Advantages over Conventional Mapping Drive Global LiDAR Market, Set to Grow at 15.3% CAGR
U.S.-based market research firm Transparency Market Research (TMR) announces the release of a new market study. The light detection and ranging, or LiDAR, market is the subject of TMR’s new research report, wherein the market is examined from all perspectives and conclusions drawn from expert analysis of reliable data are presented for the benefit of market stakeholders. The report is titled ‘LiDAR Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020’.The historical value of the global LiDAR market, taken in the base year 2013, was US$225 million. The market is expected to ride the rising wave of acceptance of LiDAR technology to expand to US$605.5 million by 2020. If said figures hold true, the market will achieve a CAGR in excess of 15% from 2014 to 2020.
Browse the full LiDAR Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020 report at http://www.transparencymarketresearch.com/lidar-market.html
The report uses primary and secondary information to size up the global LiDAR market. The data, gathered from company reports, industry-specific publications, et al, is then analyzed using trusted analytical tools such as Porter’s five forces analysis and market attractiveness analysis, and SWOT analysis. Thus, the dynamics between the buyers and sellers, branded and substitute products, and established and new entrants into the market are profiled in detail. This provides a comprehensive understanding of the global LiDAR market to established and prospective market players, in order to establish and expand their own niche in the market.The prime growth driver for the global LiDAR market, as found by TMR experts, is the supreme sophistication it offers in terms of refinement in mapping. This is a huge improvement over all conventional and presently used mapping technologies. Like any new technology, the LiDAR market is set for phenomenal growth, having overcome the primary hurdles of gaining the attention of the powers that be.
Demand for high-grade 3D mapping is high consumer, commercial, and government applications at present. The impending large-scale replacement of conventional mapping by LiDAR mapping technologies will boost the global LiDAR market in the forecast period.According to technology type, the LiDAR market is divided into aerial and terrestrial LiDAR, of which aerial LiDAR mapping took up a larger share of the overall market in 2013; the higher efficiency offered by aerial mapping is responsible for this.By application, coastal LiDAR accounted for the largest share of the global LiDAR market. Uses of LiDAR in coastal applications include ocean floor mapping and coastal habitat mapping. Other major applications taking up a major share in the global LiDAR market include forestry, transportation, infrastructure, flood mapping, transmission lines, defense and aerospace, and other minor applications such as mining and hydrography.
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North America leads the geographical segmentation of the global LiDAR market, just about holding the Europe market at bay. In the forecast period, the latter is expected to gain prominence, eroding the North America market’s dominance over the global market.The report details historical and projected statistics for all these segments of the LiDAR market, providing an all-encompassing view of the market.
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