Radar & LiDAR Technology for Railways Application Market Size, Share, Trends, Application Analysis and Growth by Forecast to 2021-2031
2021 Analysis and Review: Radar & LiDAR Technology for Railways Application Market by Radar Technology – Radar Sensor Modules and Services for 2021 – 2031
Dubai, United Arab Emirates – June 30, 2021 /MarketersMedia/ —
The global Radar & LiDAR technology for railways application market is expected to grow at 9.6% CAGR between 2021 and 2031, projects ESOMAR-certified consulting firm Future Market Insights (FMI).
Radar & LiDAR technology is gaining traction in railway and transportation sector as a part of train protection and collision prevention system. Increasing demand for radar and LiDAR sensors in smart railway systems will inflate the market growth.
Recent developments in technology used to control train traffic, track train routing and scheduling, and detect on-track pedestrian will support the radar & LiDAR technology for railways application growth.
Increasing government investment towards designing autonomous railway system especially in emerging economies and surge in demand for radar sensors will emerge as market drivers. Some of the leading companies are launching advanced LiDAR systems to offer higher resolution and improved accuracy. These attributes are considered extremely critical for tracking railway speed.
Mobile LiDAR equipments are capable of high speed mapping of rail corridors with rate of 1.1 Mn per second. This equipment is installed on a vehicle or train locomotive. As the vehicle moves the LiDAR perfectly maps the tracks and surrounding area.
Incorporation of mobile LiDAR equipment in railways infrastructure project planning and development, along with construction, operations, maintenance, safety, and asset management will accelerate the market growth.
“Companies operating in the market are launching advanced solutions to improve rail collision prevention mechanism. Their efforts will elevate the market demand,” says the FMI analyst
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Key Takeaways
The global radar & LiDAR technology for railways application market is forecast to reach the valuation of US$ 4.98 Bn by the end of assessment period
The U.S. radar & LiDAR technology for railways application market is anticipated to grow at 10.4% CAGR throughout the forecast period. Increasing government funding towards improving productivity will aid overall expansion.
Rapid adoption of technology for producing digital railways system and increasing government initiatives towards developing high speed rail network will have positive influence on the U.K. radar & LiDAR technology for railways application market growth.
China has been working extensively towards developing its railway infrastructure. With increasing research and development initiatives undertaken for digitization of railway system, impressive growth is on card for the China radar & LiDAR technology for railways application market.
Integration of cloud based traffic planning solutions with railways and track management system will fuel the market growth during the upcoming years.
Increasing demand for safe protection system, reliable scheduling and tracking of trains along with their positioning has perpetuated the radar & LiDAR technology for railways application market demand.
Competitive Landscape
Some of the leading companies operating in the market are:
Radarxense BV
Radar Vision
Earth Radar Pty Ltd
Bosch Mobility Solutions
Navtech Radar
ELVA-1
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More Insights on the Global Radar & LiDAR technology for railways application Market
Future Market Insights, in its new offering, provides an unbiased analysis of the radar & LiDAR technology for railways application market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the radar & LiDAR technology for railways application market with a detailed segmentation on the basis of various parameters. These include:
Radar Technology
Radar Sensor Modules
Speed Measurement Radar Sensors
Distance Measurement Radar Sensors
Service
Integration & Installation Services
Support Services
LiDAR Technology
Devices
Mobile LiDAR Scanners
Aerial LiDAR Drones
On-board LiDAR Sensors
LiDAR Processing & Mapping Software
Services
LiDAR Survey & Mapping Services
Consulting Services
Support Services
Application
Railway Track Faults Detection
Rail Collision
Pedestrian Detection
Train Tracking & Control
Region
North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East & Africa (MEA)
Key Questions Covered in the Report
How will the market radar & LiDAR technology for railways application expand through 2031?
Which top manufacturing companies are leading the global radar & LiDAR technology for railways application market?
What are the key drivers and trends that will stimulate the radar & LiDAR technology for railways application sales?
What are the challenges that will affect the sales of radar & LiDAR technology for railways application market?
Which region will remain the most lucrative throughout the forecast period?
What is the impact of COVID-19 on radar & LiDAR technology for railways application market?
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Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/radar-and-lidar-technology-for-railways-application-market
Source: MarketersMedia
Release ID: 89032255
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