LiDAR Market by,Component, Application, Services and Geography - Global Forecast to 2022
The LiDAR market was valued at 1.39 Billion in 2016 and is expected to reach USD 3.22 Billion by 2022, at a CAGR of 12.4% to 2022. Factors such as technological superiority, encouragement from government, and various applications of LIDAR such as engineering projects, and large magnitude set are key drivers for the growth of LiDAR market. Browse 67 tables and 52 figures spread through 143 Pages and indepth TOC on "LiDAR Market - Global Forecast to 2022" Request For Sample Report: http://www.marketsandmarkets.com/requestsample.asp?id=1261 The vendor offerings were also taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global LiDAR market from the revenue of key players in the market. Major players operating in this market are Quantum Spatial (Aerometric) (U.S.), Faro Technology (U.S.), Geodigital (Canada), Leica Geosystems AG (Switzerland), Optech, Inc. (Canada), Reigl Laser Measurement Systems GmbH (Austria), Topcon Positioning Systems, Inc. (U.S.), Trimble Navigation Limited (U.S.), Sick AG (Germany), Velodyne (U.S.), BLOM (Norway), Michael Baker International (U.S.), and YellowScan (France).
After arriving at the overall market size, the total market was split into several segments and subsegments which are then verified through the primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. Laser scanner segment held the largest share of the overall component market. The rise in applications of LiDAR has resulted in the increasing deployment of lasers. In addition, the high wavelength of laser scanner is one of the key reason for its largest market share. The corridor mapping application accounted for the largest share of the overall market. Increasing infrastructure development and use of LIDAR during construction of roadways, highways, and railways drives the overall corridor mapping application market. Report Information : http://www.marketsandmarkets.com/Market-Reports/lidar-market1261.html UAV LiDAR is expected to grow at the highest CAGR In the LiDAR market by product, UAV segment is estimated to grow at the highest CAGR during the forecast period. The increasing adoption of UAV for various applications such as media and entertainment, precision farming, and many other commercial applications is reason for the high growth of UAV LiDAR segment. The corridor mapping application held the largest market share Corridor mapping application accounted for largest share in 2015. The growth is attributed to the data generated from these surveys that can be used to build three-dimensional (3D) elevation models of the earthâ€™s surface. Infrastructure development is further expected to increase in coming years, which will lead to increased use of LiDAR. These benefits drive the market in the corridor mapping application.
APAC expected to grow at the highest CAGR during the forecast period APAC market is expected to grow at the highest CAGR between 2016 and 2022. The growth is attributed to increasing industrialization and urbanization in the region. About MarketsandMarkets MarketsandMarkets is worldâ€™s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model â€“ GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. M&Mâ€™s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
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Published on Feb 16, 2017
The LiDAR market was valued at 1.39 Billion in 2016 and is expected to reach USD 3.22 Billion by 2022, at a CAGR of 12.4% from 2016 to 2022.