DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global LIDAR market - By Product, Service and Software, Application, Regions - Market Size, Demand Forecasts, Industry Trends and Updates (2016-2022)" report to their offering.
The global LIDAR market was USD 389.35 Million in 2016 and is estimated to reach USD 943.23 Million, at a CAGR of 15.89%, by 2022.
The LIDAR helps in forestry management and planning, flood modelling, pollution modelling, transport planning, coastline planning, urban management, oil and gas exploration and imaging among a multitude of usages.
North America held the largest market share in the year 2016. This was due to the increased adoption of 3D imagery services by the US government. Europe closely followed by the North American market due to technological advancements in areas such as corridor mapping, military, transportation etc. This trend is expected to remain the same in the forecasted period with APAC leading the market growth rate due to heavy spending in military and defense.
Increasing utility of direct visualization and automated door modelling are some of the major drivers driving the market. Increased speed of acquisition, improved handling of sensing devices, and greater accuracy are some of the key drivers for the lower cost mapping systems. Also, growing environmental concerns and heightened homeland security requirements are some of the other drivers. Escalating needs of imagery and critical mapping especially in the government and defense sectors is expected to boost the growth. Also since transportation, defense and the military sectors which use the technology at the core are expected to witness a high growth thus benefitting the industry.
Major restraint for the growth of the market is the high cost and expenses in the survey application. For many years now, LIDAR is perceived as a high cost device by the customers, though its prices have reduced significantly. Also, the lack of knowledge among customers because of negligence is another hindrance to the market.
Key Topics Covered:
1. Research Methodology
2. Market Overview
3. Market Dynamics
4. Global LIDAR Segmentation, Forecasts and Trends - by Revenue
5. By Product
6. By Service and Software
7. By Application
8. By Region
9. Vendor Market Share Analysis
10. Company Profiles
11. Industry Structure
- Faro Technology
- Geokno India Pvt. Ltd.
- Leica Geosystems AG
- Michael Baker International
- Optech Inc.
- Quantum Spatial
- Riegl Laser Measurement Systems GmbH
- Sick AG
- Topcon Positioning Systems, Inc.
- Trimble Navigation Limited
- Velodyne LiDAR, Inc.
For more information about this report visit http://www.researchandmarkets.com/research/f2q4z5/global_lidar