Precision Farming Market Size, Competitors Strategy, Regional Analysis and Growth by Forecast to 2023 | Teledyne, Hexagon, Faro Technologies, RIEGL Laser Measurement, Yellow Scan, Geokno

The global LIDAR Market is expected to reach USD 1.44 billion by the end of 2022 with 21 % CAGR during forecast period 2019-2022. Global LIDAR Market, By Type (Terrestrial, Airborne), By Component (Laser, Navigation, Camera, GPS Receiver), By Application (Seismology, Corridor mapping, Exploration), By End-users (Oil & Gas, Transportation, Mining, Tourism) by Forecast 2022

Market Insights:

As per Market Research Future (MRFR)’s analysis, the global LiDAR market is expected to mark a CAGR of 14.14% during the forecast period 2018 to 2023. The report also highlights that the valuation of the global market is estimated to grow from USD 1,894.4 Mn in 2017 to USD 4,158.8 Mn by the end of 2023. LiDAR Market technology has witnessed rapid developments from 1D to 2D and now the latest 3D technology. These innovations have led to an exponential expansion of its market presence, thus, augmenting the LiDAR market.

Deployment of LiDAR technology for industrial processes facilitates efficiency and informed decision making, thus, enhancing productivity. Construction and automobile industries are the most potential industries for the implementation of LiDAR. The growth of these industries is the driving force of the global LiDAR market.

The governments are also promoting the deployment of the technology. It is in high demand by government organizations for mapping, surveillance, meteorology, etc. In addition, the investments made for the development of the existing LiDAR technology is also poised to influence the market growth positively.

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Competitive Dashboard:

The key players identified in the report are LiDAR sector are Trimble Inc. (U.S.), Teledyne Technologies Inc. (U.S.), Hexagon AB (Sweden), Faro Technologies Inc. (U.S.), Beike Tianhui Technology Co., Ltd. (China), RIEGL Laser Measurement Systems GmbH (Austria), Quantum Spatial (U.S.), YellowScan (France), and Geokno India Pvt. Ltd. (India).

Segment Overview

Types of LiDAR in the market include airborne LiDAR, terrestrial LiDAR, and others. Various technologies of LiDAR covered include 1D, 2D, and 3D. By component, the LiDAR market is segmented into navigation & positioning systems, laser scanner, and other components. Functional areas suitable for LiDAR application include urban planning, corridor mapping, engineering, cartography, meteorology, environment, and ADAS & driverless car.

The segments covered in the LiDAR market report are analyzed with respect to four main regions – North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW), with respective country-level market sizing. The report discusses in detail the various players residing in these regions and their respective strategies to climb up the market ladder.

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Research Methodology

At Market Research Future (MRFR), our research analysts conduct a thorough objective analysis of the market while creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top executives of prominent component manufacturers and system integrators. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner.

In addition, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. The balanced number of buyers and suppliers will result in a negligible demand-supply gap. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.

Analysis Period

• Base Year - 2017
• Projection Period - From 2018 to 2023
• Market Denomination - USD Million
• Conversion Rate - Considered as per the respective financial years

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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