(PRWEB) October 26, 2014
The total LiDAR market which is currently valued at $ 218.87 million expected to grow at a CAGR of 16.64% from 2013 to 2018 and reach 551.26 million in 2018.
The term ‘LiDAR’ is an acronym for ‘Light Detection and Ranging’, which has been derived from the common term ‘RADAR’. LiDAR technology has been around in the military and research circles since the early 1950s. A typical LiDAR system mainly consists of three major components: a laser sensor, a Global Positioning System (GPS) unit, and an inertial navigation unit. The LiDAR system sends out laser pulses at the object/area to be mapped, and collects data by recording the pulses reflected by/from the object. In certain instances, as many as 100,000 such pulses are sent out every second.
Early LiDAR systems were very bulky and thus, they were very expensive to operate. In the last two decades, technological progress has brought the size of a LiDAR system down to a point where, LiDAR, as a technology, has become a very accurate and affordable solution. The advancement in the GPS and inertial navigation unit technologies has also propelled the LiDAR market further.
Complete report is available at http://www.reportsnreports.com/reports/269276-lidar-market-by-components-ins-laser-gps-gnss-camera-mems-product-types-airborne-mobile-terrestrial-applications-corridor-mapping-forestry-mining-topographic-surveying-volumetric-mapping-analysis-forecast-2013-2018-.html .
The report segments the LiDAR market on the basis of different types of products, technologies, components used, applications, and geographies. Further, it contains revenue forecast, and analyses trends in the market. The geographical analysis contains an in-depth classification for North America, Europe, and APAC; which consists of major countries covering the market. Further, the Middle-East and Latin America have been classified under the ROW region. Each of these geographies has been further split by the major countries existing in this market. The sections and the sub-segments in the report contain drivers, restraints, opportunities, current market trends, and the technologies expected to revolutionize the LiDAR domain. The report also gives detailed profiles of various companies, currently, active in these markets. In addition to the company profiles, the report does provide a Competitive Landscape (CL) of the key players for each of the markets. The CL covers market share analysis, mergers and acquisitions, collaborations, partnerships, new product developments, and the key growth strategies of each player.
Major companies covered in the LiDAR market report are: Airborne imaging, Inc. (U.S.), Leica Geosystems (U.S.), Optech Incorporated (Canada), Trimble Navigation Limited (U.S.), RIEGL Laser Measurement Systems GmbH (Austria), and Renishaw Plc (U.K.).
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The maximum contribution currently is from the airborne LiDAR type. One of the reasons for the highest share of airborne LiDAR is its high average selling price. Also, as compared to other types, airborne LiDAR market is mature and, reliable. Thus, it is preferred by users for whom the budget is not a constraint. However, the airborne LiDAR market has the lowest CAGR among all the product types. This indicates the shift in trend in the light detection and ranging market. Due to innovations in terrestrial and mobile light detection and ranging systems, the cost-benefit ratio for these LiDAR types is expected to surpass that of airborne light detection and ranging system. It can be said that the terrestrial and mobile light detection and ranging systems are disrupting the airborne LiDAR market to some extent.
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