3D LiDAR Sensor Market Expected to Reach $2.30 Billion By 2030 at a CAGR of 14.5% | Business Growth Opportunities - 2035

3D LiDAR Sensor Market

Rising demand for 3D imaging, falling prices of drones, and rapid development in autonomous vehicle technology drives the 3D LiDAR sensor market growth”

— Vivek Karmalkar

PORTLAND, OREGON, UNITED STATES, February 1, 2022 /EINPresswire.com/ -- The market across North America is expected to hold the lion’s share through 2020. However, the market across Asia-Pacific is projected to portray the highest CAGR of 16.0% from 2020 to 2030.

As per the report published by Allied Market Research, the global 3D LiDAR sensor market is estimated to reach $508.0 billion by 2027, growing at a CAGR of 14.5% from 2020 to 2030. The report highlights the market potential, market characteristics, competitive landscape, and growth by segmentation.

Asavari Patil, a Lead Analyst, Semiconductor and Electronics at Allied Market Research, stated, “Increase in demand for 3D imaging, falling prices of drones, and rapid development in autonomous vehicle technology has boosted the growth of the global 3D LiDAR sensor market. However, lack of awareness hinders market growth. On the contrary, surge in demand in forestry and agriculture is expected to open new opportunities in the future”.

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COVID-19 Impact Analysis:
1. The Covid-19 pandemic had a severe effect on the 3D LiDAR sensor market due to partial or complete lockdown that disrupted the supply chain. The uncertainty in the stock market and falling business confidence hampered the market growth.
2. The pandemic affected the electronics sector as production facilities have stalled, which boosted the electronics and semiconductor products in the industry. The large manufacturing interruption across European and Asian countries created a huge gap in supply and demand.

The global 3D LiDAR sensor market is segmented on the basis of type, application, connectivity, end user, and region. Based on type, the mechanical segment is expected to hold the highest market share during the forecast period. However, the solid state segment is projected to portray the fastest CAGR of 15.6% during the forecast period.

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On the basis of application, the corridor mapping segment is estimated to hold the lion’s share through 2030. However, the advanced driver assistance system (ADAS) segment is anticipated to register the highest CAGR of 16.8% during the forecast period.

The global 3D LiDAR sensor market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America is expected to hold the lion’s share through 2020. However, the market across Asia-Pacific is projected to portray the highest CAGR of 16.0% from 2020 to 2030.

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The global 3D LiDAR sensor market includes an in-depth analysis of the prime market players such as Faro Technologies Inc., Infineon Technologies AG, GeoSLAM Ltd., Leica Geosystems AG, Leddartech, Sick AG, Raymetrics S.A., Velodyne Lidar Inc., Vaisala, and Mitsubishi Electric Corporation.

About Allied Market Research:
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 domains.

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