LiDAR Market : Sovereign Companies - Beijing Surestar Technology, Faro Technologies, Geodigital, Geokno, Innoviz Technologies, Leddartech, Leica Geosystems, Michael Baker International, Ouster

How will burgeoning requirement for environmental mapping augment the global LiDAR market share over 2019-2025?

Traditional mapping & imaging solutions currently in existence have certain limitations in performance, thereby promoting LiDAR market growth, owing to the proliferating demand for sophisticated 3D imaging technologies in high-precision applications.

LiDAR solutions can identify minute objects through the use of shorter wavelengths, which enables them to maintain higher accuracy levels in comparison with their conventional counterparts like radar or aerial mapping. These characteristics make LiDAR the preferred choice for myriad environmental applications like survey assessment, coastal engineering, forest inventory, geomorphology, floodplain mapping, hydrology, landscape ecology and volumetric calculations across a broad range of industry sectors.

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As per reliable reports, the global LiDAR market is projected to record remuneration of over $10 billion by 2025.

What are the key trends propelling the LiDAR market size in the UAV product segment?
The integration of LiDAR solutions in various UAV devices is gaining widespread acceptance in order to develop high resolution imaging and varying landscape elevation models.

In the past, companies traditionally utilized distinctive customized components for mapping purposes. With the advent of LiDAR technology, however, many companies have now initiated the incorporation of LiDAR devices on UAVs as more advanced 3D imaging and multifunctional mapping solutions in comparison with conventional technologies.

Furthermore, LiDAR devices mitigate the size and manufacturing costs of assembling the product, making it the preferred choice in the economical production of drones.

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How will shifting climate conditions along coastlines boost bathymetric LiDAR industry demand over the projected timeline?

Evolving climate conditions in coastal regions, rising sea levels and the looming threat of severe natural calamities has necessitated a better comprehension of coastlines, which has in turn augmented global LiDAR market trends.

Bathymetric LiDAR technologies survey near-shore land and the surface of the sea to detect potential coastal threats across coastal regions. These measurement systems are an effective and economical solution for gathering data on both land and sea to create sophisticated coastline elevation models.

Bathymetric LiDAR market share is poised to witness significant growth in years to come, with an expected CAGR of over 30% through 2025.

Aircrafts are leveraging multiple sensors, designed to deliver integrated 360° views of vast areas, quicker output, better calibration of reflections between flight lines and improved point density. Emerging trends in big data processing and cloud computing are further impelling the usage of these systems across several applications like mapping and surveying.

How will broad application scope in disaster management influence topographic LiDAR market size over 2019-2025?

In terms of product segmentation, the topographic LiDAR market outlook is projected to depict growth of over 25% through 2025. Key industry players in the LiDAR market landscape are shifting their focus towards the development of imaging solutions tailored to suit myriad applications including disaster planning, emergency management, forest inventory, soil, erosion management and country & state side mapping, among others.

The topographic LiDAR industry is witnessing accelerated demand owing to the product’s penetrability into dense forest canopies and precise 3D imaging capabilities for numerous regional landscape models. These devices demonstrate considerable application potential in creating digital terrain models, topographic classified point clouds, digital surface models and contours.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

This release was published on openPR.