LiDAR generally, stands for light detection and ranging or it can also be defined as laser imaging detection and ranging. It is a remote sensing method in which light is mainly used in the form of a laser to measure variable distances to the earth. It is a combination of 3D scanning as well as laser scanning hence sometimes it can be defined as 3D laser scanning. Some of the benefits of using LiDAR technology includes the ability to capture large amounts of area in a relatively small amount of time and low requirement of manual labor. Also, LiDAR mapping system uses the most convenient technique to cover or scan the area which is known as drone lidar survey.
Additionally, LiDAR systems collect information by sending thousands of pulses of light per second and by calculating the time it takes for the pulse to reach the LiDAR sensor. This results in the accurate analysis and 3D description of geometric structures. Moreover, LiDAR technology is being used in both manned and unmanned aerial systems. They are also used in inertial navigation systems to calculate the exterior orientation and for geo-referencing and in military & law enforcement for vehicle speed measurement. Apart from that, LiDAR technology is used for many applications in various domains such as archaeology, agriculture, infrastructure and automotive.
Global LiDAR Market: Key Players
The research study includes profiles of leading companies operating in the global LiDAR market. Key players profiled in the report include: Trimble Navigation limited, Faro Technologies, Inc., Quantum Spatial Inc., Velodyne LiDAR Inc., Sick Ag, Teledyne Optech, Riegl Laser Measurement Systems, Leica Geosystems Inc., GeoDigital and Beijing Surestar Technology.
Drivers for the Global LiDAR Market:
According to current market condition, the improved automated processing ability of LiDAR systems in terms of image resolutions and data processing capabilities over other technologies are the major factors that are presently driving the growth of the global market. Other factors that are supplementing the growth of LiDAR market as a whole are rising demand of 3D imaging technology across various application areas, and the increasing adoption of aerial LiDAR systems to explore and detect places, historic details, etc. Furthermore, the surging acceptance in environmental mapping and automobile safety application arenas is expected to boost market growth. The increasing acceptance in the construction and architectural sectors for monitoring and 3D-modeling applications is further anticipated to bolster market growth.
Opportunities for the Global LiDAR Market:
The LiDAR laser techniques offer various advantages to the industrial sector, including automotive, geographical survey, land mapping applications, and construction. It also offers all-round continuous visibility and highly accurate depth of information which acts as one of the propelling factors for greater adoption of LiDAR systems. In addition to that, the other various factors attributing to the growth of global LiDAR market are rising demand for the 3D imaging technology and increased adoption of LiDAR in government agencies. Furthermore, integrating solid-state LiDAR to self-driving cars will create opportunities for market players during the forecast period.
Restrains for the Global LiDAR Market:
On the other hand, less awareness about the benefits of LiDAR systems and the use of expensive components in LiDAR systems viz., laser scanners, navigation system, high-resolution 3D cameras, etc. collectively increases the cost of LiDAR systems. These factors are causing less adoption of LiDAR technology and restricting the growth of the LiDAR market.
Region Wise, Global LiDAR Market Analysis:
On the basis of region, global LiDAR market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Geographically, North America is expected to emerge as one of the leading regional markets owing to the rising R&D spending coupled with high adoption in the automotive sector and environmental scanning & modeling operations. North America region is followed by Asia pacific and Europe.
Global LiDAR Market: Product analysis
- Mobile & UAV
Global LiDAR Market: Application analysis
- Corridor Mapping
- Advanced Driver Assistance Systems (ADAS)
Global LiDAR Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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