Radar & LiDAR Technology for Railways Application Market 2021 by Global Key Players, Types, Applications, Countries, Industry Size and Forecast to 2031
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 extr