Light Detection and Ranging (LIDAR) Market Future Trends With Growth Opportunities by 2023
Light detection and ranging (LiDAR) is an advanced position detection technique. It is used in measurement of accurate and precise positions of physical objects. In LiDAR technology, a guided laser beam is used to locate the accurate position of an object to the scanner of the LiDAR system.
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Based on product type, the Light detection and ranging market is segmented as airborne LIDAR, terrestrial LIDAR, mobile LIDAR, and short range LIDAR. On the basis of applications, the market is segmented as government, civil engineering, military, defence, and aerospace, corridor mapping, topographical surveys, volumetric mapping, and other applications. Based on components of LIDAR, the market can be segmented as inertial navigation system, laser diode, GPS/GNSS receiver, camera, mems mirror and others.
One of the predominant drivers of the global LIDAR market particularly in civil engineering and aviation applications is performance benefits offered by LIDAR system over photogrammetric or survey methods. The surge in infrastructural projects in developing countries such as China, Brazil, and India is also boosting the global LiDAR market. The growing application of light detection and ranging (LiDAR) based mobile mapping technology in civil survey and construction industry is expected to provide new market opportunity for the LiDAR market during the forecasted period.
North America is the largest market of LiDAR followed by Europe and Asia-Pacific. The market dominance of North America is attributed to wide use of LiDAR system in commercial and defence aviation sectors. Asia-Pacific is the fasted growing market of LiDAR system, owing to the increasing demand of the LiDAR system from the civil construction and mining industries. Also, the increasing defence budget of developing countries, such as China and India, is further boosting the market of LiDAR system in this region.
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Some of the major competitors in the global LiDAR market are Airborne Hydrography Ab, Digitalworld Mapping, Trimble Navigation Limited, Aerometric, Firmatek, IGI MBH, Leica Geosystems, Optech, Raymetrics, and Avent Lidar Technology.
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