LIDAR Market revenue will reach $1.5 billion by 2024

As per the report “LIDAR Market by Product (Terrestrial/Static, Aerial, Mobile, Short-range), and By Application (Corridor mapping, Seismology), Industry Trends, Estimation & Forecast, 2016-2024”, the global LIDAR market was valued at $332.2 million in 2016, and is projected to reach $1.4 billion by 2024, having a CAGR of 21.4 % from 2017 to 2024. In 2016, Aerial LIDAR technology lead the market garnering a revenue of $182.5 million and growing with the highest growth rate, having a CAGR of 17.4% during the forecast period. Among major regions, North America leads the market having the highest market share of $154.8 million; however, the highest growth rate would be experienced by Asia Pacific growing with a rate of 28.2 % during the forecast period.

Developed regions such as North America and Europe are holding the largest market share of the LIDAR system market. The increasing demand of improvised automation and enhancement of metrological devices will open growth gateways for the LIDAR technology market in the emerging countries.”

Aerial LIDAR lead the market holding more than 50% market share in 2016

The Aerial LIDAR segment was the largest application segment of the LIDAR market in 2016. Development of automation industry and requirement of improvised surveying technology is the key factor which is anticipated to drive the growth of the LIDAR market. Developed regions like North America are the major consumers of the Aerial LIDAR technology. Moreover, increase in aerial LIDAR applications in various industries, apart from traditional military applications, has increased the demand for aerial LIDAR industry. This method provides accurate and precise mapping of the object and is widely being used for topographic surveys in areas of vegetation. With the latest advancements in LiDAR sensors, the accuracy of aerial LiDAR systems has enhanced.

Laser components generated the highest revenue of $136.6 million in 2016; the highest growth was exhibited by Camera component having the CAGR of 27.1 % during the forecast period

The LIDAR market was segmented as Camera, Laser, Integration navigation system, GPS and others. Among them, the laser component lead the market as a result of its extensive use in the LIDAR systems for emitting the light in the form of a pulsed laser to measure various distances. However, the Camera component will be having the highest growth rate due to a hike in the demand of advanced 3D imaging technology. LiDAR based near-infrared wavelengths are less expensive but they are unable to penetrate denser object such as water. High frequency green lasers penetrate water surface, which are used for mapping ocean bottom.

 LIDAR Market Key Insights

  • Asia Pacific region is expected to have the fastest growth with a CAGR of 28.2 % over the forecast   period. The region generated the revenue of $45.6 million in 2016.
  • North America holds the major segment of the LIDAR market.
  • Terrestrial LIDAR type is expected to witness the highest growth having a CAGR of 26.8% over the forecast period (2017-2024)
  • Laser component holds the largest share of LIDAR market. It accumulated the revenue of $136.6 million in 2016

The report features a competitive scenario of the global LIDAR market, and provides comprehensive analysis of key growth strategies adopted by major players. Some of the key market players operating in the industry are Airborne Hydrography AB, Leosphere SaS, Faro Technologies Inc., Leica Geosystems Inc. (Hexagon), 3D Laser Mapping Inc., Firmatek LLC, RIEGL Laser Measurement Systems GmbH, Aerometric Inc., Mira Solutions Inc., Optech Inc. (Teledyne Technologies), Quanergy Systems, Inc.


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LIDAR Market revenue will reach $1.5 billion by 2024, says Esticast Research & Consulting

As per the report “LIDAR Market by Product (Terrestrial/Static, Aerial, Mobile, Short-range), and By Application (Corridor mapping, Seismology), Industry Trends, Estimation & Forecast, 2016-2024”, the global LIDAR market was valued at $332.2 million in 2016, and is projected to reach $1.4 billion by 2024, having a CAGR of 21.4 % from 2017 to 2024. In 2016, Aerial LIDAR technology lead the market garnering a revenue of $182.5 million and growing with the highest growth rate, having a CAGR of 17.4% during the forecast period. Among major regions, North America leads the market having the highest market share of $154.8 million; however, the highest growth rate would be experienced by Asia Pacific growing with a rate of 28.2 % during the forecast period.

Developed regions such as North America and Europe are holding the largest market share of the LIDAR system market. The increasing demand of improvised automation and enhancement of metrological devices will open growth gateways for the LIDAR technology market in the emerging countries.”

Aerial LIDAR lead the market holding more than 50% market share in 2016

The Aerial LIDAR segment was the largest application segment of the LIDAR market in 2016. Development of automation industry and requirement of improvised surveying technology is the key factor which is anticipated to drive the growth of the LIDAR market. Developed regions like North America are the major consumers of the Aerial LIDAR technology. Moreover, increase in aerial LIDAR applications in various industries, apart from traditional military applications, has increased the demand for aerial LIDAR industry. This method provides accurate and precise mapping of the object and is widely being used for topographic surveys in areas of vegetation. With the latest advancements in LiDAR sensors, the accuracy of aerial LiDAR systems has enhanced.

Laser components generated the highest revenue of $136.6 million in 2016; the highest growth was exhibited by Camera component having the CAGR of 27.1 % during the forecast period

The LIDAR market was segmented as Camera, Laser, Integration navigation system, GPS and others. Among them, the laser component lead the market as a result of its extensive use in the LIDAR systems for emitting the light in the form of a pulsed laser to measure various distances. However, the Camera component will be having the highest growth rate due to a hike in the demand of advanced 3D imaging technology. LiDAR based near-infrared wavelengths are less expensive but they are unable to penetrate denser object such as water. High frequency green lasers penetrate water surface, which are used for mapping ocean bottom.

North America was the highest revenue-generating region, garnering for over 45% of the total LIDAR market share in 2016

In terms of Geography, North America is the leading market. North America is a technologically superior market in the world.

                            Global LIDAR Market By Geography

Global LIDAR Market BY Geography

IT services and IT-based manufacturing, applications in civil engineering, rise of smart automation industry and need of LIDAR datasets to create innovative software are the key factors, which are responsible for the immense use of LIDAR technology in the North American region.

 LIDAR Market Key Insights

•Asia Pacific region is expected to have the fastest growth with a CAGR of 28.2 % over the forecast   period. The region generated the revenue of $45.6 million in 2016.

•North America holds the major segment of the LIDAR market.

•Terrestrial LIDAR type is expected to witness the highest growth having a CAGR of 26.8% over the forecast period (2017-2024)

•Laser component holds the largest share of LIDAR market. It accumulated the revenue of $136.6 million in 2016

The report features a competitive scenario of the global LIDAR market, and provides comprehensive analysis of key growth strategies adopted by major players. Some of the key market players operating in the industry are Airborne Hydrography AB, Leosphere SaS, Faro Technologies Inc., Leica Geosystems Inc. (Hexagon), 3D Laser Mapping Inc., Firmatek LLC, RIEGL Laser Measurement Systems GmbH, Aerometric Inc., Mira Solutions Inc., Optech Inc. (Teledyne Technologies), Quanergy Systems, Inc.

LiDAR Market Is Expected To Reach USD 1.34 Billion By 2025: Grand View Research, Inc.

The global LiDAR market is expected to reach USD 1.34 billion by 2024, according to a new report by Grand View Research, Inc. The surging acceptance in environmental mapping and automobile safety application arenas is expected to boost the market growth. The increasing acceptance in the construction and architectural segment for monitoring & 3D-modeling applications is further anticipated to bolster the market growth.

The market can be categorized on the basis of application types into corridor mapping, engineering, environment, exploration, Advanced Driver Assistance Systems (ADAS) & others. The ADAS application segment is expected to grow at a remarkable pace owing to the surging incorporation in automotive safety and forward-collision avoidance systems; for instance, in Automatic Emergency Braking (AEB) systems to reduce the number of car crashes.

In July 2016, Velodyne LiDAR (U.S.) announced a partnership agreement with Dibotics (France), a Paris-based pioneer in the infrastructure-less and GPS-denied navigation. Dibotics would be providing consulting services to Velodyne customers in the 3D SLAM software segment, where the company would make contributions to the Dibotics platform in augmenting its technology deployed with Velodyne’s 3D LiDAR sensors.

Further key findings from the report suggest:

  • The global LiDAR market is estimated to grow significantly over the forecast period due to automation in numerous industries, leading to reduced human efforts and increased efficiency. The technological superiority of LiDAR and several engineering projects of the large magnitude are estimated to trigger the demand by 2024.
  • Airborne systems are expected to remain the dominant product segment over the forecast period. The segment is anticipated to gain prominence over the forecast period on account of the surging adoption of aerial mapping devices. Mobile terrestrial scanning is a frequently preferred survey method in monitoring, conservative topography, and geospatial mapping. UAV systems, also popularly known as drone mappers, are a contemporary mapping technique that incorporates LiDAR devices mounted on a drone to conduct scanning & associated mapping operations.
  • North America is expected to emerge as one of the leading regional markets owing to the rising R&D spending coupled with high adoption in the automotive sector and environmental scanning & modeling operations. Asia Pacific is expected to witness a substantial growth over the forecast period. The surge in the demand across the product segments is expected to spur the market demand.
  • The key industry participants include Velodyne LiDAR, Inc., Leica Geosystems Holdings AG, Faro Technologies Inc., Trimble Navigation Limited, and RIEGL USA Inc. The current market environment is witnessing an intense competition between the key players for achieving the market domination via product differentiation and enhancement of quality.

Grand View Research has segmented the global LiDAR market on the basis of product type, application type, component type, and regions:

LiDAR Product Type Outlook (Revenue, USD Million, 2014 – 2024)

  • Airborne
  • Terrestrial
  • Mobile & UAV

LiDAR Application Type Outlook (Revenue, USD Million, 2014 – 2024)

  • Corridor Mapping
  • Engineering
  • Environment
  • Exploration
  • Advanced Driver Assistance Systems(ADAS)
  • Others

LiDAR Component Type Outlook (Revenue, USD Million, 2014 – 2024)

  • Laser Scanner
  • GPS
  • Navigation
  • Others

LiDAR Regional Outlook (Revenue, USD Million, 2014 – 2024)

  • North America
    • S.
    • Canada
  • Europe
    • Germany
    • UK
  • Asia Pacific
    • China
    • India
    • Japan
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information visit – http://www.grandviewresearch.com/

 

Dhanashree is a Computer Engineer by education and a technology enthusiast by passion. She has a stint of experience in Blogging and SEO and loves to write.

Global LiDAR Market Size Projected Grow At CAGR Of 12% Till 2024

LiDAR Market

Global LiDAR Market was worth USD 260 million in 2015. It is estimated to grow at a CAGR of 12% from 2016 to 2024 (forecast period). Rising demand for 3D imaging technology in a variety of applications is an important market driver. The adoption of aerial systems for detection and exploration of historic details is increasing. Vendors are in the process of introducing several novel products in this space. These factors are propelling market growth.

However, LiDAR system’s components like laser scanner, navigation systems, high-resolution 3D cameras, etc. are expensive. This coupled with poor consumer awareness may hamper its future prospects.

The market is segmented as per applications, products, components, and regions. Applications are divided into civil engineering, government, topographical surveys, corridor mapping, and military & defense. Civil engineering, which includes areas like power line deployments and flooded mapping, would grow at a CAGR of 17% over the forecast period.

Topological surveys, and military & defense are projected to grow at a steady rate till 2024. Government applications could increase owing to technological developments in forestry management, railways, roadways, etc.

Products comprise short range, airborne, mobile, and terrestrial. Terrestrial products held over 30% of the total revenues in 2015. Their advantages include remote acquisition and measurement, and high point density data. Mobile systems are foreseen to grow at a CAGR of over 24% in the next eight years. This attributes to surging demand for accurate, high-resolution 3D geospatial data.

Components include   laser scanners, GPS (Global Positioning System), data storage & management, navigation/IMU (Inertial Measurement Unit), and others. ‘Others’ consist of MEMS (Micro-Electro-Mechanical Systems) mirror and cameras. IMU is expected to grow at a 23% CAGR through the forecast period.

North America, Europe, Asia Pacific, Latin America, and MEA (the Middle East & Africa) constitute the regional segments of the LiDAR market. North America is poised to dominate by 2024. It could account for over 39% of the market revenues that year. This is credited to widespread adoption of advanced 3D imaging technologies by the U.S. government. Asia Pacific should grow owing to escalating spending on military & defense.

Key players in the global market include Aerometric Quantum Spatial, Airborne Hydrography AB, Reigl Laser Measurement System GmBH, Michael Baker International, Lecia Geosystems AG. They focus on collaborations, acquisitions, and product launches to gain market share.

 

Susan Hill is a Digital Marketer by professional and she has a great experience in blogging, content writing and SEO.

LiDAR Market Size and Share, 2024

Global LiDAR Market was worth USD 260 million in 2015. It is estimated to grow at a CAGR of 12% from 2016 to 2024 (forecast period). Rising demand for 3D imaging technology in a variety of applications is an important market driver. The adoption of aerial systems for detection and exploration of historic details is increasing. Vendors are in the process of introducing several novel products in this space. These factors are propelling market growth.

However, LiDAR system’s components like laser scanner, navigation systems, high-resolution 3D cameras, etc. are expensive. This coupled with poor consumer awareness may hamper its future prospects.

The market is segmented as per applications, products, components, and regions. Applications are divided into civil engineering, government, topographical surveys, corridor mapping, and military & defense. Civil engineering, which includes areas like power line deployments and flooded mapping, would grow at a CAGR of 17% over the forecast period.

Topological surveys, and military & defense are projected to grow at a steady rate till 2024. Government applications could increase owing to technological developments in forestry management, railways, roadways, etc.

Products comprise short range, airborne, mobile, and terrestrial. Terrestrial products held over 30% of the total revenues in 2015. Their advantages include remote acquisition and measurement, and high point density data. Mobile systems are foreseen to grow at a CAGR of over 24% in the next eight years. This attributes to surging demand for accurate, high-resolution 3D geospatial data.

Components include   laser scanners, GPS (Global Positioning System), data storage & management, navigation/IMU (Inertial Measurement Unit), and others. ‘Others’ consist of MEMS (Micro-Electro-Mechanical Systems) mirror and cameras. IMU is expected to grow at a 23% CAGR through the forecast period.

North America, Europe, Asia Pacific, Latin America, and MEA (the Middle East & Africa) constitute the regional segments of the LiDAR market. North America is poised to dominate by 2024. It could account for over 39% of the market revenues that year. This is credited to widespread adoption of advanced 3D imaging technologies by the U.S. government. Asia Pacific should grow owing to escalating spending on military & defense.

Key players in the global market include Aerometric Quantum Spatial, Airborne Hydrography AB, Reigl Laser Measurement System GmBH, Michael Baker International, Lecia Geosystems AG. They focus on collaborations, acquisitions, and product launches to gain market share.

 

Sara James is Market Research Analyst, Conducting in-depth data analyses using traditional and advanced methods Build a detailed database for the understanding of the target market and industry.

LiDAR Market Projected to Grow at CAGR Over 12% Till 2024

Global LiDAR Market was worth USD 260 million in 2015. It is estimated to grow at a CAGR of 12% from 2016 to 2024 (forecast period). Rising demand for 3D imaging technology in a variety of applications is an important market driver. The adoption of aerial systems for detection and exploration of historic details is increasing. Vendors are in the process of introducing several novel products in this space. These factors are propelling market growth.

However, LiDAR system’s components like laser scanner, navigation systems, high-resolution 3D cameras, etc. are expensive. This coupled with poor consumer awareness may hamper its future prospects.

The market is segmented as per applications, products, components, and regions. Applications are divided into civil engineering, government, topographical surveys, corridor mapping, and military & defense. Civil engineering, which includes areas like power line deployments and flooded mapping, would grow at a CAGR of 17% over the forecast period.

Topological surveys, and military & defense are projected to grow at a steady rate till 2024. Government applications could increase owing to technological developments in forestry management, railways, roadways, etc.

Products comprise short range, airborne, mobile, and terrestrial. Terrestrial products held over 30% of the total revenues in 2015. Their advantages include remote acquisition and measurement, and high point density data. Mobile systems are foreseen to grow at a CAGR of over 24% in the next eight years. This attributes to surging demand for accurate, high-resolution 3D geospatial data.

Components include   laser scanners, GPS (Global Positioning System), data storage & management, navigation/IMU (Inertial Measurement Unit), and others. ‘Others’ consist of MEMS (Micro-Electro-Mechanical Systems) mirror and cameras. IMU is expected to grow at a 23% CAGR through the forecast period.

North America, Europe, Asia Pacific, Latin America, and MEA (the Middle East & Africa) constitute the regional segments of the LiDAR market. North America is poised to dominate by 2024. It could account for over 39% of the market revenues that year. This is credited to widespread adoption of advanced 3D imaging technologies by the U.S. government. Asia Pacific should grow owing to escalating spending on military & defense.

Key players in the global market include Aerometric Quantum Spatial, Airborne Hydrography AB, Reigl Laser Measurement System GmBH, Michael Baker International, Lecia Geosystems AG. They focus on collaborations, acquisitions, and product launches to gain market share.

Gomez Robyn is Market Research Analyst, Conducting in-depth data analyses using traditional and advanced methods Build a detailed database for the understanding of the target market and industry.