LIDAR systems Worth US$1.44 Billion by 2022 | MRFR

LIDAR a.ka. Remote Sensing is a System that measures the distance between the sensor and the object by determining the time of the releases (announcement) and receiving (delivery) of the reflected pulse.

LIDAR stands for Light Detection & Ranging. LIDAR System does not require electromagnetic radiation but it requires laser pulses that strike the object back to the sensor.
LIDAR systems make the detection and mapping of objects easier than other conventional methods and hence it is the most preferred and adopted system worldwide.
LIDAR is used across all the important applications. For instance, terrestrial uses LIDAR which is infrared laser with approximately 900–1064 nanometers and water penetration green light with approximately 532 nanometers for the water measurement.
While explaining the Market Segmentation for the report; the Team Analyst states that the global LIDAR market has been segmented into five key dynamics for an easy grasp. These segmentations are - Segmentation by type, Segmentation by application, Segmentation by component, Segmentation by end-users and Segmentation by region.

Commenting on the Report the Team of Analysts of Market Research Future predicts that LIDAR Market is expected to be valued at USD ~1.44 billion by 2022 growing with ~21% of CAGR through the forecast period 2016 to 2022.

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Major Key Players

Faro Leica Geosystems (Sweden),
Technology (U.S.),
Velodyne LiDAR, Inc. (U.S.),
Beijing Beike Technology Co., Ltd (isurestar) (China),
Riegl Laser Measurement Systems GmbH (Austria),
Quantum Spatial (Aerometric, Inc.) (U.S.),
Teledyne Optech Inc. (Canada),
YellowScan (France),
Geokno India Pvt. Ltd. (India),
Trimble Inc. (U.S.),

The key factors contributing to the growth of the LIDAR market are automated systems in LIDAR, adoption of applications such as aerial LIDAR and emergence of new applications. Also, the growth in this market can be attributed to the encouragement from the governments for its adoption, application of LIDAR in engineering projects & large magnitude set and rise in demand for robust security and sensor accuracy. The increasing demand of 3D imaging across various applications is also one of the factors that further contributes to the growth of the global LIDAR Market.
The adoption of LIDAR devices faces a tough challenge owing to its high cost. As compared to alternative technology; for instance RADAR, LIDAR instruments are available at about 10000 times the usual prices. However, with the fall in laser generator costs and 3D imaging software prices, the negative impact of this factor would reduce significantly.

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The competitive market of LIDAR is highly application based. GSS segment of LIDAR market globally drives the market. Due to which the market is expected to have higher growth rate as compared to the previous years.
GIS accounted for the largest market share majorly due to increasing demand for GIS services in canopy height estimation, forest planning, and harvesting planning applications. They are majorly adopted by the government for the forest management and for planning crops.
Let us have a glance at the regional analysis of the LIDAR Market. North-America is accounted for the largest market share, because of the increasing investment by various firms towards ADAS and driverless cars and also provides new opportunities for small, versatile, and low-cost LIDAR systems.
Europe holds the second largest market share owing to the rapid adoption of LIDAR systems.

Asia Pacific is emerging as the fastest growing market due to the awareness and the need for technology

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