Coronavirus’s Impact On LiDAR Market
Transparency Market Research has published a new research report that studies and assesses the structure, scope, dynamics, and components of the global light detection and ranging (LiDAR) market. The 80-page research study is titled “LiDAR Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020” and is available for sale on the company website. According to the report, the global LiDAR market is anticipated to expand at a 15.0% CAGR from 2014 to 2020, growing from a value of US$225 mn in 2013 to US$605.5 mn in 2020.
The global LiDAR market is primarily driven by the host of comparative advantages over conventional mapping technologies, growing demand for 3D imagery in commercial, consumer, and government applications, and the development of unmanned aerial vehicles. However, gaps in software development and lack of standardization of data formats threaten to impede the LiDAR market.The research report reviews the LiDAR market by segmenting it based on three parameters: product type, geography, and application.
On the basis of product type, the LiDAR market is bifurcated into terrestrial LiDAR and airborne LiDAR. Of these, airborne or aerial LiDAR mapping dominated the overall market.On the basis of application, the LiDAR market is segmented into forestry, infrastructure, transmission lines, coastal, transportation, defense and aerospace, flood mapping, and others such as hydrography and mining. Coastal applications dominate the overall LiDAR market owing to increased use of LiDAR in disaster management and control. Transmission lines, on the other hand, make up the fastest growing segment of the LiDAR market, thanks to the growing demand for power utilities.
Request For Covid19 Impact Analysis Across Industries And Markets @https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=2345
Major industry participants in the LiDAR market are 3D Laser Mapping Ltd., Aerometric Inc., Avent Lidar Technology, Airborne Hydrography AB, DigitalWorld Mapping Inc., Firmatek 3D Mapping Solutions LLC, FARO Technology, Inc., Intermap Technologies Corp., Leica Geosystems AG, Mosaic 3D, Optech Incorporated and RIEGL Laser Measurement Systems GmbH among others. The key strategy adopted by majority of these players to strengthen and expand their presence in the global LiDAR market is new product development through technological innovations and product enhancements.
On the basis of geography, the worldwide LiDAR market is divided into North America, Asia Pacific, Europe, and Rest of the World. North America held the largest share of the LiDAR market in 2013, driven by high penetration in defense and military applications as well as increased research and development spending to develop innovative LiDAR technologies. Europe presently follows North America; however, the former is anticipated to surpass the latter during the course of the forecast period owing to presence of major players supporting the growth of the market and catering to the rising demand for the massive consumer base. The Rest of the World region and Asia Pacific are also anticipated to witness considerable growth by 2020.
