The global LiDAR market grow at the highest CAGR of 23.9% during 2016 - 2022


Posted April 25, 2017 by aniket

In the global LiDAR market, North America represented more than 45% of the overall market revenue, followed by Europe, with around 33% revenue share in 2015.
 
LiDAR Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $921.2

million by 2022, registering a CAGR of 18.5% during the period 2016-2022. Increasing adoption of LiDAR systems in various

applications, such as precision farming, media and entertainment, and commercial applications is the major factor driving

the market growth.

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The LiDAR market is categorized based on type, component, application, and end user. Among types, the aerial LiDAR

dominated the market with more than 50% share in 2015, and is expected to continue its dominance throughout the forecast

period owing to its numerous applications in civil engineering, archaeology and forest land management. From a growth

perspective, terrestrial LiDAR segment is projected to grow at the highest CAGR of 23.9% during 2016 - 2022.

By component, the laser segment dominated the market with around 39% share in 2015 and is expected to maintain its

dominance throughout the forecast period due to increasing applications of near-field lasers enabled LiDAR systems in the

defense sector.

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Application wise, corridor mapping, and exploration and detection segments collectively accounted for more than 80% share

of the overall market value in 2015, with corridor mapping constituting around 50% revenue. For modern age infrastructure

planning and disaster management, corridor mapping is performed using LiDAR technology.

Among end users, the civil engineering segment dominated the market in terms of spending on LiDAR systems, followed by

forestry and agriculture segment in 2015. The civil engineering applications significantly drive the market with the usage

of LiDAR in infrastructure planning. Expenditure on LiDAR systems by the transportation sector is expected to grow at the

highest CAGR, primarily for vehicle monitoring purposes and emerging transportation applications such as driverless cars.

Key findings of the LiDAR Market:

The global LiDAR market is likely to grow at a double-digit rate in the future owing to increasing demand for aerial LiDAR

from the various end user sectors.

The aerial segment accounts for a major share in this market.

The application of LiDAR in the transportation sector is anticipated to expand at the highest CAGR of 23.5% from 2016 to

2022.

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North America is the highest revenue-generating region in this market.

The major players in this market include Airborne Hydrography AB, Leosphere SaS, Faro Technologies Inc., Leica Geosystems

Inc., 3D Laser Mapping Inc., Firmatek LLC, RIEGL Laser Measurement Systems GmbH, Aerometric Inc., Mira Solutions Inc.,

Optech Inc., and Quanergy Systems, Inc. These players consistently invest in R&D to come up with enhanced products and

solutions. In addition, strategic mergers and acquisitions are some of the other major strategies followed by prominent

players to expand their market presence and gain a competitive edge.
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5933 NE Win Sivers Drive #205, Portland, OR 97220 United States
Country United States
Categories Construction , Services , Technology
Tags aerial , lidar market , mobile , shortrange , static
Last Updated April 25, 2017