The Pressure Sensor Market was valued at $7.21 billion in 2016 and is projected to reach $12.07 billion by 2024, growing with a CAGR of 6.7% during the forecast period of 2017-2024. The Piezoresistive sensor market generated the highest market share in the global pressure sensor market, in terms of revenue.

Pressure sensors are the usual sensors that sense pressure and communicate by converting it into an analog signal. They are also referred to as pressure transmitters, pressure indicators, pressure transducers, piezometers, and even manometers. The usage of pressure sensors is not only confined to the indication of pressure only. It indirectly helps in measuring certain other variables such as speed, altitude, fluid or gas flow, and water level. Pressure sensors have gained wide acceptance in varied industries such as manufacturing, biomedical, automobile, aviation, hydraulic measurements, air conditioning, and other consumer electronic goods. In terms of geography, Asia-Pacific is the market leader and is anticipated to show an impressive growth during the forecast period. The growth of this region can very well be attributed to the surging demand from developing countries such as China, South Korea, and India.

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Market Determinants

Since last two decades LIDAR technology has widely been upgraded by the improvisations in automated processing. This has emerged out as a major factor that is driving the growth of LIDAR market. Moreover, the advancement in the data processing technology over other surveying technologies is also fuelling the market growth. In addition to this, recent development in the automotive industry, such as autonomous cars and advanced driver assistance systems (ADAS) has brought up a steep surge for advanced 3D imaging technology. This eventually will boost the growth of LIDAR market globally. However, high cost, lack of technological awareness and complicates installation might act as restraining factors for the market growth. On the other hand, the never ending demand for upgraded automated vehicles and sensors will provide huge growth platform for the LIDAR system market.

Lidar MARKET DETERMINANTS-IMPACT ANALYSIS, 2017 Vs. 2024

 

Market Segmentation

The global LIDAR market is segmented on the basis of type, components used, application, end user sectors and geography. By type, the market is segmented as terrestrial, aerial, mobile and short range are. On the basis of components, the LIDAR system market is segmented as a laser scanner, inertial navigation system, camera, GPS receiver and micro-electro-mechanical system. Corridor mapping, seismology, and exploration and detection purpose are some major application of LIDAR systems. By End-user, the market is categorized as, defense and aerospace, civil engineering, archaeology, forestry and agriculture, mining industry and transportation. On the basis of geography, the LIDAR market is segmented as North America, Europe, Asia-Pacific, and LAMEA.

Some of the key market players of the global LIDAR market are Airborne Hydrography AB, Leosphere SaS, Faro Technologies Inc., Leica Geosystems Inc. (Hexagon), 3D Laser Mapping Inc., Firmatek LLC, RIEGL Laser Measurement Systems GmbH, Aerometric Inc., Mira Solutions Inc., Optech Inc. (Teledyne Technologies), Quanergy Systems, Inc. The key market players are diverting their focus on new product launches, in order to expand their product portfolio and survive the market competition.

Global LIDAR Market Segmentation
By Product Type
• Terrestrial / Static
• Aerial
• Mobile
• Short-range

By Application
• Corridor mapping
• Seismology
• Exploration and detection
• Others

By Components
• Laser
• Inertial navigation system
• Camera
• Gps/Gnss receiver
• Micro Electro Mechanical System (MEMS)

By End-User
• Defense and aerospace
• Civil Engineering
• Archaeology
• Forestry and Agriculture
• Mining Industry
• Transportation

By Geography
• North America
• Europe
• Asia-Pacific
• Rest of World

KEY MARKET PLAYER
• Velodyne
• IBEO automotive systems GmbH
• Hokuyo Automatic Co. Ltd.
• Airborne Hydrography AB
• Leosphere SaS
• Faro Technologies Inc.
• Leica Geosystems Inc. (Hexagon)
• 3D Laser Mapping Inc
• Firmatek LLC
• RIEGL Laser Measurement Systems GmbH
• Aerometric Inc.
• Optech Inc.
• Quanergy Systems, Inc
• Mira Solutions Inc.

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