LiDAR Market By Type, Component, Application, and End User : Global Opportunity Analysis and Industry Forecast, 2020-2027

LiDAR Market By Type, Component, Application, and End User : Global Opportunity Analysis and Industry Forecast, 2020-2027

  • April 2020 •
  • 310 pages •
  • Report ID: 5916583 •
  • Format: PDF
LiDAR Market By Type (Terrestrial, Aerial, Mobile, and Short Range), Component (LASER, Inertial Navigation System, Camera, GPS GNSS Receiver, and MEMS), Application (Corridor Mapping, Seismology, Exploration & Detection, and Others), and End User (Defense & Aerospace, Civil Engineering, Archaeology, Forestry and Agriculture, Mining, and Transportation): Global Opportunity Analysis and Industry Forecast, 2020-2027

The global LiDAR market possesses a high growth potential, owing to the increase in demand in 3D imaging and newer applications. LiDAR is an emerging technology that helps to capture high-definition 3D data of geospatial surfaces. Innovations in the laser technology help to bring price corrections in LiDAR products. Simultaneously, changes in demands and preferences of the urban population unveil newer LiDAR applications apart from conventional military applications. The sophistication of 3D imaging technology leads to increased corridor mapping activities by the LiDAR systems.
However, automobile and Internet of Things (IoT) emerge as lucrative areas for investments. Driverless cars are the strategically addressed application by some of the tech-leaders, which depend on LiDAR technology. With the launch of Google cars, Apple initiated its project of developing automated cars. Such projects are expected to generate additional demand for LiDAR devices after their commercial success. Another important application that is projected to drive the LiDAR market growth is smart appliances in smart homes or offices.
The key players in the LiDAR market that are analyzed in the report are Velodyne, Airborne Hydrography AB, Leosphere SAS, Faro Technologies Inc., Leica Geosystems AG, GeoSLAM Ltd. (3D Laser Mapping), Firmatek, LLC, RIEGL Laser Measurement Systems GmbH, Mira Solutions, Inc., and Aerometric Surveys. These key players have adopted various strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to increase their market penetration and strengthen their position in the industry.