According to a recently published report by Brisk Insights, the Global LIDAR Market is expected to grow at the CAGR of 15.47% during 2015-2022 and it is estimated to reach $1.20 billion by 2022. The global LiDAR market is segmented on the basis of components, industry applications, by technology and geography. The report on Global LiDAR Market Forecast 2015-2022 provides detailed overview and predictive analysis of the market.
Full report available Global LiDAR Market Forecast 2015-2022 report at http://briskinsights.com/report/lidar-market
The global LiDAR market is projected to growth significantly on the account of increasing demand for 3D imagery in various end-use segments. Significant reduction in LiDAR prices is further expected to aid market growth. LiDAR is an emerging technology and it exhibits a huge potential in terms of applications such as corridor mapping, engineering, environment, advanced driver assistance systems (ADAS), exploration, urban planning, meteorology, and cartography among others. LiDAR has replaced photogrammetry owing to its comparative advantage in terms of high accuracy and light dependency. Some of the technologies associated with the shift include multi-sensor intelligence networks, hyperspectral imaging and 3D airborne imaging. With growing environmental concerns and heightened homeland security requirements are expected to simulate growth over the forecast period. Increasing need for imagery and critical mapping data in the defense and government sector is expected to drive the overall LiDAR market. The major restraints for this market are costs involved in acquisition of equipment and conducting surveys and the lack of awareness about this technology.
The key players in the Global LiDAR Market include Airborne Hydrography AB, Aerometric, 3D Laser Mapping, DigitalWorld Mapping, Firmatek, Reigl USA, Mosaic 3D and Faro Technology. Companies operating in the LiDAR are adopting product launch and collaborations as their key developmental strategies to meet the customer demands and increase their customer base. Partnerships would help the players to set a common technology platform and share the technological requirement. This will help the market players to enhance their product portfolio through less investment and increase their market share across various geographies.
Release ID: 747