LiDAR Market– Global Revenue To Cross The Billion-Dollar Benchmark By 2024
LiDAR Market is anticipated to exceed USD 1 billion by 2023. Significant investments in the infrastructural development space as well as numerous strategic alliances are acting as growth drivers for the LiDAR market. Growing reception of growing reception in 3D-modeling applications, automobile safety application, and civil engineering for monitoring, environmental mapping arenas will prove favorable for global revenue growth. Increasing acceptance of the technology in government and commercial applications like roadways, forestry and railways, management will augment LiDAR market adoption rates.
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Increasing applications of UAVs in marketable processes will fuel LiDAR market share. There has been development in the storage capabilities of data and the computer processing speeds have increased, lowering the costs while increasing the efficiency of dealing with the data. Numerous underground applications for the systems include identification/measurement of structure, tunnel deformation, scaling measurement and rockfall source detection.
The LiDAR market can be segmented on the basis of products as airborne, terrestrial, mobile, short range.
Mobile accounted for around 20% of the overall revenue in the year 2015. Capacity of removing the necessity for deployment prices, rises the security of data by eliminating the need for traffic deviation and offers safety for the project employees. Around 40% of the revenue in the year 2015 is by the Airborne LiDAR market. Thorough native elevation data and high accuracy is offered by airborne LiDAR. It enables to conceal big area and the environmental impact also reduces. Mobile mapping systems have observed extraordinary progresses credited to increasing demand for precise and high-resolution geospatial data. Introduction to internet mapping has amplified the requirement for geospatial data.
Various regulations have been established by regulatory authorities such as the united stated geological survey. There have been certain standards set by the regulatory bodies and programs such as national geospatial programs have been run by the US government for the necessity of high accuracy and high efficiency.
North America region is expected to grow at a growth rate of 9.3% in the forecasted period. Owing to the technological developments in GPS and inertial navigation unit the Europe region is also expecting a steady growth. The revenue from Asia pacific region is expected to be USD 470 million by the year 2023. This is owing to the low-cost manufacturing activities.
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Table of Content
Chapter 6 LiDAR Component Insights
6.1 LiDAR market by component, 2015 & 2023
6.2.1 Market estimates and forecasts, 2012 - 2023
6.2.2 Market estimates and forecasts by region, 2012 - 2023
6.3.1 Market estimates and forecasts, 2012 - 2023
6.3.2 Market estimates and forecasts by region, 2012 - 2023
6.4 Data storage & management
6.4.1 Market estimates and forecasts, 2012 - 2023
6.4.2 Market estimates and forecasts by region, 2012 - 2023
6.5 Laser scanners
6.5.1 Market estimates and forecasts, 2012 - 2023
6.5.2 Market estimates and forecasts by region, 2012 - 2023
6.6.1 Market estimates and forecasts, 2012 - 2023
6.6.2 Market estimates and forecasts by region, 2012 - 2023
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Global LiDAR Market: Overview LiDAR, acronym for Light Detection and Ranging, is a remote sensing technology that emits light towards a target object to unearth information about it and gauge the range of a distant target from the light that is being reflected back. It can be compared to RADAR and SONAR in many ways. However, unlike a RADAR and SONAR, LiDAR uses light waves of shorter wavelengths. The wavelengths