LiDAR market worldwide is projected to grow by US$1.7 Billion, driven by a compounded growth of 17.6%.
Mechanical LiDAR, one of the segments analyzed and sized in this study, displays the potential to grow at over 17.2%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$1.8 Billion by the year 2025, Mechanical LiDAR will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the United States will maintain a 19% growth momentum.
Within Europe, which continues to remain an important element in the world economy, Germany will add over US$64.8 Million to the region's size and clout in the next 5 to 6 years. Over US$122.2 Million worth of projected demand in the region will come from other emerging Eastern European markets.
In Japan, Mechanical LiDAR will reach a market size of US$124.4 Million by the close of the analysis period. As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 17.3% over the next couple of years and add approximately US$295 Million in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include the following, among others:
- Beijing Surestar Technology Co. Ltd. (China)
- FARO Technologies Inc. (USA)
- Geokno India Pvt. Ltd. (India)
- Leica Geosystems AG (Switzerland)
- Quantum Spatial Inc. (USA)
- RIEGL Laser Measurement Systems GmbH (Austria)
- SICK AG (Germany)
- Teledyne Optech (Canada)
- Trimble Inc. (USA)
- Velodyne LiDAR Inc. (USA)
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