Theranostics Market Analysis, Impact Of Covid-19 On Sales, Business Opportunities In 2021

 The Global Theranostics Market Size Is Anticipated To Reach Over USD 20.52 Billion By 2026 According to a new study published by Polaris Market Research.

 

Theranostics are defined as a combination of diagnostics and drug therapeutics to improve the drug safety, drug restructures development and effectiveness. The combination of effective medical drugs and advanced diagnostic tests has been given numerous names, such as Dx/Rx partnering, integrated medicine, pharmacodiagnostics, and companion diagnostics.

 

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The increasing occurrence of life-threatening and chronic diseases and the demand for innovative chemotherapeutic treatments associated with the need for improving disease detection are the key factors propelling the global theranostics market. In addition, the rising potential of clinically adaptable nanomaterials in the biological imaging area and therapy is expected to bolster the market growth. Moreover, improved collaboration between drug and diagnostics firms are anticipated to enhance the growth of the theranostics market. In addition, a decrease in costs and reduced time required for medical trials monitored by pharmaceutical segments are another key drivers propelling the growth of the global theranostics market.

  

The global theranostics market is segmented on the basis of disease type, technology, and geography. On the basis of disease type, the global theranostics market is segmented into Neurological Disorders, Cardiovascular Diseases, Oncology Disorders, and Immunological Disorders. On the basis of disease type, the oncology segment is anticipated to boost the market growth. Increasing cancer cases and theranostics potentials to make effective cancer care are the factors associated with the market growth.

 

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On the basis of technology, the global theranostics market is segmented into Polymerase Chain Reaction (PCR), In-situ Hybridization, Immunohistochemistry, and sequencing. In 2017, the PCR is anticipated to dominate the market growth. The existence of a robust evaluate assortment in terms of polymerase chain reaction (PCR) is accountable for the larger market share.

 

Some major key players in global theranostics market include F Hoffman La Roche, Thermo Fisher Scientific Inc., GE Healthcare, Agilent Technologies, Qiagen NV, Foundation Medicine, Leica Biosystems Nussloch GmBH, and Pfizer, Inc. among others.

 

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Anti-Drone Market Size, Share, Opportunities, In-Depth Analysis And Forecasts

 According to a new study published by Polaris Market Research the worldwide anti-drone market is anticipated to reach over USD 3,064 million by 2026. In 2017, the defense and military segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

 

The rising incidences of misuse of drones and growing terrorist activities primarily drive the growth of this market. Smugglers and traffickers are increasingly using drones for malicious and criminal activities, thereby increasing the demand of anti-drones. Other driving factors include technological advancement, and increasing investment in R&D.

 

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There has been an emerging threat from drones to critical infrastructure. A high number of cases of drone overflights at nuclear and power stations have been registered. In 2014, after several cases of overflights of reactors, French authorities invested $1.1 million for detection, identification, and neutralization of small aerial drones.

 

There has been a significant increase in spoofing and cyber-attacks. Spoofing is taking control of a drone by hacking the radio signal and sending commands to the aircraft from another control station. Valuable data can be stolen or deleted through cyber-attacks. Complaints registered against misuse of drones also include snooping, burglary, smuggling contraband into prisons, and mid-air near misses among others. Terrorists have started using drones to gather valuable intelligence on their enemies. All these factors have increased the adoption of anti-drone systems.

 

North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The driving factors for anti-drone market in North America include increasing number of security breach incidents by unidentified drones and increasing terrorist activities. Recent incidences of riots & civil unrest have increased the demand for anti-drones in this region. North America spends high budgets for military expenditure and for research & development programs, which augment market growth.

 

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The various end-users of anti-drones include defense and military, government, commercial, and others. In 2017, the defense and military sector accounted for the largest share in the global market, and is expected to maintain its lead during the forecast period. The demand for anti-drones in the military sector has increased owing to growing cases of smuggling, trespassing, and spying. Increasing need for border security, and threats from neighboring countries support the adoption of anti-drones.

 

The well-known companies profiled in the report include Saab AB, Thales Group, Raytheon Co., Lockheed Martin Corp. , Dedrone Inc, Droneshield Ltd., Northrop Grumman Corp., Theiss UAV Solutions, LLC, Blighter Surveillance Systems Ltd., Israel Aerospace Industries Ltd.,  among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

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5g Infrastructure Market Size, Share, Opportunities, In-Depth Analysis And Forecasts

 The global 5G Infrastructure market size is expected to reach USD 47.6 billion by 2027 according to a new study by Polaris Market Research. 5G infrastructure is an advanced technology for a mobile broadband network and a combination of Radio Access Network (RAN), core network, and backhaul & transport. It supports the future internet (FI) and provides the ultra-high broadband infrastructure for several industry vertical including manufacturing, healthcare, and automotive. With supporting high-speed internet services, 5G infrastructure helps in undertaking futuristic necessities and creates an atmosphere to facilitate socio-economic changes in the market.

 

Industries in the Europe region are ready for this change, when 3G arrived, companies mobilized their workforce, 4G started digitizing their work processes and value chain. Nowadays, industries already set up digitization pathways, enabling real time consensus between suppliers and customers through digital transformation achieved through cutting edge communication network, bolstering productivity, while keeping data secure. To capitalize on the ongoing course of evolution the industries need to focus on innovative service, sustainable market investment, promoting digital champions, reforms in spectrum policies, and regulated access to fiber backhaul.

 

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Furthermore, the outbreak of COVID-19 has dramatically changed the prospects for 5G infrastructure across the globe. In addition, several applicable verticals have jolted resulting in a supply chain disruption causing slowdown in production. However, to regain profitability & continue production, the market is expected to grow significantly in the upcoming year.

 

With advancements in the field of telecommunications, especially in mobile networks; the demand for 5G infrastructure has increased tremendously. The development of several industries succeeded with the use of 4G technologies across various sectors is one of the factor propelled market growth. Moreover, the rise in demand for enhanced bandwidth connectivity with low latency for several applications including drone connectivity and vehicle to everything (V2X) is projected to fuel the market growth.

 

Market participants such as Nokia Corporation, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co., Ltd., Comba Telecom Systems Holdings Ltd., ZTE Corporation, Cisco Systems, Inc., Fujitsu Limited, CommScope Inc., Casa Systems, Samsung Electronics, Altiostar, NEC Corporation, Airspan Networks, HPE, Mavenir, Ceragon, Aviat Networks, Inc., Parallel Wireless, JMA Wireless are some of the key players operating in the global market.

 

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 Key players in the market are focusing on launching new products, executing partnership, developing existing offering, and have adopted various strategies to expand their foothold in the market. In July, 2020, NEOM, the cross border smart city in Saudi Arabia signed contract with the STC group for establishing the 5G infrastructure. The contract would accelerate its digital ambitions, starting with the innovation center.

Intravenous Immunoglobulin Market Size, Share, Opportunities, In-Depth Analysis And Forecasts

 The global intravenous immunoglobulin market size is anticipated to reach over USD 16,882.15 Million by 2026, according to a new research published by Polaris Market Research 

 

Immunoglobulins (IGs) are glycoproteins that are formed in the blood plasma in response to the antigens (Ag), which are considered as a foreign material to the host system. IGs are highly composite objects and precise in their nature. They are achieved from blood by fractionation procedure and filtered fo non-therapeutic as well as therapeutic applications. In therapeutics, they are administered intravenously for the treatment of several immunodeficiency.

 

The global intravenous immunoglobulin market majorly is driven by rising elderly population, increasing occurrence of immunodeficiency disorders, growing implementation of IVIG procedures and increasing usage of off-label indications. Increasing number of patients with immunodeficiency disease is the primary reason for the expansion of IVIG procedures. According to the World Health Organization (WHO), there are approximately 50 diverse Primary Immune Deficiency (PID) such as X-lined hypo-gamma-globulinemia, specific antibody deficiency and others. 

 

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Moreover, according to the U.S. National Library of Medicine and National Institute of Health, around 6 million patients are suffering from PID globally. Rising occurrences of these immune diseases is anticipated to bolster the demand for intravenous immunoglobulin treatments during the forecast period. The demand for IVIG treatments for the primary and acquired immunodeficiency disorder is growing as it is the only available as well as most effective treatment option. Moreover, inactive lifestyle behaviors, including intake of saturated fats, sugars and salts, less physical actions, and high alcohol intake have led to the surge in the occurrence of such diseases. Increasing occurrence of such lifestyle related disease including antibody deficiency disorders and obesity are the factors anticipated to drive the global intravenous immunoglobulin market growth.

  

The global intravenous immunoglobulin market is segmented on the basis of Application and geography. On the basis of application, the global Intravenous Immunoglobulin Market is categorized into Chronic Inflammatory Demyelinating Polyneuropathy (CIDP), Hypogammaglobulinemia, Congenital AIDS, Immunodeficiency diseases, Multifocal motor neuropathy, Myasthenia Gravis, Chronic Lymphocytic Leukemia, Kawasaki disease, Guillain-Barre syndrome, and Idiopathic Thrombocytopenic Purpura (ITP). In 2017, Hypogammaglobulinemia is estimated to dominate the application segment. The dominancy is attributed to the growing global occurrences of primary immunodeficiency diseases (PID). It is the most common chronic immune defect in patients with lymphoproliferative disorders (LPDs). According to the Centers for Disease Control and Prevention (CDC) in 2012, the global occurrence rate of hypogammaglobulinemia was around 2 per 100,000 populations moreover, the number of people suffering this type of disease are estimated to increase during the forecast period. Growing occurrence of immunodeficiency disorders associated with the high implementation of IVIG therapies is expected to drive the segment growth significantly.

 

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Some major key players in global intravenous immunoglobulin market include Baxter International Inc., CSL Ltd., Grifols S.A, Octapharma AG, Kedrion Biopharma Inc., LFB group, Biotest AG, China Biologics Products, Inc., BDI Pharma Inc., and Bayer Healthcare among others.

Anti-Aging Market Is Expected To See Huge Growth. Latest Research Report

 The global anti-aging market size is expected to reach USD 29.8 billion by 2027 according to a new study by Polaris Market Research. The report “Anti-Aging Market Share, Size, Trends, Industry Analysis Report, By Product (Hair Color, Botox, Dermal Fillers, Anti-Stretch Marks, Anti-Wrinkle, Ultraviolet Absorbers and Others),  By Devices (Laser, Microdermabrasion, Radiofrequency, Anti-Cellulite and Others), By Treatment (Liposuction, Anti-Adult Acne Therapy, Hair Restoration Treatment, Breast Augmentation, Chemical Peel, Intense Pulse Light (IPL), Anti-Pigmentation and Others), By Demography (Baby Boomer, Generation Y and Generation X), By Regions; Segment Forecast, 2020 –2027”gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Aging is associated with decline in bodily functions or changes in the human body. It is also associated with steady loss of strength, muscle mass and power, in combination with reduction in lung capacity and maximal rate of oxygen consumption. Beauty and skin health is considered one of the prominent factors that represents overall perception of health and well-being in consumers. Anti-aging products and treatments help combat the consumer skin by masking, preventing and reducing signs of aging.

 

The prominent factors favoring the market growth include rise in aging population, globally. As per the statistics published by the United Nations, through its World Population Prospects working group, in 2019, by 2050, there would be 1 in 6 old age people (over 65 years), as compared to 1 in 11 in 2019. These old age group accounts for one fifth of the total population in 17 countries, and it is projected to be increased by the end of this century in 155 countries, covering 61 per cent of the global population. This is mainly due to increase in life expectancy and declining fertility rates among the people.

 

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In 2019, there were around 703 million aged over 65+. Eastern and South East Asia accounted for the largest share of around 260 million, followed by Europe and North America with over 200 million. It is projected that in South Asia the biggest increase in old age would be seen in South Korea, Taiwan, and Singapore.

 

Signs of aged skin becomes gradually noticeable and is associated with loss of elasticity, loss of volume, appearance of wrinkles and fine lines. Rising consciousness among the populace regarding younger looking skin is furthermore surging the overall demand for anti-aging products and treatments, and thereby enhances the market growth.

 

Market participants such as Estée Lauder Companies Inc., Allergan plc, Avon Products Inc., L’Oreal SA, Procter & Gamble Co., Unilever, Shiseido Company, Limited, Beiersdorf AG, CCA Industries Inc., Christian Dior SA, Johnson & Johnson, Chanel SA, Neutrogena Corporation, Oriflame Cosmetics, La Prairie Group AG, Clarins, Ella Bache, NeoStrata Company Inc., Unity Biotechnology, Inc., Beauty Counter, Lumenis Ltd. and Revlon Inc., are some of the key players operating in the  global market.

 

Players in the market are focusing on developing anti-aging products and treatments to meet the rising demand of consumers to fight aging. In line with this, in January, 2020, Pure Nutrition Ltd, launched a range of cosmetic products in India, to tap the country’s booming beauty market. The range consisted one hair care and three skin care products produced from natural and organic ingredients and having anti-aging, anti-pollution and anti-fatigue properties.

 

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Additionally, in September 2019, MONAT corp., specializing in natural anti-aging hair care products introduced MONAT skincare products. The launched facilitated eight skincare products designed to tackle anti-aging issues of the consumers with being cruelty-free, naturally based and vegan.

 

Polaris Market Research has segmented the Anti-Aging Market report on the basis of product, devices, treatment, demography and region

 

Anti-Aging Product Type Outlook (Revenue – USD Million, 2016 – 2027)

• Hair Color
• Botox
• Dermal Fillers
• Anti-Stretch Marks
• Anti-Wrinkle
• Ultraviolet Absorbers
• Others

Anti-Aging Devices Outlook (Revenue – USD Million, 2016 – 2027)

• Laser
• Microdermabrasion
• Radiofrequency
• Anti-Cellulite
• Others

Anti-Aging Treatment Outlook (Revenue – USD Million, 2016 – 2027)

• Liposuction
• Anti-Adult Acne Therapy
• Hair Restoration Treatment
• Breast Augmentation
• Chemical Peel
• Intense Pulse Light (IPL)
• Anti-Pigmentation
• Others

Anti-Aging Demography Outlook (Revenue – USD Million, 2016 – 2027)

• Baby Boomer
• Generation Y
• Generation X

 

Sugar Confectionery Market Is Expected To See Huge Growth. Latest Research Report

 The global sugar confectionery market size is anticipated to reach USD 69.5 billion by 2026, according to a new research published by Polaris Market Research. In 2017, the offline stores segment dominated the global sugar confectionery industry, in terms of revenue. Asia-Pacific is expected to grow at the highest rate during the forecast period.

 

A significant increase in population, changing eating habits, and rising disposable income drive the market growth. Other factors influencing the global sugar confectionery industry include growing inclination towards gifting of confectionery products, and investments by market players in promotional activities, advertising campaigns, and social media marketing. Improvement in lifestyle due to rise in income level, especially in the developing countries of Asia-Pacific, further fuels the market growth.

 

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Factors such as increase in per capita income, changes in consumer behavior, and rising trend of e-commerce are expected to accelerate the growth of sugar confectionery industry in the coming years. However, increasing health awareness, rising cases of obesity related diseases, and shift in trend towards consumption of low calorie food are expected to restrict the growth of the sugar confectionery industry. Increasing demand from developing nations, rising demand for organic and premium chocolate products, and growing trend of gifting confectionery products are factors expected provide numerous growth opportunities to the market players during the forecast period.

 

Asia-Pacific is expected to grow at the highest rate during the forecast period. The increasing population in the region coupled with rising disposable income drives the market growth in the region. The increasing demand of Sugar Confectionery in the region is expected to be driven by growth in countries such as China, Japan, and India. The development in retail market, stable economic growth, and growing trend of using sugar confectionery as gifts supports the market growth in the region.

 

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The well-known companies profiled in the sugar confectionery market analysis report include Nestle SA, Mondelez International, Perfetti Van Meller, Lindt & Sprungli, Hershey Food Corp, Ferrero Group, Mars Incorporated, Kraft Foods Co., WM Wrigley JR Company, and Haribo GmbH & Co. KG among others. These companies are consistently launching new products to enhance their offerings in the global sugar confectionery industry. With change in lifestyles, companies are innovating and introducing new products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

 

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Smart Antenna Market Is Expected To See Huge Growth. Latest Research Report

 The Smart Antenna Market is anticipated to reach around USD 9,705 million by 2026 according to a new research published by Polaris Market Research. In 2017, MIMO segment dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global smart antenna market revenue during the forecast period.

 

The growing demand for smart antenna in wireless communication networks coupled with rising need for efficient and stable network performance has boosted the adoption of smart antenna. The rising penetration of smartphones, and increasing adoption of mobile-connected devices further support the growth of this market. The growing demand for high speed communication services, high demand for wireless broadband services, and declining costs of connected devices would accelerate the adoption of smart antenna during the forecast period. However, high costs associated with smart antenna is expected to restrict the growth of the market to a certain extent. Growing demand from emerging economies, increasing adoption of IoT and advancements in cellular networks are expected to provide numerous growth opportunities in the coming years.

 

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North America generated the highest revenue in the market in 2017, and is expected to lead the global smart antenna market throughout the forecast period. The presence of established telecom and cloud infrastructure in this region, and growing trend of IoT drive the smart antenna market growth in the region. The growing demand of mobile devices, and technological advancements further support market growth in the region. The use of smart technologies in varied sectors and growing need for high speed communication services for increased efficiency in diverse industries is expected to support smart antenna market growth in this region during the forecast period.

 

The key players operating in the smart antenna market include Texas Instruments Incorporated, Qualcomm Technologies, Inc., Broadcom Limited, Airgain, Inc., Motorola Solutions, Inc, Ruckus Wireless, Airgo Netwroks Inc., Interdigital communications Corp., Lucent technologies, and Sierra Wireless. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

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Ceramic Membrane Market Is Expected To See Huge Growth. Latest Research Report

 The global Ceramic Membrane market size is expected to reach USD 15,900.1 million by 2026 according to a new study by Polaris Market Research

 

Ceramic membranes are being used in high value applications such as protein fractionation in dairies, cell harvesting, separation of flow streams among others. Ability to withstand extreme pH conditions as well as to operate under extreme temperature ranges are some of the factors benefitting the market growth. Properties of ceramic materials such as inertness, longer service life, reliability, heat resistance, backflush capability, regenerative capacity, resistance to acids, alkalis are being effectively used by companies and have developed superior ceramic membrane filtration systems that find applications in a wide range of industries ranging from chemicals to water treatment.

 

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Companies operating in this market have developed products that have low flow resistance while in turn delivering high mechanical as well as chemical stability. They have also made metallurgical strides and now use a combination of manufacturing materials to produce quality and superior product. Advancements in manufacturing processes have enabled manufacturers of ceramic membranes to have better control over various ceramic membrane aspects such as layer texture, porosity, among others. Such trends have resulted in the serving of customized needs of high value applications such as premium food products, pharmaceuticals, etc. and this trend has benefitted the overall market growth.

 

From an expensive, stringent, and difficult to use product, due to the continuous R&D efforts, these membranes have evolved into a sustainable and robust technology that can be effectively use to obtain clean water. Water & wastewater treatment industry is increasingly adopting these membranes due to inherent advantages such as 100% integrity into process, high operating temperature and pressure range, foul resistant, and ability to back rinsing. Water scarcity across the globe, rising population, initiatives taken by governments and world agencies to ensure clean water access to all are fueling water treatment market growth and this trend is in turn anticipated to contribute to ceramic membrane demand for water treatment applications.

 

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The North American market is dominated by major players in the region influencing the overall supply chain. In addition, environmental standards related to minimizing of energy usage will drive the product growth offering low cost water treatment. Presence of key universities in the regions focusing on water treatment technologies are the key factor for regional competition. Product innovation and acquisitions are among the major strategies adopted by the players in the region.

 

Concentrated efforts are being taken to reduce the overall capital expenditure as well as operating expenditure of the ceramic membrane filtration systems. Such efforts have garnered attention of governments, as well as industry participants. Such concentrated efforts are expected to further reduce the overall ceramic membrane manufacturing, operational and maintenance costs. Companies such as TAMI Industries, A-tech innovation GmbH, Liqtech A/S, Saint Gobain, Qua Group LLC, Hyflux Limited, Nanostone Water Inc., GEA Group, Toray Industry Inc., Veolia Water Technologies, and Pall Corporation are some of the key players operating in the market

 

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Fitness App Market Analysis, Impact of COVID-19 on Sales, Business Opportunities in 2021

 The global fitness app market is expected to reach US$ 15.59 billion by 2028, according to a new study by Polaris Market Research. The report “Fitness App Market Share, Size, Trends, Industry Analysis Report, By Device (Smartphones, Tablets, Wearable Devices); By OS Platform (iOS, Android, Windows); By Type; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The growth in the market is attributed to the rising awareness among the consumers pertaining to leading a healthy lifestyle owing to the outbreak of the COVID-19 pandemic, increasing smartphone penetration rate, and busy lifestyles causing people to look for connected healthcare. Moreover, positive investment scenarios for start-ups, diversification among products and services by key players, innovative promotional strategies, and social media influence also created growth prospects for fitness software.

 

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Segment Highlights

• The workout & exercise app segment accounted for the largest revenue share in 2020 owing to the increasing obesity among youth and adults. The segment held over 30% of the global share in 2020.
• Based on device type, the smartphone segment is projected to constitute over 60% of the industry share by 2028. The increasing penetration of the product with smartphones is primarily responsible for such high revenue share.
• North America region is dominating the global industry for the product holding over one-third of the market share throughout the forecast period. Positive funding scenario and increasing awareness among consumers is favoring industry growth.
• The players including Fitbit, HealthifyMe, and MyFitnessPal Inc. together held a significant market share in 2020 owing to their regional presence and several product offerings across the operating systems.

List of Key Players

• MyFitnessPal Inc.
• Dom and Tom
• Motorola Mobility LLC
• Grandapps
• Fitbit
• Azumio
• WillowTree, Inc.
• HealthifyMe
• Others

 

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Polaris Market Research has segmented the fitness app market report on the basis of type, platform, device type, and region.

 

Fitness App, Type Outlook (Revenue – USD Million, 2016 – 2028)

• Workout & Exercise Apps
• Disease Management
• Lifestyle Management
• Nutrition & Diet
• Medication Adherence

Fitness App, OS Platform Outlook (Revenue – USD Million, 2016 – 2028)

• Android
• iOS
• Windows

Fitness App, Device Type Outlook (Revenue – USD Million, 2016 – 2028)

• Smartphones
• Tablets
• Wearable Devices

Fitness App, Regional Outlook (Revenue – USD Million, 2016 – 2028)

• North America
  • U.S.
  • Canada
• Europe
  • France
  • Germany
  • UK
  • Italy
  • Spain
  • Netherlands
  • Austria
• Asia Pacific
  • China
  • India
  • Japan
  • Malaysia
  • South Korea
  • Indonesia
• Central & South America
  • Mexico
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

 

Automotive LiDAR Market Is Expected to See Huge Growth. Latest Research Report

 The global automotive LiDAR market size is expected to reach $4.14 billion by 2026, growing at a CAGR of over 35% during the forecast period, according to report published by Polaris Market Research. The report “Automotive LiDAR Market Size By Type (Solid-State LiDAR, Mechanical LiDAR); By Application (Advanced Driver Assistance Systems – (AEB and ACC), Autonomous Vehicle); By Region & Segments Forecast, 2018 – 2026″ provides a holistic analysis of current and predicted market trends. 

 

Light detection and ranging (LiDAR) is a technology based on remote sensing and it is significantly popular among the automobile manufacturers. It is used by these manufacturers in automation systems of vehicles enabling safety. Moreover, the decrease in manufacturing costs of LiDAR due to surge in automation of vehicles is a major factor contributing towards market growth.

 

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Although ADAS has been available since long in the market, OEMs were reluctant to incorporate these systems due to high costs of sensors. However, adoption of LiDAR in the automotive sector is growing due to rising focus towards safety by regulatory bodies, and customers aimed at safeguarding vehicles and passengers. Due to continued focus of governments across multiple countries on enhancing vehicular safety, many regions have witnessed policies enforcing mandatory deployment of Advanced Driving Assistance Systems (ADAS) in vehicles. For instance, EuroNCAP (New Car Assessment Program) crash testing program has been modified to include assessment of ADAS types which will have an impact on the safety rating of vehicles. Eventually, the penetration and adoption of radars and cameras is expected to increase during the forecast period as OEMs increasingly adopt ADAS with the aim of qualifying for the best ratings in terms of vehicle safety.

 

Within automotive LiDAR there are two main applications – ADAS and Autonomous Vehicle. ADAS application accounts for the majority share in automotive Light detection and ranging market; this is majorly attributed to autonomous/self-driving vehicle not available commercially. This trend is expected to continue during the forecast period with the autonomous vehicle application segment gaining progressively as manufacturers work on that technology.

 

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Geographically, the American regional market accounted for the largest share during 2017. While, the Asia Pacific regional market for automotive LiDAR is expected to witness highest growth during the forecast period. Increasing competition is observed among automotive OEMs for developing fully autonomous vehicles in the market. With these rapid advancements in autonomous vehicle technology, the global automotive light detection and ranging market is expected to register considerable growth by 2026. Other important factors such as development of solid-state LiDAR sensors, and significance of the LiDAR sensors in ADAS are also responsible for the market growth.

 

The major companies operating in the automotive LiDAR sector include established players such as Continental AG, Delphi Technologies, Denso Corporation, First Sensor AG, LeddarTech, Novariant (AgJunction), Quanergy Systems, Inc., Robert Bosch GmbH, Scans LLC, Velodyne LIDAR, Inc.

 

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