Global "LiDAR
Market" 2024 Industry
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"LiDAR market was
valued at USD 309.8 million in 2015"
The global LiDAR Market
size is estimated to reach USD 1.34 billion by 2024. LiDAR market covers key
segments such as terrestrial, airborne and mobile & UAV LiDAR systems. It
is a surveying method that measures the distance with help of laser light and
sensors that creates 3D representation of target. Airborne systems dominated in
market share and are predicted to grow in forecast period. The advantages such
as high accuracy and detailed information of Airborne system has increased
their use over photogrammetry. The systems delivers large area mapping in short
time and are efficient.
LiDAR is used in
high-resolution maps the technology is also used in navigation and control of
autonomous cars. The vertical integration in LiDAR market has various
advantages and adds significant value to supply chain operators. Light
Detection and Ranging systems have made mapping of objects, detection, and
examination easier than photogrammetry technique. The Chinese firm Nova
Workvision Digital Technology Co. Ltd. Provides outsourcing service along with
mapping products such as Digital Terrain model (DTM), Digital surface model
(DSM), and Digital elevation model (DEM).
"The airborne systems
market is expected to grow at a CAGR of over 13.6% from 2016 to 2024"
Airborne systems uses laser
light generate a 3D representation of target landscape. LiDAR systems provide a
precise data points in short time for creating digital elevation models and are
anticipated to replace the present photogrammetry mapping technique due to
their high ability of 3D scanning of images in short time.
Government initiatives,
large scale engineering infrastructure projects, increasing urbanization and
improved project efficiency are vital factors that will have a positive impact
on the market in forecast period.
LiDAR is used for
atmospheric research and meteorology and the LiDAR instruments also have
applications in aircraft, satellites with main purpose of surveying and
mapping. The mobile system collects 3D point cloud data for creating map.
Mobile and UAV systems will have great opportunities in emerging Economies and
will drive the market worldwide over forecast period.
"The corridor mapping
application segment accounted for over 37.99% of the global market in
2015"
LiDAR market is segmented
based on application that includes Engineering environment, Advanced Driver
Assistance (ADAS), corridor mapping and others. Among these segments the
corridor mapping is expected to dominate with over 37.99% of industry share in
2015.
A corridor may be highway
passage, pipeline inspection, and railway track or power line. The mapping of
corridor means collecting accurate data with help of airborne and terrestrial
methods.
The LiDAR sensor is bounded
to helicopters that fly at lower altitude and scans corridor and collects
accurate information. The data collected is beneficial as it can be used in
planning of work to be done, monitoring purpose and repair & deflections of
areas.
By 2024, he ADAS
application is expected to gain prominence because of its application in
automotive safety such as Automated Emergency Braking (AEB) systems especially
in Europe and North American region.
"The LiDAR laser
scanning devices are anticipated to spectate the colossal growth
opportunities"
On basis of components the
LiDAR industry is fragmented into GPS components, navigation device, laser
scanner and other devices that are used for capturing, processing and storing
data such as camera equipment. Laser scanner has great importance in LiDAR
technology, owing to this fact the laser segment is expected to grow at a
significant rate.
Different type of laser
scanner is used for airborne, terrestrial and mobile & UAV platforms that
scan entire area as per the mapping and scanning requirement.
"Velodyne LiDAR, Inc.
to dominate the automotive LiDAR solicitation arcade"
The key players at present
are witnessing severe competition in market. Major players are aiming high
market share by providing enhanced quality products and opting different
strategic initiatives such as merger and acquisitions.
Leica Geosystems Holding
AG, RIEGL USA Inc., Velodyne LiDAR Inc., Faro Technologies Inc., and Trimble
Navigation limited are major players in LiDAR market.
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