Key Factors based on Global LiDAR Market Analysis till 2020

According to a new research report by MarketIntelReports titled “Global LiDAR Industry 2016 Research Report” is a detailed qualitative analysis of the factors responsible for driving and restraining growth of the LiDAR Industry and future opportunities are provided in the report.

Browse Complete Research @ http://www.marketintelreports.com/report/9dime5606/global-lidar-industry-2016-market-research-report

Improved automated processing ability in data processing and image resolution capabilities over other technologies are expected to be the major factors stimulating the consumption. Rising adoption of aerial systems for exploring & detecting historic details and increasing demand for 3D imaging technology across several application areas are also anticipated to spur growth.

Other verticals such as civil engineering, defense and aerospace, mining, archeology, transportation and forestry, and agriculture are also expected to spur growth as the end-users exhibit the tendency to reduce the cost of operations leading to rise in investments and awareness across diverse verticals.

However, usage of expensive components in the systems, viz., navigation system, laser scanner, and high-resolution 3D cameras conjointly increases the cost which may hamper growth over the forecast period. Low awareness about the benefits of the system can also pose a challenge.

Rising consumer adoption and an increasing number of new product launches are expected to draw huge investment from key participants, thus driving demand over the next seven years.

Asia Pacific LiDAR market is expected to witness a significant growth at a CAGR of 28% over the forecast period owing to increased spending on defense & military. North America LiDAR industry is anticipated to have the maximum share of nearly 40% of the overall revenue owing to high adoption of advanced 3D imagery technologies by the U.S. government.

Rising demand in the U.S. with increasing aerospace applications coupled with deployment in industries such as asset management, reverse engineering, civil engineering, telecommunications, and mine mapping is expected to drive demand in the U.S.

The Europe LiDAR market is anticipated to follow North America in terms of revenue and share owing to the technological advancements for meeting the customers’ requirements in various applications fields such as corridor mapping, volumetric mapping, and military and transportation.

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