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(IT-NEWSWIRE.COM, June 25, 2018 ) GLOBAL LIDAR MARKET is valued at USD 1.6 billion in the year 2017. Global LiDAR Market is further estimated to grow at a CAGR of 22.4% from 2017 to reach USD 3.4 billion by the year 2023. North America region holds the highest market share in 2017 and North America market is considered as the fastest growing market in the forecasted period. At a country level, the U.S. holds the highest market share in 2017 and it is projected to grow at a strongly in the coming years.
Quantum Spatial (Aerometric, Inc.) (U.S), Velodyne LiDAR (Canada), Optech Inc. (Teledyne Technologies Inc.) (U.S), 3D Laser Mapping (U.K), Leica Geosystems AG (Switzerland), Topcon Positioning Systems, Inc. (U.S), Quanergy Systems Inc. (Canada), RIEGL Laser Measurement Systems GmbH (Austria), Firmatek LLC. (U.S), are some of the key players in the Global LiDAR market. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, merger, and expansion of the distribution network were few techniques adopted by most of tier 1 and Tier 2 manufacturers in recent years.
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Drivers:
Government regulations for Lidar
Implementation of new application
Restraints:
Expensive price of LiDAR
Opportunities:
LiDAR offered highly by automotive sector
Challenges:
Limitation in environment.
The major shares of the market comes from Construction and Engineering sector in Global LiDAR Market. As in Engineering and Construction investment are more for the utilization.
On the other hand, Corridor mapping for this market is expected to grow at highest CAGR during year 2018-2023.
Key Benefits for Stakeholders
LiDAR Manufacturers, Suppliers
Research and Consulting Firms,
Raw Material Manufacturers, End use industries
Regulatory bodies.
By Product Type
Ground-Based LiDAR
Aerial LiDAR
Solid-State LiDAR
UAV LiDAR
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By Application
Cartography
Engineering
Corridor Mapping
ADAS and Driverless Cars
Environment
Oil, Gas & Mining
Tourism and Parks Management
Others
By Region
North America
Europe
Asia-Pacific
RoW
Key Market Players
Quantum Spatial (Aerometric, Inc.)
Velodyne LiDAR
Optech Inc. (Teledyne Technologies Inc.)
3D Laser Mapping
Leica Geosystems AG
Topcon Positioning Systems, Inc.
Quanergy Systems Inc.
RIEGL Laser Measurement Systems GmbH
Firmatek LLC.
Mediatek Inc.
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Source: EmailWire.Com 
Source: EmailWire.com
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