By range, medium range is projected to register highest CAGR between 2019 and 2024
Medium-range LiDAR is used to detect objects in the range of 200–500 m. This LiDAR is used in engineering, mapping, environment, and exploration applications. Medium-range LiDAR is used where precision and cost-effectiveness are the primary concerns. These LIDAR sensors are used to provide 2D and 3D real-time data to easily identify objects within the range of 200–500 m. The market for medium-range LIDAR is expected to grow at the highest rate, driven by the use of medium-range LiDAR in engineering and construction applications.
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By service, GIS services projected to register highest CAGR between 2019 and 2024
GIS services capture and analyze geospatial data of applications, including forestry and vegetation mapping. GIS can help in data analysis, topological modeling, geometric networks, hydrological monitoring, and cartographic modeling. There has been an increasing demand from governments, which would help the further growth of GIS services.
Ground-based LiDAR segment to lead LiDAR market during forecast period
Ground-based LiDAR is expected to dominate the LiDAR market, by installation type. Ground-based LiDAR is adopted widely in applications such as environment, meteorology, corridor mapping, and ADAS & driverless cars, among others. Ground-based LiDAR systems cost less and have less stringent approval criteria for mapping and surveying applications, which leads to the larger size of these systems in the market.
Environment application to lead LiDAR market during forecast period
Short range LiDAR is expected to dominate the LiDAR market, by range. LiDAR is widely adopted in environmental applications for the surveying and monitoring of environmental resources. Laser scanning systems are suited for environmental monitoring applications from airborne carbon mapping to coastal monitoring surveys. LiDAR is widely adopted to survey and monitor environments in various applications, including forest management, coastline management, pollution modeling, agriculture, wind farms, and precision forestry.
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
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Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States