The global high range obstacle detection system market was valued at US$ 10,159. 4million in 2019 and is projected to reach US$ 18,760. 5million by 2027; it is expected to grow at a CAGR of 8. 1% during 2020-2027.
New York, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "High Range Obstacle Detection System Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type and Application" - https://www.reportlinker.com/p05988369/?utm_source=GNW
Lidar is one of the fastest-growing technologies, and it is driving the demand for high range obstacle detection systems across several industry sectors.Continuous advancements in this technology with growing investments by companies and the potential applications of this technology in industries such as automotive, engineering, construction, environment monitoring, mapping and exploration, and agriculture are a few of the factors driving adoption of lidar in various industries.
Companies such as Neptec Technologies (now Lumibird Canada), Quanergy Systems Inc., SICK AG, A Eye Inc., Innoviz Technologies Ltd., and Waymo LLC are involved in the development of lidar sensors/systems that can be employed in diverse range of industries. The continuous innovations in laser optics, real-time 3D processing, and detection technologies are further boosting the advancements in lidar systems. Lidar sensors are being widely employed in robotics and autonomous systems owing to their performance benefits over other radar-based obstacle detection sensors. The capability of lidar-based sensors to generate high resolution 3D maps and 360° vision with accurate depth information is driving their adoption in industries such as automotive, manufacturing and construction, aerospace and defense. These factors are escalating the demand for lidar-based high range obstacle detection sensors.
According to the latest report from the World Health Organization (WHO), the US is the worst-affected country due to the COVID-19 outbreak in terms of confirmed cases and deaths.The outbreak first began in Wuhan (China) in December 2019, and since then, it has spread at a rapid pace across the world.
The pandemic is affecting both supply and demand dynamics for several industries, which is further affecting the adoption of high range obstacle detection systems. The ongoing slump in industrial production and demand, coupled with disruptions in technology adoption in various sectors, especially in the automotive sector, has lowered the demand for high range obstacle detection systems, and the trend is likely to continue for the next few quarters.
Overall size of the high range obstacle detection system market has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market .
The process also serves the purpose of obtaining an overview and forecast for the high range obstacle detection system market with respect to all the segments.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultant such as valuation experts, research analysts, and key opinion leaders, specializing in the high range obstacle detection system market . SICK AG; BAE Systems plc; Blickfeld GmbH; Collins Aerospace, a Raytheon Technologies company; Honeywell International Inc; ifm electronic GmBH; LIVOX; Lumibird Canada; Robert Bosch GmbH; and Thales Group are among the key players profiled during this market study.
Read the full report: https://www.reportlinker.com/p05988369/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001