Albany, New York, Dec. 16, 2014 (GLOBE NEWSWIRE) -- According to a new market report "LiDAR Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" published by Transparency Market Research, the global LiDAR market is forecast to reach USD 605.5 million by 2020. Some of the factors responsible for growth of LiDAR market are increasing demand for 3D imagery in consumer, commercial and government applications and comparative advantages of LiDAR technology over traditional mapping and surveying methods. Further, in the recent years, there has been a significant reduction in the price of LiDAR devices, which is further aiding the LiDAR growth.
Browse the Research Report for LiDAR Market with complete TOC: http://www.transparencymarketresearch.com/lidar-market.html
Global LiDAR market was valued at USD 225 million in 2013. The market revenue is anticipated to grow at a CAGR of 15.3% from 2014 to 2020. The market is segmented by product types into airborne and terrestrial LiDAR systems. On the basis of application, the market is segmented into coastal, forestry, transportation, infrastructure, defense and aerospace, transmission lines, flood mapping and others (mining etc.). Airborne LiDAR segment dominated the market in 2013 whereas by application, coastal applications of LiDAR accounted for majority of the market share.
Geographically, North America represented the largest market for LiDAR and the region is expected to witness good growth in the coming years. This is due to high research and development spending coupled with high adoption in the government sectors. Further, Europe follows North America by a small margin and this region is expected to see good growth over the forecast period owing to rising consumer adoption and increase in the number of new product launches by key players operating in this region.
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Some of the major players in the LiDAR market include 3D Laser Mapping Ltd., Aerometric Inc., Avent Lidar Technology, Airborne Hydrography AB, DigitalWorld Mapping Inc., Firmatek 3D Mapping Solutions LLC, FARO Technology, Inc., Intermap Technologies Corp., Leica Geosystems AG, Mosaic 3D, Optech Incorporated and RIEGL Laser Measurement Systems GmbH among others.
This report analyzes the global LiDAR market in terms of revenue (USD million). The market has been segmented as follows:
Global LiDAR Market, by Product Type:
- Airborne LiDAR
- Terrestrial LiDAR
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Global LiDAR Market, by Application:
- Defense and Aerospace
- Transmission lines
- Flood Mapping
- Others (Mining, Hydrography etc)
Global LiDAR Market, by Geography:
- North America
- Asia Pacific
- Rest of the World
Browse Light Detection and Ranging (LiDAR) Market report Press Release: http://www.transparencymarketresearch.com/pressrelease/lidar-market.htm
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Source:Transparency Market Research