Report Scope: This report represents an in-depth analysis of the global LiDAR market by component, type, application and region. The report discusses the differentiation between LiDAR to derive specific market estimates.
New York, March 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Light Detection and Ranging (LiDAR): Technologies and Global Markets" - https://www.reportlinker.com/p05136800/?utm_source=GNW
The report offers a comparative study between conventional and emerging laser and the importance of the advances in LiDAR.The report also discusses strategies adopted by major players in the global LiDAR market.
The patent analysis in this report provides a snapshot of technological trends in the global market over time as well as by geography—namely, for the U.S., Europe and Japan. The global LiDAR market is segmented by type of LiDAR: airborne, terrestrial, mobile, and UAV.
- 75 tables
- An overview of the global market for light detection and ranging (LiDAR) technologies
- Analyses of the global market trends, with data from 2019-2020, and projections of compound annual growth rates (CAGRs) through 2025
- Estimation of market size and revenue forecasts for global LiDAR market, and corresponding market share analysis by component, technology type, application, and geographic region for market segment and its subsegments
- Identification of major market stakeholders and analysis of competitive landscape on the basis of recent developments
- Assessment of the effect of environmental concerns on this market, and insight into the trends, gaps and opportunities in each of the submarkets
- Patent review and a study of new developments in LiDAR technologies
- Company profiles of the major market players within the industry, including Faro Technologies Inc., Infineon Technologies AG, Intermap Technologies Corp., Quantum Spatial Inc., Sick AG, and Vaisala Corp.
LiDAR enables the collection of a wealth of information for numerous applications and delivers several advantages over traditional methods of aerial mapping.This technology is changing the paradigm of terrain mapping and attaining popularity in several applications such as floodplain mapping, forest inventory, geomorphology, hydrology, landscape ecology, urban planning, survey assessments, volumetric calculations, and coastal engineering.
These applications can benefit from a combination of LiDAR and geographic information systems (GIS) in order to manage and conduct analysis, and disseminate and visualize LiDAR data.
Due to these and many other factors, the LiDAR market is expected to grow at a compound annual growth rate (CAGR) of REDACTED% between 2020 and 2025 to attain a market value of $REDACTED billion in 2025. Many alternatives to LiDAR can be considered as failed technologies; it follows, then, that the need for amore accurate, more reliable and easier methods of collecting data, and the resulting growth LiDAR technology. are key drivers for the market.
However, the growth of the LiDAR market is limited by factors such as lack of industrial standards of operations and non-interoperability of technologies, as well as the high cost associated with it.If the LiDAR market were at a different stage of its evolution, these restraints could hinder market growth.
However, it is expected that further technological advances will bring cost corrections and thatstandards of operation will improve. The key opportunities for the market are in the adoption of LiDAR by small and medium-size enterprises (SMEs) and superior growth potential in emerging economies.Once the cost of LiDAR is reduced, SMEs and emerging economies are forecast to deploy these devices in various
application sectors in big numbers. The market revenue was $REDACTED billion in 2019 and is expected to reach nearly $REDACTED billion in 2025, growing at a CAGR of REDACTED% during the forecast period.
The types of LiDAR available on the market are airborne, terrestrial, mobile, and UAV.Currently,airborne LiDAR is the most commonly used; therefore, this segment had the largest revenue share in2019, at $REDACTED million, and will remain the largest market, expected to reach $REDACTED billion by 2025.
The mobile LiDAR market is expected to have the highest CAGR at REDACTED% for the period of 2020.through 2025
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).North America had the highest revenue in the market in 2019 at $REDACTED million and it is expected to continue to dominate the revenue share, with a value of $REDACTED billion in 2025.
Since North America is a technologically advanced region, the LiDAR technology initially formed a strong base in the region.However, the Asia-Pacific region is expected to have the best market potential to grow, with a projected CAGR of REDACTED% during the 2020 through 2025 period.
This growth potential is due to the fact that emerging nations in this region are involved in heavy industrialization.
Read the full report: https://www.reportlinker.com/p05136800/?utm_source=GNW
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