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LiDAR Market is Expected to Reach $921.2 Million by 2022 - Allied Market Research

According to a new report by Allied Market Research titled, "World LiDAR Market - Opportunities and Forecast, 2015 - 2022", the world LiDAR market is expected to garner $921.2 million by 2022, growing at a prominent CAGR of 18.5% from 2016 to 2022. Increasing adoption of LiDAR systems in various applications, such as precision farming, media and entertainment, and commercial applications is the major factor driving the market growth.<br><br>The world LiDAR market is categorized based on type, component, application, and end user. Among types, the aerial LiDAR dominated the market with more than 50% share in 2015, and is expected to continue its dominance throughout the forecast period owing to its numerous applications in civil engineering, archaeology and forest land management. From a growth perspective, terrestrial LiDAR segment is projected to grow at the highest CAGR of 23.9% during 2016 - 2022.<br><br>By component, the laser segment dominated the market with around 39% share in 2015 and is expected to maintain its dominance throughout the forecast period due to increasing applications of near-field lasers enabled LiDAR systems in the defense sector.<br><br>Application wise, corridor mapping, and exploration and detection segments collectively accounted for more than 80% share of the overall market value in 2015, with corridor mapping constituting around 50% revenue. For modern age infrastructure planning and disaster management, corridor mapping is performed using LiDAR technology.<br><br>Among end users, the civil engineering segment dominated the market in terms of spending on LiDAR systems, followed by forestry and agriculture segment in 2015. The civil engineering applications significantly drive the market with the usage of LiDAR in infrastructure planning. Expenditure on LiDAR systems by the transportation sector is expected to grow at the highest CAGR, primarily for vehicle monitoring purposes and emerging transportation applications such as driverless cars.<br><br>In the world LiDAR market, North America represented more than 45% of the overall market revenue, followed by Europe, with around 33% revenue share in 2015. Growing industrial automation and technological advancements in metrological applications are projected to accelerate the adoption of LiDAR systems in the North American region. In addition, Asia-pacific is expected to be the fastest growing region, with the highest CAGR of 25.0%, owing to increasing awareness among end-user verticals regarding benefits of these systems.<br><br>Key findings of the study:<br><br>The world LiDAR market is likely to grow at a double-digit rate in the future owing to increasing demand for aerial LiDAR from the various end user sectors.<br>The aerial segment accounts for a major share in this market.<br>The application of LiDAR in the transportation sector is anticipated to expand at the highest CAGR of 23.5% from 2016 to 2022.<br>North America is the highest revenue-generating region in this market.<br>The major players in this market include Airborne Hydrography AB, Leosphere SaS, Faro Technologies Inc., Leica Geosystems Inc., 3D Laser Mapping Inc., Firmatek LLC, RIEGL Laser Measurement Systems GmbH, Aerometric Inc., Mira Solutions Inc., Optech Inc., and Quanergy Systems, Inc. These players consistently invest in R&D to come up with enhanced products and solutions. In addition, strategic mergers and acquisitions are some of the other major strategies followed by prominent players to expand their market presence and gain a competitive edge.

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LiDAR Market is Expected to Reach $921.2 Million by 2022 - Allied Market Research

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  1. Global LIDAR Market Published Date: April 2016 No. of pages : 112

  2. Introduction to LiDAR Market Introduction of light detection and ranging (LiDAR) systems has enabled the examination, detection, and mapping of objects easier than conventional methods. These systems are used over conventional surveying methods because of their ability to provide highly accurate data and 3D images in a shorter time. Improved automated processing ability of LiDAR systems in terms of image resolution and data processing capabilities over other technologies are the major factors that drive the global market. Other factors that supplement the growth of the LiDAR market as a whole include rising demand of 3D imaging technology across various application areas and the increasing adoption of aerial LiDAR systems to explore and detect places and obtain historic details. On the other hand, low awareness about the benefits of LiDAR systems and the use of expensive components in these systems namely, laser scanner, navigation system, and high-resolution 3D cameras collectively increase the cost of LiDAR systems. These factors cause less adoption of LiDAR technology and restrict the growth of this market. Players in the market adopt product launch and collaborations as their key strategies to meet the customer demands and increase their customer base. Partnerships are likely to help the players set a common technology platform and share the technological requirement. This would ultimately help the market players to enhance their product portfolio with less investment and increase their market share across various regions. The cost cutting in operations is expected to lead the manufacturers to invest into advertisement activities and increase the awareness about the LiDAR systems across diverse industry verticals and geographic regions. In October 2014, Phoenix Aerial Systems collaborated with Pulse Aerospace to launch a single-rotor unmanned aerial system for Ranger LiDAR systemThe Vapor 55. Eventually, the rise in the use of LiDAR systems across various industries is likely to supplement the growth of the world LiDAR market.

  3. Introduction Scope of the Report Key Benefits Key Audiences

  4. Key Benefits  The study highlights the world LiDAR market with current market situation and forecasts the adoption of LiDAR technology across varied industry verticals to analyze the prominent investment pockets in the market.  Market analysis unveils the dominant aspects namely, improved automated processing of data in LiDAR systems, performance of LiDAR systems as compared to other technologies, and the rising demand of 3D imaging, which drives this market.  Trends of the global market are outlined to determine the overall market potential and single out market trends to gain a stronger foothold.  Microscopic analysis of segments is conducted to gauge the potential of the market.  Porters five forces model helps in analyzing the potential of buyers & suppliers with a competitive sketch of the market, which helps market players in making better informed decisions.  The value chain analysis of the industry provides a clear view of key intermediaries involved and elaborates their roles and value addition at every stage.

  5. Table of Contents 1. INTRODUCTION 2. EXECUTIVE SUMMARY 3. MARKET OVERVIEW 4. WORLD LIDAR MARKET BY PRODUCT TYPE 5. WORLD LIDAR MARKET BY COMPONENTS 6. WORLD LIDAR MARKET BY APPLICATION 7. WORLD LIDAR MARKET BY END USER 8. WORLD LIDAR MARKET BY GEOGRAPHY 9. COMPANY PROFILES

  6. LiDAR MARKET OVERVIEW 1. Market definition and scope 2. Key findings 3. Value chain analysis 4. Porters five forces analysis 5. Drivers 6. Restraints 7. Opportunities

  7. LiDAR MARKET BY PRODUCTS TYPES Aerial Terrestrial Mobile WORLD LIDAR MARKET BY PRODUCT TYPE Price-volume analysis Short-range

  8. WORLD LIDAR MARKET BY COMPONENTS Lasers Micro-electro mechanical system (MEMS) GPS/GNSS receiver WORLD LIDAR MARKET BY COMPONENTS Inertial navigation system Camera

  9. WORLD LIDAR MARKET BY APPLICATION WORLD LIDAR MARKET BY APPLICATION Corridor mapping Exploration and detection Seismology Others

  10. WORLD LIDAR MARKET BY END USER Defense and aerospace Civil engineering Archaeology WORLD LIDAR MARKET BY END USER Forestry and agriculture Mining industry Transportation

  11. LiDAR MARKET, BY GEOGRAPHY North America, Europe, Asia Pacific, LAMEA

  12. Company Profiles • Overview of LIDAR manufacturers & products • Product portfolio comparison • 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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