Press release
Global LIDAR Market is Booming with Higher CAGR of 24.6% through 2024
Global LIDAR Market ? Industry Trends and Forecast to 2024
The Global LIDAR Market accounted for USD 1.28 billion in 2016 growing at a CAGR of 24.6% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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TOP Competitors of Market:
• Quantum Spatial,
• FARO Technologies, Inc.,
• Beijing Beike Digital Medical Technology Co.,Ltd.,
• Leica Geosystems AG,
• Teledyne Optech Incorporated,
• RIEGL Laser Measurement Systems GmbH,
• Velodyne LiDAR, Inc.,
• YellowScan,
• SICK AG,
• Trimble Inc.,
• Quanergy Systems, Inc.,
• Innoviz technologies, Inc.,
• Infineon Technologies AG,
• Leddartech,
• Leosphere,
• Mira Solutions, Inc.,
• Teledyne Optech Incorporated,
• Geokno India Private Limited,
• among others.
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Major Market Drivers:
• Increasing demand for drones
• Increasing usage of LIDAR in engineering applications
• Government initiatives for adoption of LIDAR
• Technological developments in LIDAR systems
• Lack of awareness among the customers
• High cost of equipment
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Market Segmentation:
On the basis of components:- laser scanners, navigation & positioning systems, and others.
On the basis of product:-Aerial, ground-based, UAV, and solid-state.
On basis of service:-Aerial surveying, asset management, GIS service, ground-based surveying, mapping and modeling, and others
On the basis of application:- Corridor mapping, engineering, environment, ADAS & driverless cars, exploration, urban planning, cartography, meteorology, and others.
On the basis of geography:-
• North America,
• South America,
• Europe,
• Asia-Pacific, and Middle East & Africa.
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