intends to enhance transportation. This further propels the need for immediate construction of infrastructure. Therefore, the regional LiDAR market's growth is driven by all these factors.
The Brazil market dominated the LAMEA LiDAR Market by Country in 2021; thereby, achieving a market value of $57.1 million by 2028. The Argentina market is showcasing a CAGR of 22.9% during (2022 - 2028). Additionally, The UAE market would register a CAGR of 22% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global LiDAR Market is Predict to reach $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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