Global LiDAR Services Market is predicted to reach to US$ 1,842.4 Mn Up to 2022, due to Rapid Technological Advancements and Emerging Applications

Absolute Markets Insights offers its latest published report ‘LiDAR Services Market by Services (GIS Services, Asset Management, Aerial Surveying, Ground-Based Surveying and Mapping and Modeling); by Applications (Environment, Corridor Mapping, Engineering, Advanced Driver Assistance System, Metrology, Exploration, Cartography and Urban Planning; by Regional Outlook (U.S., Rest of North America, France, UK, Germany, Spain, Italy, Rest of Europe, China, Japan, India, Southeast Asia, Rest of Asia Pacific, GCC Countries, Southern Africa, Rest of MEA, Brazil, Rest of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2018-2026.’ The author of the report analyzed that the global LiDAR services market accounted for US$ 899.0 million in 2017. Light Detection and Ranging (LiDAR) system consists of a laser, which measures distances, to study land and geographic divisions, forestry and agriculture, etc. The emerging applications of LiDAR in infrastructure development, for capturing undiscovered sites and difficult terrains has resulted in increased government spending in this field leading to its market growth

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Increasing investments by leading companies, such as Ford, General Motors, in LiDAR services is one of the major reason of growth in this market. These companies use LiDAR systems in their self-driving vehicles to create a precise, 3D virtual picture of an environment. LiDAR services can be used to collect data only in appropriate weather conditions. The presence of unclear weather conditions such as rain, snow, fog or smoke does not provide precise data, which restricts the use of LiDAR services. The constraints caused by such weather conditions can hamper the growth of the market. However, rising technological advancements such as four-dimension applications for use in construction management is expected to provide major growth opportunities for LiDAR services market.

GIS Services segment is estimated to grow at a significant rate during 2018-2026.
The GIS services segment is projected to be the largest and fastest growing segment over the mentioned forecast period. The GIS services has its applications in various domains such telecommunication and GIS in cloud which has helped driven the growth of this segment. Moreover, the government organizations are majorly using GIS services for urbanization, land-planning, forestry, etc. For instance, Torfaen County Borough Council in Wales implemented a location intelligence and data management platform to help transformation. The data also enabled improved citizen services and citizen engagement across the district through the implementation of new web mapping services.

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North America is Anticipated to Hold a Significant Share in the Global Market.
North America held the largest share in the global LiDAR services market. The high growth of the region is attributed to the high rate of investments in the LiDAR services. Moreover, U.S. government is employing this service for other application such as infrastructure development, which is expected to drive the market during 2018 - 2026. In March 2015, Harris Corporation developed commercially available Geiger-mode LiDAR sensor. This LiDAR sensor service provides collection, processing tools and analytics.

LiDAR Services Market is Fragmented in Nature with the Presence of Global and Regional Players
Some of the significant players functioning in some of the significant players functioning in the Global market includes Faro Technology, GeoDigital, Harris Corporation, Leica Geosystems AG, Quantum Spatial, RIEGL Laser Measurement Systems GmbH, Sick AG, Trimble Inc., Velodyne LiDAR Inc., and YellowScan, amongst others. In September 2016, Faro Technology launched a VectorRI Imaging Laser Radar, a new class of LiDAR along with High Speed Imaging (HSI) technology. Launch of such devices by major companies is propelling the growth of the LiDAR services market.

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LiDAR Services Market - By Services
• GIS Services
• Asset Management
• Aerial Surveying
• Ground-Based Surveying
• Mapping and Modeling

LiDAR Services Market - By Application
• Environment
• Corridor Mapping
• Engineering
• Advanced Driver Assistance System
• Metrology
• Exploration
• Cartography
• Urban Planning

Market By Region
• North America
o U.S.
o Rest of North America
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Southeast Asia
o Rest of Asia Pacific
• Middle East and Africa
o GCC Countries
o Southern Africa
o Rest of Middle East and Africa
• Latin America
o Brazil
o Rest of Latin America

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This release was published on openPR.