LiDAR Market worth $1 Bn by 2020
- According to a New Study on ASDReports
According to a new market research report, now available on ASDReports, "LiDAR Market by Product (Airborne, Ground-Based), Component (Laser Scanner, GPS, IMU, Others), Application (Corridor Mapping, Engineering, Environment, ADAS, Urban Planning, Exploration, Meteorology, and Others), & Geography - Global Forecast to 2020", the LiDAR market is expected to rise to more than $1 billion by 2020, growing at a CAGR of 16.32% between 2014 and 2020.
The LiDAR market is expected to witness a high-growth phase from its traditional applications like corridor mapping and cartography as well as emerging applications like urban planning and advanced driver assistance systems (ADAS). Aerial surveying is set to receive a boost with the development of the Geiger-mode LiDAR technology which enables high-resolution data collection even from higher elevations. At the same time, mobile LiDAR systems are becoming more compact and affordable, especially in the automotive sector, with the introduction of Velodyne LiDAR’s “puck” device. These recent breakthroughs are expected to not only drive the LiDAR market in the coming years but also lead to introduce new market segments.
LiDAR Market - Global Forecast to 2020
In the report, the LiDAR market is segmented by product, component, application, and geography covering all the existing and emerging technologies in this market. The product types of LiDAR include airborne and ground-based systems. Airborne systems are further segmented into topographic and bathymetric systems, whereas ground-based systems are segmented into mobile and static or stationary systems. The report provides the market analysis for the primary components of LiDAR, namely, laser scanners, global positioning systems (GPS), inertial measurement unit (IMU), and other components. This study also covers all the major applications of LiDAR, such as, corridor mapping, engineering, environment, advanced driver assistance systems (ADAS), exploration, urban planning, meteorology, and cartography among others with qualitative as well as quantitative industry insights.
One of the objectives of the report was to analyze the market trends for each of the LiDAR market segments and their respective growth rates. Apart from the market segmentation, the report also covers in-depth analyses such as Porter’s five forces analysis, value chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges for the LiDAR market.
The market size for the LiDAR market is included in the report for four geographical regions, namely, the Americas, Europe, Asia-Pacific, and Rest of the World (RoW). The Americas is estimated to account for a major share in this market, whereas the Asia-Pacific region is expected to witness the fastest growth during the forecast period.
In the LiDAR market, the corridor mapping application has captured the majority of the market share; however, the ADAS and meteorology are the fastest-growing applications during the forecast period. Some of the major players in this market are Optech, Inc. (Canada), Leica Geosystems (Switzerland), Riegl Laser Measurement Systems GmbH (Austria), Trimble Navigation, Ltd. (U.S.), and Faro Technologies, Inc. (U.S.).
Source : ASDReports - Market Research - view original press release