LiDAR Market Analysis-Strategic Business Report And Forecasts To 2020

Growing demand for 3D imagery across several applications including civil engineering, military & defense, topographical surveys, and corridor mapping is expected to significantly drive the LiDAR market over the forecast period. A projected reduction in LiDAR prices is expected to play a pivotal role in market growth over the next six years.

LiDAR has proved as a preferred substitute to photogrammetry owing to its inherent characteristics such as improved automated processing ability and high accuracy. 3D airborne imaging, hyperspectral imaging, and multisensor intelligence networks have been catalysts for the shift towards the systems. 

Growing need for critical mapping data and 3D imagery in government and defense sectors is expected to drive the market. Environmental applications such as fisheries monitoring, near-surface soil content, vegetation health, and wetlands remediation are expected to open up new market opportunities. Technological advancements in GPS and inertial navigation systems coupled with automation in LiDAR systems’ processing steps are expected to be a propellant force for market growth. Effective data use in new application areas such as coastal erosion, minefield mapping, and roadway corridor planning is expected to favorably impact LiDAR market.

Leading players in the LiDAR market have focused on new component development initiatives and establishment of wide distribution networks. Mergers & acquisitions and strategic partnerships are expected to play a pivotal role in business expansion. Key market participants include 3D Laser Mapping, AeroMetric, Airborne Hydrography, FARO Technologies, and Firmatek.

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