LiDAR Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020
NEW YORK, Oct. 16, 2014 —Light Detection and Ranging (LiDAR) is an optical remote sensing technology that use laser light to examine surface on the earth to find variable distances on the earth. LiDAR is comparable to radar in certain aspects. However, LiDAR uses waves of shorter wavelengths unlike radar, which uses radio waves for measuring targets. The LiDAR technology uses waves typically in the visible, ultraviolet and infrared range. This technology enables direct measurement of 3D structures and underlying terrain with high resolution and high data accuracy. The capability of LiDAR equipments to achieve high resolution makes them superior to other traditional optical instruments used for measuring heights. The LiDAR market can be segmented based on types into airborne and terrestrial LiDAR and based on applications into coastal, forestry, transportation, infrastructure, defense and aerospace, transmission lines and flood mapping among others
Escalating demand for 3D imagery in consumer, commercial and government applications is one of the major factors driving the global LiDAR market. The demand for LiDAR technology is increasing in these application segments in line with an increase in the demand for 3D scanning and 3D imagery. The adoption of LiDAR technology is slowly penetrating in various government sectors such as roadways, railways, forestry management among others. Thus, huge demand from government sectors in different countries is also supporting the LiDAR market. Further, LiDAR is superior to photogrammetry in terms of accuracy and speed and thus, LiDAR has vastly acquired consumers of photogrammetry in the recent years. However, the LiDAR market faces challenge related to the complexity in interpreting the output data, due to lack of data set standardization.
Geographically, the LiDAR market is dominated by North America owing to high adoption of advanced 3D imagery technologies by the U.S. government. Government sector is also the major customer of LiDAR and therefore high involvement of government positively supports the growth of global LiDAR market. Europe follows North America with a minimal difference in the market share. A large number of key players are based in Europe and they are involved in making innovations to meet the requirements of consumers in different applications.
This report has been segmented by type, application and by geography. It also includes the drivers, restraints and opportunities (DROs), Porter’s five forces analysis and value chain of the global LiDAR market. The study highlights current market trends and provides the forecast from 2014 to 2020. We have also covered the current market scenario for LiDAR and highlighted its future trends that will impact demand.
The report also analyzes macro economic factors influencing and inhibiting the growth of global LiDAR market. Porter’s five forces analysis offers insights on market competition throughout its value chain. In addition, the market attractiveness analysis provided in the report highlights key investing areas in this industry. The report will help manufacturers, suppliers and distributors to understand the present and future trends in this market and formulate their strategies accordingly.
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