LiDAR Market to Surpass US$605 Mn by 2020 Fueled by Increased Demand from Coastal Applications

2024-11-01 08:17:41 News & Society

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Light Detection and Ranging (LiDAR) is an optical remote sensing technology that use laser light to examine surface on the earth to find variable distances on the earth. LiDAR is comparable to radar in certain aspects. However, LiDAR uses waves of shorter wavelengths unlike radar, which uses radio waves for measuring targets. The LiDAR technology uses waves typically in the visible, ultraviolet and infrared range. This technology enables direct measurement of 3D structures and underlying terrain with high resolution and high data accuracy. The capability of LiDAR equipments to achieve high resolution makes them superior to other traditional optical instruments used for measuring heights.

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The historical value of the global LiDAR market, taken in the base year 2013, was US$225 million. The market is expected to ride the rising wave of acceptance of LiDAR technology to expand to US$605.5 million by 2020. If said figures hold true, the market will achieve a CAGR in excess of 15% from 2014 to 2020. The global LiDAR market is primarily driven by the host of comparative advantages over conventional mapping technologies, growing demand for 3D imagery in commercial, consumer, and government applications, and the development of unmanned aerial vehicles. However, gaps in software development and lack of standardization of data formats threaten to impede the LiDAR market.

LiDAR systems offer significant cost and time saving capabilities, which have increased their adoption across many application areas. LiDAR systems have become more preferable over traditional mapping and surveying methods. The technology of photogrammetry has been replaced with LiDAR systems due to factors such as higher accuracy and light independency of LiDAR systems.

Key applications of LiDAR systems are observed in coastal, forestry, infrastructure, aerospace, defense, flood mapping, mining, and transportation sectors. Of these areas, coastal applications currently account for the highest share of demand observed for LiDAR systems across the globe. LiDAR systems are mostly used in coastal applications for disaster control and management in risky coastal lines. The power sector is a relatively new application area of LiDAR where these systems are used for setting up or laying out transmission lines. The adoption of LiDAR is also increasing in application sectors such as transportation, defense, aerospace, and infrastructure.

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On a geographic front, the LiDAR market observes the highest share of demand from the North American regional market. LiDAR systems have observed rapid adoption in these regions owing to the high investments in R&D activities and high penetration in the military and defense field due to government sanctions.

Some of the key vendors operating in the global LiDAR systems market include Aerometric Inc., DigitalWorld Mapping Inc., Avent Lidar Technology, Firmatek 3D Mapping Solutions LLC, 3D Laser Mapping Ltd., Airborne Hydrography AB, Leica Geosystems AG, FARO Technology, Inc., Intermap Technologies Corp., Mosaic 3D, RIEGL Laser Measurement Systems GmbH, and Optech Incorporated.

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