(PRWEB) March 07, 2014
According to a new market research report "LiDAR Market by Components (INS, Laser, GPS/GNSS, Camera, MEMS), Product Types (Airborne, Mobile, Terrestrial), Applications (Corridor Mapping, Forestry, Mining, Topographic Surveying, Volumetric Mapping) - Global Forecasts and Analysis 2013 – 2018", the market is expected to grow up to $551.26 million at a CAGR of 16.64%, from 2013 to 2018. The data mentioned is for the dedicated LiDAR systems only.
Browse 80 market data tables and 73 figures spread through 278 pages and in-depth TOC on "LiDAR Market by Components (INS, Laser, GPS/GNSS, Camera, MEMS), Product Types (Airborne, Mobile, Terrestrial), Applications (Corridor Mapping, Forestry, Mining, Topographic Surveying, Volumetric Mapping) - Global Analysis and Forecast 2013 - 2018"
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Although LiDAR was developed in early 1960s, it was just used for the military and government applications. However, due to the technological developments and reduced cost of LiDARs, it is heavily penetrating into the commercial and industrial sectors. The market research report “Global LiDAR market - Forecast & Analysis (2013 - 2018)” covers both the government/military and the commercial applications of light detection and ranging systems. Few of the major applications currently harnessing light detection and ranging technology are: corridor mapping, forestry, mining, topographic surveying, and volumetric mapping. The extensive research study conducted in this market identified that civil engineering and planning application is one of the top revenue grossing applications for light detection and ranging systems. However, the highest growth rate is expected for the corridor mapping application, which is estimated to grow at a CAGR of more than 20% annually from 2013 to 2018.
The total market which is currently valued at $218.87 million is estimated to grow at an excess rate of 15% annually. The total market is divided among various product types such as: airborne, terrestrial, mobile, and short range. Currently, airborne LiDAR is the largest contributor for the industry. One of the reasons for the highest share of airborne LiDAR is its high average selling price. Also, as compared to other types, airborne LiDAR market is mature and, reliable. Thus, it is preferred by the users for whom the budget is not a constraint. However, airborne LiDAR market also has the lowest CAGR among all the product types. This indicates the shift in trend in the light detection and ranging market. Due to innovations in terrestrial and mobile light detection and ranging systems, the cost-benefit ratio for these LiDAR types is expected to surpass that of airborne light detection and ranging system. It can be said that the terrestrial and mobile light detection and ranging systems are disrupting the airborne LiDAR market to some extent.
Geographical split for each and every type is included in the report. The report describes the overall market into four major geographical segments, namely, North America, Europe, APAC, and RoW. North America and Europe are the market leaders in the overall LiDAR market followed by APAC. Numerous benefits and wide range of applications of LiDAR are encouraging RoW regions like Middle East and Africa to deploy this technology.
Major companies covered in the report are: Airborne imaging, Inc. (U.S.), Leica Geosystems (U.S.), Optech Incorporated (Canada), Trimble Navigation Limited (U.S.), RIEGL Laser Measurement Systems GmbH (Austria), and Renishaw Plc (U.K.).
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