ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has announced the release of a report titled “LiDAR Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”.
Browse Report: http://www.transparencymarketresearch.com/lidar-market.html
This report states that growing at a CAGR of 15.3% from 2014 to 2020, the global LiDAR market will reach US$605.5 million in 2020, growing from US$225 million in 2013. LiDAR technology ensures the direct measurement of underlying terrain and 3D structures with greater accuracy and high resolution.
The global LiDAR market is mainly driven by rising demand for 3D imagery in government, commercial, and consumer applications. LiDAR technology has several advantages over conventional surveying and mapping techniques. The global LiDAR market is segmented on the basis of product type, application, and geography. Based on product type, the two classifications are airborne and terrestrial LiDAR. The advanced technology is applied in various areas like transportation, coastal applications, defense and aerospace, flood mapping, forestry, infrastructure, and others. As per industry estimates, the transmission lines segment is expected to witness robust growth in the forthcoming years.
Geographically, the global LiDAR market is segmented into Asia Pacific, North America, Europe, and Rest of the World. The global LiDAR market is led by North America, owing to greater application of LiDAR technology in defense driven by high government support, high spending on research and development, and innovation.
The second largest market in the global LiDAR market is Europe. The Europe LiDAR market is characterized by a large consumer base. The companies operating in the global LiDAR market mostly focus on innovation based on new product development. Quantum Spatial, Inc., Firmatek Llc, Optech Incorporated, and Mosaic 3d are some of the prominent companies in this market.
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About Transparency Market Research
Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.