Market Scenario:
LIDAR stands for light detection and ranging also called as remote sensing which uses laser pulses to accurately gauge the spatial profile of the object under study. Thus LIDAR substitutes electromagnetic radiation with Laser for measurement owing to its greater accuracy, reflectance, and coherence. The term LIDAR, is an acronym of light detection and ranging. The global LIDAR market is anticipated to grow with a CAGR of 21 % during forecast period of 2016 to 2022.
Market Dynamics:
Drivers
Growing need for accurate surveying and growing application expanse such as geography, atmospheric research, meteorology, archaeology, astronomy, geology, seismology, and forestry is the prime driver of the market. The ability to develop high resolution 3-D maps and mapping hidden morphological structures not possible by conventional electromagnetic radiation is the critical need driving the market. The advantages of LIDAR such as ability to scan a wide range of materials, including both metals and non-metals objects, rocks, rain, chemical compounds, clouds, high accuracy, 3D scanning of images and others has led to an expanse of the market. The ability to measure physical features with very high resolutions is reflected by the fact that aerial LIDAR can map terrain at a resolution of 30-centimetre. The high potential of LIDAR makes it a critical technology needed for precision maneuverability of robots and space landing vehicles. Thus many nations have termed it a strategic technology as exemplified by the U.S. Geological Survey Experimental Advanced Airborne Research LIDAR. LIDAR has also found application in control and navigation for autonomous cars.
Other factors contributing to the growth of the market are advances in sensor technology, growing demand for automation, growing military expenditures and others.
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Restraints
High cost of installation and maintenance coupled with the high degree of secrecy owing to the strategic nature of the technology hinders development of the market.
Dominant Players:
The prominent players in the global LIDAR market include Faro Leica Geosystems (Sweden), Teledyne Optech Inc. (Canada), Trimble Inc. (US), Velodyne LiDAR, Inc. (US), Geokno India Pvt. Ltd. (India), Teledyne Optech Inc. (Canada), Riegl Laser Measurement Systems GmbH (Austria), Quantum Spatial (Aerometric, Inc.) (US), YellowScan (France), Beijing Beike Technology Co., Ltd (isurestar) (China), and others.
Segments:
For determining the precise path of the market growth, the global LIDAR Market is segmented by application, type, component, end-users and region.
Based on type, the market has been segmented by terrestrial, and airborne.
Based on component, the market has been segmented by laser, navigation, camera, GPS receiver, GSS receiver, MEMS, and others
Based on application, the market has been segmented by seismology, corridor mapping, exploration, and others.
Based on end users, the market has been segmented by oil & gas, transportation, mining, tourism, defense and aerospace, archaeology, and others
Based on region, the market has been segmented by North-America, Europe, Asia-Pacific, and Rest of the World.
Regional Analysis
North-America led by the U.S. Accounts for the largest share of the market owing to the faster uptake of new technology, development of military drones, presence of large players and others. The development of the experimental autonomous driving cars and LIDAR speed guns for the measurement of speed of vehicles is creating a greater demand for the market. The European region is led by Germany, France and the U.K. However the market is expected to shift in favor of the Asia Pacific region led by China and India. The Middle East and Africa market is expected to possess a smaller market with a fast growing CAGR owing to the growing mining industry of the region. The Middle East and Africa market is expected to be skewed in favor of Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
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