Terrestrial Laser Scanning Market Projected to reach $4.4 billion by 2023 | Key players include 3D Digital Corporation, Carl Zeiss Optotechnik, Creaform and FARO Technologies

According to the new market research report on "Terrestrial Laser Scanning Market by Solution (TLS System, TLS Services), Application (Building Information Modelling (BIM), Surveying, Research & Development), Type (Phase-Shift, Pulse-Based and Mobile Scanner), and Region - Global Forecast to 2023", The terrestrial laser scanning market is estimated at USD 3.0 billion in 2018 and is projected to reach USD 4.4 billion by 2023, at a CAGR of 8.17% from 2018 to 2023. Factors such as the increasing demand for land surveys across the globe and the growing requirement of digitalization in infrastructure industry in Asia Pacific and the Middle East are expected to fuel the growth of the terrestrial laser scanning market.

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The terrestrial laser scanning services segment projected to grow at a higher CAGR in the terrestrial laser scanning market during the forecast period

Based on solution, the terrestrial laser scanning services segment is expected to lead the terrestrial laser scanning market during the forecast period. This segment includes services provided by surveyors to different end-use industries such as oil & gas, mining, infrastructure, and forestry & agriculture. In the surveying industry, different types of instruments such as total stations, prisms, rangefinders, and terrestrial laser scanners are used to carry out surveys

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The Building Information Modeling (BIM) application segment of the terrestrial laser scanning market is expected to grow at the highest CAGR during the forecast period

Based on application, the Building Information Modeling (BIM) segment of the terrestrial laser scanning market is expected to grow at the highest CAGR during the forecast period. The increase in demand from 3D scanning from architects and civil engineering companies has led to an increase in the demand for BIM. Terrestrial laser scanning solutions provide 3D deformation data of infrastructures and assets.

Asia Pacific is expected to be fastest-growing market for terrestrial laser scanning

Asia Pacific is estimated to lead the terrestrial laser scanning market during the forecast period. The growth of this market is supported by new infrastructure projects in the region, thereby providing various opportunities for TLS surveys.

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Major players in the terrestrial laser scanning market include 3D Digital Corporation (US), Carl Zeiss Optotechnik (Germany), Creaform (Canada), FARO Technologies (US), Maptek (Australia), Trimble (US), RIEGL Laser Measurement Systems (Austria), Teledyne Technologies (US), Topcon (Japan), Hexagon (Sweden), and Zoller + Fröhlich (Germany), among others.

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