Europe LiDAR market to witness 20% CAGR from 2019 to 2025 | Major Vendors are Beijing Surestar Technology, Geodigital, Leica Geosystems, Michael Baker International, Ouster, Teledyne Optech, Topcon Positioning Systems

The Europe LiDAR market is expected to grow at a CAGR of over 20% over the projected time period due to the increasing use of advanced LiDAR solutions on various engineering projects on a large scale. Another factor that has acted as a catalyst in the usage of LiDAR solutions is the rising use of UAVs for various recreational & commercial purposes. There has been an upsurge in the number of supportive government initiatives, encouraging enterprises to invest on LiDAR-based research along with the adoption of the LiDAR technology for numerous public sector applications such as flood relief and management.

Some of the players in the LiDAR market are Beijing Surestar Technology, Geodigital, Leica Geosystems, Michael Baker International, Ouster, Teledyne Optech, Topcon Positioning Systems, Quantum Spatial, Velodyne LiDAR, Yellowscan, Trimble, Valeo, Riegl Laser Measurement Systems, Quanergy Systems, Innoviz Technologies, Leddartech, Geokno, and Faro Technologies.

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Key Benefits-
• To Track And Analyze Competitive Developments, Such As Product Launches, Agreements, Partnerships, Collaborations, And Acquisitions In The Global LiDAR Market.
• To Forecast The Size Of The Market Segments With Respect To Four Major Regional Segments, Namely, North America, Europe, Asia Pacific, And The Rest Of The World (Latin America And The Middle East & Africa).

There has been a rise in the demand for 3D imaging solutions due to the increasing development of smart city projects and its expanding civil engineering & manufacturing applications. The existing traditional 3D imaging technologies, such as radar, cannot detect small objects, preventing its usage in high-precision applications. The LiDAR technology uses shorter wavelengths that allow it to detect miniscule objects with high degree of accuracy while developing an exact 3D monochromatic model of the object. This characteristic has opened an entire new paradigm of possibilities to solve complex tasks, specifically in factory automation, robotics, and manufacturing sectors, encouraging companies to use LiDAR solutions due to their ability to solve various complex problems while simultaneously developing high-precision 3D models.

Specifically, automakers are known to incorporate mechanical LiDAR devices in the vehicles, given their excellent efficiency. This has also been attracting investments from many automotive companies, expediting the growth of the global mechanical LiDAR industry. As a matter of fact, the continuous spate of R&D activities to commercialize this technology in cars is expected to propel mechanical LiDAR market size, slated to record a CAGR of 32% over 2019-2025.

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A LiDAR drone is considered to be an affordable and efficient way of 3D imaging and modeling of geological features, with the concept gaining momentum owing to proliferation of advanced drone mapping software solutions. UAVs allow for a more portable and flexible mapping system to gather valuable terrain data. Citing an instance, a LiDAR UAV from YellowScan was utilized for mapping a transmission line corridor, including the lines, poles and vegetation, to study the risk of a flashover and if the vegetation needs to be trimmed. Fast-paced development of new UAV platforms, cameras and sensors to provide the most comprehensive 3D maps and accurate measurements will underscore the massive scope of LiDAR applications.

LiDAR technology has also found its deployment in environment applications. Airborne LiDARs are used to detect and map vegetation, deep waters and dense clouds. LiDAR is being used in oceanography to estimate general biomass and phytoplankton fluorescence in the surface layers of the ocean. LiDAR also enables scientists to determine the biodiversity of the forest helping to preserve ancient trees. This in consequence, is expected to drive LiDAR market share from environment applications, projected to register a CAGR of 32% over 2019-2025.

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