Global Lidar Market is expected to reach USD 5,842.37 million by 2024 from USD 1,058.40 million in 2016, at a CAGR of 24.1% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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· By Component (Laser Scanner, Navigation and Positioning Systems, Photodetector Receivers, Others),
· By Product (Aerial Lidar, Ground-Based Lidar, UAV Lidar, Solid-State Lidar),
· By Application (Corridor Mapping, Engineering, Environment, ADAS and Driverless Cars, Exploration, Urban Planning, Cartography, Meteorology, Others),
· By Services (Lidar Data Processing, Aerial Surveying, Asset Management, GIS Services, Ground-Based Surveying, Mapping And Modeling, Others),
· By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)
The major factors driving the growth of this market are rising government initiatives and increasing adoption, increasing use of drones in numerous applications, growing LIDAR application in engineering projects and large-magnitude set and technological advancement.
RISING GOVERNMENT INITIATIVES AND INCREASING ADOPTION
· Government is taking several initiatives for accuracy of data, refresh cycle and interest towards the geographic area coverage in order to avoid the unexpected circumstances such as accidents, agriculture, Precision Forestry, forest Planning and management, forest fire management, tourism and parks management, environmental assessment, flood model, Ecological & Land Classification (ELC), river survey, river modelling, mining, oil and gas exploration, archaeology, light, solar energy planning , cellular network planning, astronomy, urban municipality, airport infrastructure and lots more.
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INCREASING USE OF DRONES IN NUMEROUS APPLICATIONS
· Drones consist of global positioning systems (GPS), sensors, cameras, navigation systems and many more along with varied functions, shapes and sizes.
· These are controlled by the remotes or from special ground cockpits. Therefore drones are used in various applications such as for security, science & research, search and rescue operations, inspection, aerial photography and video, unmanned cargo system, mapping, surveillance of suspicious happening.
GROWING LIDAR APPLICATION IN ENGINEERING PROJECTS AND LARGE-MAGNITUDE SET
· Application of the lidar has been used in most of the engineering projects such as in civil engineering it is used in grading, utilities, drainage analysis, erosion and storm water treatment, roadway design and many more.
· For instance, first it establishes control points on site and temporary benchmarks, secondly by using these benchmarks it perform additional survey for other locations as well in order to obtain the position and elevation.
Some of the major players operating in this market are:-
· Quantum Spatial,
· Faro Technologies,
· Beijing Beike Technology Co., Ltd,
· Leica Geosystems,
· Teledyne Optech Inc.,
· Riegl Laser Measurement Systems Gmbh ,
· Velodyne Lidar, Inc.
· Yellowscan ,
· Geokno India Pvt. Ltd.,
· Trimble Inc.,
· Sick AG,
· Quanergy Systems, Inc.,
· Innoviz Technologies Ltd,
· Innoluce BV,
· Princeton Lightwave Inc.,
· Neptec Technologies
· Among others…
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