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Significant growth predicted for global LiDAR market till 2023

LiDAR Market size is expected to reach USD 1.1 billion by 2023.The industry is characterized by key notable players offering advanced, diverse and cost-effective solutions. Rising urbanization and large scale infrastructural development will contribute to the growth of global LiDAR market size over the forecast timeline.

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MaketStudyReport.com adds a New LiDAR Market Make an Inquiry about this news Research Report for the period of 2016-2023 that shows the growth of the market is rising at a steady CAGR to 2023.

Heavy investments in infrastructural development and strategic alliances will remain the key strategies in the ecosystem. Increasing acceptance in automobile safety application, environmental mapping arenas, rising acceptance in the corridor mapping and civil engineering for monitoring &3D-modeling applications will fuel the LiDAR market share from 2016 to 2023.

Rising adoption of technology in commercial as well as government applications such as railways, forestry and roadways management are among other growth drivers set to fuel growth rates in the coming years.

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The technology has successfully acquired the photogrammetry systems customers due to its subtle operational deliverance and higher accuracy. Rising applications of UAVs in commercial operations linked would increase LiDAR market share.

Lack of awareness and customer education is recognized as a business risk for the industry owing to negligence and loss of potential customers.

Mobile mapping systems have witnessed remarkable developments attributed to surging demand for accurate and high-resolution geospatial data. Introduction of internet mapping has increased the need for geospatial data.

Key insights from the report include:

Mobile LiDAR market share accounted for about 20% of the overall revenue in 2015. Ability of eliminating the need for mobilization costs, collect up to 1,000,000 points per seconds saves time, increases the safety of data by removing the need for traffic diversion and provides safety for project personnel.

Airborne LiDAR market size accounted for about 40% of the revenue in 2015. It offers high accuracy and detailed local elevation data, can cover large area, increasing productivity and reduce the environmental impact.

U.S. LiDAR market size was valued at over USD 85 million in 2015 and would grow at 9.3% by 2023. Increasing adoption of 3D imagery by the U.S.

government and advent of industrial automation would support the industry growth.

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 Key competitors in LiDAR industry include 3D Laser Mapping Ltd., Renishaw, Saab, Leica Geosystems, Aerometric and Faro Technologies. The industry is characterized by mergers and acquisitions to extend their presence across the globe.

Companies support customer relations and sales by offering raw material handling, operator training, service training and automated testing equipment. They can also maintain control over certain key component technologies by creating an internal supply network.

LiDAR market research report includes in-depth coverage of the industry with estimates &forecast in terms of revenue in USD million from 2012 to 2023, for the following segments:

Global LiDAR Market by Product:

Airborne, Terrestrial, Mobile, Short Range

Global LiDAR Market by Component:

GPS, Data storage &management systems, Navigation, Laser Scanners, Others

Global LiDAR Market by Application:

Government, Military &Defense, Civil Engineering, Corridor Mapping

The above information has been provided on a regional and country basis for the following:

North America, U.S., Canada, Europe, Germany, UK, France, Italy, Russia, China, India, Japan, Latin America, Brazil, Mexico, MEA

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