The global market for radar and LiDAR technology for railway application is expected to be worth USD 1.5 billion in 2023. The market is expected to reach USD 3.7 billion by 2033, growing at a 9.1% CAGR from 2023 to 2033. The market is likely to be driven by growing demand for radar and LiDAR technology sensors in nations including India and Indonesia, as well as higher expenditures in advancements in autonomous railway systems.
Radar and LiDAR technology are vital in railway applications. Such technologies are capable of helping track railway track faults, avoid rail collisions, detect pedestrians, monitor and regulate trains, and for a variety of other applications.
Radar systems are primarily employed for train traffic control and the detection of items on train tracks. In contrast, LiDAR technology sensors are utilized to perform inquiries to collect information about the railway track’s surrounding land in order to plan the most potent railway route.
Request for a Sample:
https://www.futuremarketinsights.com/reports/sample/rep-gb-13225
Key Takeaways:
- The radar & LiDAR technology market for railway applications is expected to grow at a CAGR of 7% over the next two decades (2018-2022).
- The market in the United States is estimated to continue to expand at a CAGR of nearly 10.4% through 2033.
- According to the report, the United States will account for 19.8% of the market in 2022.
- The device segment was predicted to account for 58.9% of the market in 2022.
- The radar sensor modules segment was projected to account for 70.9% of the market in 2022.
“Developments are well-synchronized and corresponded to speed up the industry’s embrace of smart railways, leading to a northward pattern in revenue generation predicted for the global Radar and LiDAR for railways application market between 2023 and 2033,” says an FMI analyst.
Competitive Landscape
Companies in the market use a variety of tactics of expansion to broaden their presence across lucrative markets. Product launches, collaborations with key players, agreements to purchase, and the strengthening of regional and global distribution networks are examples of these strategies. As an instance:
- Bosch launched an innovative LiDAR sensor in July 2020. By illuminating the target objects with laser light and measuring the reflected pulses, the new sensor can determine the distance between them. The LiDAR has a detection range of 250 meters and can recognize up to 24 objects at once. The latest sensor is employed in railway applications for safety.
- ELVA-1 evaluated their novel PPC-10G (70/80 GHz) wireless radios for train-to-ground connectivity in October 2020. This system was created to address the issue of providing high-speed trains with broadband Internet access on straight sections of the railway.
Request Customization Available:
https://www.futuremarketinsights.com/customization-available/rep-gb-13225
Key Players
- Radarxense BV
- Radar Vision
- Earth Radar Pty Ltd
- Bosch Mobility Solutions
- Navtech Radar
- ELVA-1
- DEUTA-WERKE GmbH
- Hupac Intermodal
- BlackBerry Limited
- Leica Geosystems AG
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the Radar & LiDAR technology for railway applications market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of Radar Technology (Radar Sensor Modules, Service), LiDAR Technology (Devices, LiDAR Processing & Mapping Software, Services), Application (Railway Track Faults Detection, Rail Collision, Pedestrian Detection, Train Tracking & Control) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
Request Customization Available:
https://www.futuremarketinsights.com/customization-available/rep-gb-13225
Key Segments Covered in the Radar & LiDAR Technology for Railways Application Market
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
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
