Lidar Market Is Expected to Reach $624.9 Million, Global, by 2020 - Allied Market Research

According to a new report by Allied Market Research titled, "Global LiDAR Market - Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 - 2020", the global LiDAR market is expected to reach $624.9 million by 2020, registering a CAGR of 16.3 % during 2014 - 2020. Aerial LiDARs would drive the market significantly by the year 2020, contributing to about 1/2 of the total market revenue throughout the forecast period. Corridor mapping applications of LiDAR are a major market driving force, contributing to more than 50% of the total market size by value in 2013.

Among all types of LiDARs which include aerial, mobile, terrestrial and short range; the aerial LiDARs should remain the most preferred type due to their numerous applications in civil engineering, archaeology and forest land management. The civil engineering applications significantly drive the market with the usage of LiDAR in infrastructure planning. The transportation applications of LiDAR would rise rapidly during the forecast period, primarily for vehicle monitoring purposes. Moreover, emerging transportation applications such as driverless cars would begin to gain traction by 2020. The technology giants such and Google and Apple are eyeing the driverless cars market. For instance, Google recently demonstrated its first driverless car. Following the trend, in future there would be numerous players operating in driverless car market.

To view the report, visit the website at http://www.alliedmarketresearch.com/lidar-market

The corridor mapping applications presently are the major market drivers. For modern age infrastructure planning and disaster management, corridor mapping is performed using LiDAR technology. The North American region would continue to dominate the LiDAR market throughout analysis period. However, with rising applications in civil engineering, defence and forestry & agriculture, Asia-Pacific market would witness rapid growth.

Key findings of the study:...