Dublin, Oct. 16, 2020 (GLOBE NEWSWIRE) -- The "LiDAR Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 To 2028" report has been added to ResearchAndMarkets.com's offering.
The market is forecast to grow at a compounded annual growth rate (CAGR) of 12.1% during the forecast period 2020 - 2028.
A growing interest in 3-dimensional imagery for navigation, positioning, and monitoring applications across diverse end-use verticals such as defense and aerospace, construction, disaster management, resource extraction, and power is driving the global LiDAR market.
The growing demand in diverse end-use verticals has been further aggravated by technological advancements in aerial platforms and imaging technology. In addition, increasing investments towards autonomous vehicles is expected to have a positive impact on the overall market demand.
As of 2019, airborne or aerial systems dominated the global Light Detection and Ranging (LiDAR) market. These systems accounted for over 50% of the global LiDAR market revenue in 2019 and are expected to exhibit steady growth during the forecast period 2020 - 2028. The dominance and anticipated growth of these systems can be credited to the benefits offered such as accuracy, ability to cover large areas quickly and offer in-depth local elevation information. On the other hand, terrestrial LiDAR systems are presumed to witness maximum growth, outpacing their equivalent during the forecast period 2019 - 2028. This can be attributed to the growing demand for UAV LiDAR systems in multiple application segments such as precision farming, entertainment, and media.
As of 2019, corridor mapping was the largest revenue contributing end-use segment in the global LiDAR market. Infrastructural development coupled with the mandates promoting the use of the technology during the construction of highways, railways, and roadways has been instrumental in driving the demand for LiDAR technology in corridor mapping applications.
For instance, in India, a mandate necessitates the use of LiDAR systems for all highway projects. In addition, LiDAR systems are increasingly being used for disaster control and management applications, especially in the coastal areas and for setting-up of power transmission lines. Furthermore, the rising popularity of autonomous vehicles is expected to drive the demand for LiDAR in the following years.
As of 2019, North America led the overall LiDAR market followed by Europe and the Asia Pacific respectively. The region accounted for over 35% of the global LiDAR market revenue and is anticipated to witness robust growth during the forecast period 2020 - 2028. The U.S. represents the largest individual LiDAR market worldwide.
The on-going research and expenditure to develop advanced LiDAR systems have been instrumental in pushing the uptake of LiDAR systems in the country, especially among defense and government agencies. Developed regions including North America and Europe are expected to witness comparatively better growth in the first half of the forecast period. On the other hand, Asia Pacific is anticipated to register maximum growth over the forecast period 2020 - 2028. The anticipated growth is expected to be majorly driven by demand from countries including India and China.
Key Topics Covered:
2. Executive Summary
2.1. Global LiDAR Market Snapshot
3. Global LiDAR Market Analysis
3.1. Global LiDAR Market Overview
3.2. Market Inclination Insights
3.2.1. Recent Trends
3.2.2. Future Outlook
3.3. Market Dynamics
3.4. See-Saw Analysis
3.5. Attractive Investment Proposition
3.6. Value Chain Analysis
3.7. Competitive Landscape
3.7.1. Market Share Analysis of Key LiDAR Manufacturers - 2019 (% Share)
3.7.2. Major Strategies Adopted
4. Global LiDAR Market Revenue, By Product Type, 2018 - 2028 (US$ Mn)
4.1. Market Analysis
4.2. Airborne LiDAR Systems
4.3. Terrestrial LiDAR Systems
5. Global LiDAR Market Revenue, By Component, 2018 - 2028 (US$ Mn)
5.1. Market Analysis
5.2. Laser Scanner
5.3. Navigation & Positioning
5.4. Other Components
6. Global LiDAR Market Revenue, By End-use Application, 2018 - 2028 (US$ Mn)
6.1. Market Analysis
6.2. Defense and Aerospace
6.3. Engineering (Urban mapping and planning)
6.4. Corridor Mapping
6.5.3. Flood Mapping
6.6. Transmission Lines
6.7. Autonomous Vehicles
6.8. Others (Mining, etc.)
7. North America LiDAR Market Analysis, 2018 - 2028 (US$ Mn)
8. Europe LiDAR Market Analysis, 2018 - 2028 (US$ Mn)
9. Asia Pacific LiDAR Market Analysis, 2018 - 2028 (US$ Mn)
10. Rest of World LiDAR Market Analysis, 2018 - 2028 (US$ Mn)
11. Company Profiles
11.1. Quantum Spatial (Aerometric, Inc.)
11.2. Leica Geosystems AG
11.3. Riegl Laser Measurement Systems GmbH
11.4. Faro Technology, Optech Inc.
11.5. Trimble Navigation Limited
11.6. 3D Laser Mapping
11.7. GeoDigital, Airborne Imaging Inc.
11.8. Avent Lidar Technology
11.9. Renishaw Plc
11.10. Michael Baker International
11.11. Sick AG
11.12. Topcon Positioning Systems, Inc.
11.14. Velodyne LiDAR, Inc.
11.15. Geokno India Pvt. Ltd
For more information about this report visit https://www.researchandmarkets.com/r/jz1std
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