LIDAR Market to Fly High making 10.8% of CAGR by 2024 Worldwidejohndsouzaind | March 25, 2019 | 0 | Automotive & Transportation , Construction and Manufacturing , Machinery and Equipments , Technology
Light Detection and Ranging LIDAR Market 2019-2024
Light Detection and Ranging LIDAR , also written lidar, LiDAR or LADAR, is a remote sensing technology that measures distance by illuminating a target with a laser and analyzing the reflected light. LIDAR is popularly used as a technology to make high-resolution maps, with applications in civil engineering, forestry & agriculture, transportation, urban mapping, etc. What is known as LIDAR is sometimes simply referred to as laser scanning or 3D scanning, with terrestrial and airborne applications.
As for the global Lidar industry, the industry structure is relative concentrated. The most of market share in production value is dominated by the top three giants Leica Geosystems, Trimble and Optech, which occupies closes to 65% totally in 2015. In the meantime, new entrants are emerging in this market, eroding the market share of traditional player as more applications are developed and diverse models are demanding in the market.
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Key market drivers are the better performance than other technologies and ring demand for 3D mapping, as well as emerging supply market force for cheaper and better equipment to challenge current players.
Europe is holding the lion’s share globally in technology and production, while North America is the largest consumption area. Other emerging countries, like China and India, are increasing Lidar in various applications.
Despite the presence of competition problems, due to the Lidar’s special technology advantage in application, especially in unmanned automotive and 3D mapping, investors are very optimistic about this area; in future there will be more new investments into this industry.
Although sales of Lidar brought a lot of opportunities, the study group recommends the new entrants just having money but without technical advantage and downstream support do not to enter into the Lidar field.
According to this study, over the next five years the Light Detection and Ranging LIDAR market will register a 10.8% CAGR in terms of revenue, the global market size will reach US$ 470 million by 2024, from US$ 250 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in Light Detection and Ranging LIDAR business, shared in Chapter 3.
This report presents a comprehensive overview, market shares, and growth opportunities of Light Detection and Ranging LIDAR market by product type, application, key manufacturers and key regions and countries.
This study considers the Light Detection and Ranging LIDAR value and volume generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Forestry & Agriculture
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
3D Laser Mapping
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Light Detection and Ranging LIDAR consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Light Detection and Ranging LIDAR market by identifying its various subsegments.
Focuses on the key global Light Detection and Ranging LIDAR manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Light Detection and Ranging LIDAR with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks .
To project the consumption of Light Detection and Ranging LIDAR submarkets, with respect to key regions along with their respective key countries .
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
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Name: Jennifer Daniel
Organization: Planet Market Reports