Global LiDAR Market Research and Forecast 2018-2023

Posted by Orion Market Research on July 20th, 2018

LiDAR Market (Light Detection and Ranging). LiDAR is a surveying method, which is used to measure a target by illuminating the target by pulse laser light. The pulse of the LiDAR can contain up to 400,000 signals per seconds. By the time of observation and wavelength of the signal, a 3D representation can be prepared by the system. Major factor for the growth of the global LiDAR market is its accuracy over the other technologies and widespread application area.

More accuracy than other technologies, wide range of application, and higher data density are likely to act as driving forces for the global LiDAR market. The utilization of LiDAR technology has been increased significantly in automotive industry in recent time. Big market players such as Google’s parent company Alphabet and Uber are testing driverless vehicles with the use of LiDAR technology. Another advantage of the LiDAR technology is that it is independent of weather and light. The   increasing investments in LiDAR technology by governments and the private firms as well as; increasing in the use of drones is expected to move the market in a positive direction.  However, high cost, available alternatives technologies and lack of awareness are the key reasons, which could restrain the growth of the LiDAR market.

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The global LiDAR market is geographically segregated into Europe, North America, Asia Pacific, and Rest of the World (RoW). North America dominates the global LiDAR market in terms of revenue and expected to show highest growth rate across the globe. The major economies contributing the North American market are the US and Canada. The main factor of dominance is well established infrastructure, center of technologically advancement firms such as Silicon Valley, and various space programs. Space exploration, automotive, military & defense, energy sector, environment & mining are the major sectors where a significant market growth can be expected. In the APAC region economies such as Japan, India, and China are expected to show market growth once the technology is completely developed.

Browse full report at: https://www.omrglobal.com/industry-reports/global-lidar-market/

The report includes detailed market overview, market determinants, company profiling, sector analysis, market segmentation, geographical analysis, patent analysis, strategic recommendations, key company analysis, key findings, market estimations, market insights, analyst insights and predictive analysis of the market.

Key players of LiDAR market are 3D Laser Mapping Inc., Aerometric Inc., Airborne Hydrography AB, AutonomusStuff LLC, Beijing Beike Technology Co., Ltd, and Faro Technologies Inc. Big market players are also investing in this technology. For instance, Bosch GmbH has plans to enter the market by 2020. The report covers overview about the companies, their recent product launches, merger with another firms, acquisition by the company and disinvestment of the company.