Nowadays LIDAR is used everywhere across all the important applications. For instance, terrestrial uses LIDAR which is infrared laser with approximately 900–1064 nanometers and water penetration green light with approximately 532 nanometers for the water measurement. The usage of LIDAR Market systems has made detection and mapping of objects easier than other conventional methods. LIDAR stands for light detection and ranging it is basically remote sensing. LIDAR does not require electromagnetic radiation, but it requires laser pulses that strike the object back to the sensor.
The key factors contributing to the growth of the LIDAR market are data processing technologies over other technologies, automated systems in LIDAR, adoption of aerial LIDAR and emergence of new applications. Also, the growth in this market can be attributed to the encouragement from the governments, application of LIDAR in engineering projects & large magnitude set and rise in demand for robust security and sensor accuracy.
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Other factors contributing to the growth of the market are rising demand of 3D imaging across various applications. However, less awareness about the benefits of LIDAR systems, use of expensive components in LIDAR systems i.e laser scanners, navigation system, high-resolution 3D cameras which collectively increases the cost of LIDAR systems are hampering the growth of the overall market. Also, over the forecast period LIDAR market would pose a higher impact on the increasing number of automated cars.
The key players in the global lidar market include Faro Leica Geosystems (Sweden), Technology (U.S.), Velodyne LiDAR, Inc. (U.S.), Beijing Beike Technology Co., Ltd (isurestar) (China), Riegl Laser Measurement Systems GmbH (Austria), Quantum Spatial (Aerometric, Inc.) (U.S.), Teledyne Optech Inc. (Canada), YellowScan (France), Geokno India Pvt. Ltd. (India), Trimble Inc. (U.S.), and others.
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.
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Out of these components, GIS accounted for the largest market share majorly due to increasing demand for GIS services in canopy height estimation, forest planning, and harvesting planning applications. They are majorly adopted by the government for the forest management and for planning crops.
Also, the market for laser scanners is increasing due to the technological advancement in laser technology. It is also growing due to a rising demand for ground-based LIDAR.
By Region, MRFR analysis shows that, North-America accounted for the largest market share, because of the increasing investment by various firms towards ADAS and driverless cars and also provides new opportunities for small, versatile, and low-cost LIDAR systems.
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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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