San Francisco, California, Dec. 23, 2015 — The global LiDAR market is expected to reach USD 944.3 million by 2022, according to a new study by Grand View Research, Inc. Technological advancements in automated processing ability in image processing and data processing capabilities are anticipated to be the major factors to spur growth.
Rising government initiatives towards the adoption of these systems and increasing automation leading to reduced human efforts are also expected to drive demand. The LiDAR market is expected to witness significant growth owing to large infrastructure investments along with the need for road mapping. Further, the segment is also expected to witness high growth due to increased penetration across wind projects, transportation agencies, and urban data acquisiton. Increased resolution by the use of mobile mapping as compared to airborne mapping is the result of reduced standoff distance.
LiDAR technology applications in government and commercial areas, which include railways, roadways management, and forestry, are also expected to spur growth owing to increasing demand for adoption of technology coupled with 3D imagery solutions over the forecast period. This technology has witnessed major evolutions with surge in eminence of laser beams driving the demand. 3D imaging and scanning are considered to be its major application, which are frequently used in the healthcare, manufacturing, and automotive sectors. It has successfully acquired the clientele of photogrammetry systems due to its higher accuracy and subtle operational deliverance. Surging applicability of UAVs in commercial operations is directly linked to industry growth.
Increased adoption of direct visualization using point splatting, façade modeling using LASERMAPs, and automated indoor modeling are some of key factors expected to drive the demand over the forecast period. Increasing speed of acquisition, better handling of sensors, and higher accuracy would have a major impact on the general use of low-cost mobile mapping systems.
Access full research report with detailed charts and figures: http://www.grandviewresearch.com/industry-analysis/lidar-light-detection-and-ranging-market
However, lack of knowledge among customers owing to negligence and loss of potential resources is expected to pose a challenge to industry growth. LiDAR systems for space-based active remote sensing of the earth face a number of challenges owing to high power requirement in various systems. Lack of ability to sense the environment and use of perceptual information for controlling the technology are the major challenges faced by the operators. However, flash systems based on multi-element and 2D sensor arrays yield 3D imaging data, but are restricted from installing in UGV and robotic platforms owing to high cost.
Further key findings from the study suggest:
Get free sample of this research report: http://www.grandviewresearch.com/industry-analysis/lidar-light-detection-and-ranging-market/request
Grand View Research has segmented the LiDAR market on the basis of product, application, component, and region:
LiDAR Product Outlook (Revenue, USD Million, 2012 – 2022)
LiDAR Application Outlook (Revenue, USD Million, 2012 – 2022)
LiDAR Component Outlook (Revenue, USD Million, 2012 – 2022)
LiDAR Regional Outlook (Revenue, USD Million, 2012 – 2022)
More reports of this category by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.