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Global LIDAR Market 2016 Industry Growth, size, Manufacturers, and Forecast Research Report to 2021

Wednesday, November 16, 2016 6:21
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(Before It's News)

The LiDAR market is expected to grow at a CAGR of 12.4% during 2016-2022 and touch USD 3.22 billion by 2022. A major driving factor for the growth of the market is the technology superiority of LiDAR. Also, several other factors such as automation, encouragement from government and institutes for adoption of LiDAR, and use of LiDAR in automotive sector are boosting the growth of this market.

Browse Detailed TOC, Tables, Figures, Charts and Companies Mentioned in Global LIDAR market research report @ http://www.absolutereports.com/10166580

LIDAR Market Drivers

  • Encouragement from government and institutes for adoption of LiDAR 
  • Continuous increasing use of drones in various applications
  • LiDAR application in engineering projects and large magnitude set
  • Technological superiority of LiDAR
  • Automation in LiDAR systems leading to increased efficiency and reduced human efforts

LIDAR Restraints

  • High cost of LiDAR and high expense in surveying application
  • Lack of awareness and customer education about LiDAR benefits

LIDAR Opportunities

  • Vertical integration in terms of expansion of business from component provider to LiDAR equipment provider
  • Automotive sector provides new opportunities for LiDAR market

LIDAR Challenges

  • Environment constraints pose a challenge for the usage of LiDAR

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In the LiDAR market, with respect to product, UAV segment is expected to grow at the highest CAGR. Presently, the increasing acceptance of UAV for various applications like media and entertainment, precision farming, and many other commercial applications is the reason behind high growth of UAV LiDAR.

The market in APAC is expected to grow at the highest CAGR between 2016 and 2022. The growth is due to growing industrialization and urbanization in this region. Growing awareness among governments and customers is propelling this market in APAC region. Additionally, availability of local players and favorable economic conditions are some of the other factors affecting for the high growth of the market in this region.

LIDAR Company Profiles

  • Quantum Spatial (Aerometric) (U.S.)
  • Faro Technology (U.S.)
  • Trimble Navigation Limited (U.S.)
  • Sick AG (Germany)
  • Velodyne (U.S.)
  • BLOM (Norway)
  • Geodigital (Canada)
  • Leica Geosystems AG (Switzerland)
  • Optech, Inc. (Canada)
  • Reigl Laser Measurement Systems GmbH (Austria)
  • Topcon Positioning Systems, Inc. (U.S.)
  • Michael Baker International (U.S.)
  • YellowScan (France)

Primary interviews were conducted with various industry experts to collect data related to different aspects of the market. Primary sources include professionals such as decision makers, executives, vice presidents, and CEOs.

No. of Report pages: 145

Price of Report: $ 5650 (Single User License)

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Mr. Ameya Pingaley

Absolute Reports

+1-408 520 9750

Email – sales@absolutereports.com

www.absolutereports.com

 

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