LIDAR Market is Expected to Reach USD 5,842.37 Million by 2024 from USD 1,058.40 Million in 2016

Reports Web announces the release of market assessment report on “Global LIDAR Market Analysis and Forecast to 2024". The report is segmented into several key Regions, with production, consumption, revenue and market share.

The Global Lidar Market is accounted to reach USD 5,842.37 million by 2024 from USD 1,058.40 million in 2016, it is growing at a CAGR of 24.1% in the forecast period 2017 to 2024.

The major factors contributing to the growth of the market includes factors such as rising government initiatives and increasing adoption, increasing use of drones in numerous applications, growing lidar application in engineering projects and large-magnitude set and technological advancement.

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The key market players for Global Lidar Market are listed below:
-Teledyne Optech incorporated
-Smith & Hexagon,
-Sick AG and Trimble Inc..
-Quantum Spatial,
-Faro Technologies,
-Beijing Beike Technology Co., Ltd,
-Riegl Laser Measurement Systems Gmbh ,
-Velodyne Lidar, Inc.
-Yellowscan ,
-Geokno India Pvt. Ltd.,
-Quanergy Systems, Inc.,
-Innoviz Technologies Ltd,
-Innoluce BV,
-Leddartech,
-Autonomoustuff,
-Geodigital,
-Trilumina,
-Tetravue,
-Luminar,
-Princeton Lightwave Inc.,
-Neptec Technologies

The market is further segmented into:
-Type
-Application
-End User
-Geography

The global Lidar market is segmented on the basis of components, products, application and services. The report provides data for 2015 to 2024, 2016 being the current year while 2017 to 2024 is the forecast period for the report.

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Based on component, the global lidar market is segmented into four components which include navigation and positioning system, laser scanners, photodetector receivers and others. The navigation and positioning system are further sub segment into global positioning system (GPS) and internal measurement unit (IMU). Others market is further sub segmented into camera, high-precision clock and other accessories. The global navigation and positioning system market is expected to reach USD 2,480.17 million by 2024, from USD 455.02 million in 2016, growing at a CAGR of 23.9%.

Based on products, the global lidar market is segmented into aerial lidar, ground-based lidar, UAV lidar and solid-state lidar. Aerial lidar is further sub segmented into topography aerial lidar and bathymetric aerial lidar. Ground based lidar is further sub segmented into mobile ground based and static ground based. The global aerial lidar market is expected to reach USD 2,521.36 million by 2024, from USD 484.46 million in 2016, growing at a CAGR of 23.1%.

Based on application, the global lidar market is classified into corridor mapping, environment, engineering, urban planning, exploration, adas and driverless cars, cartography, meteorology and others. Corridor mapping is further sub segmented into railways, roadways and others. Environment is further sub segmented into coastline management, forest management, wind farm, pollution modeling, agriculture and precision forestry. Exploration is further sub segmented into oil & gas and mining. Urban planning is further sub segmented into tourism and park management and others. Others are further sub segmented into police lidar, robotics and others. In 2017, the corridor mapping is expected to dominate the market with 29.5% market share and is expected to grow at a CAGR of 23.5% in the forecast period.

Read More Information and Full TOC of the Report@ http://www.reportsweb.com/Global-LIDAR-Market-Analysis-and-Forecast-to-2024

Based on services, the global lidar market is segmented into mapping & modeling, aerial surveying, ground based surveying, lidar data processing, GIS service, assets management and others. Lidar data processing is further sub segmented data acquisition, point cloud classification and creation of 3d visualization. GIS service is the highest growing segment with the highest CAGR of 26.2% in the forecast period 2017 to 2024.

Based on geography, the Global Lidar market is segmented into 11 geographical regions, such as,
-North America,
-South America,
-Europe,
-APAC,
-MEA,
-Rest Of the World

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This release was published on openPR.