Light Detection Ranging Market Revenue Growth Defined by Heightened Product Innovation-Persistence Market Research
Light Detection and Ranging, popularly known as LiDAR (derived from the common term RADAR) is a sensing technology that makes use of light pulses in the form of a laser to measure variable distances from the Earth. A three dimensional information about the surface characteristics and shape of Earth is obtained using this technology. LiDAR technology helps mapping professionals and scientists to examine and study man-made as well as natural environments with precision, accuracy and flexibility.
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Early, the use of LiDAR was confined to the government and military applications. However, with technological advancements, and reductions in the manufacturing cost of LiDARs, it is heavily penetrating into the industrial as well as the commercial sectors. A few of the major applications catered by LiDAR technology include: volumetric mapping, mining, forestry, archaeology, geology, seismology, mining, topographic surveying, and corridor mapping among others. Additionally, light detection and ranging also encompasses the field of civil engineering with its applications in transportation, urban mapping and planning, infrastructure projects, and roadway planning among others. Currently, civil engineering and planning are the top revenue grossing applications for light detection and ranging systems. The LiDAR market is classified on the basis product type: airborne LiDAR, Terrestrial LiDAR, Mobile LiDAR and Short range LiDAR. However technological innovations are boosting the cost-benefit ratio of terrestrial and mobile LiDAR systems. Further, the LiDAR market may also be classified based on its components such as the inertial navigation system, GPS/GNSS, laser diode, camera and MEMS mirror.
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Currently, there is no potential substitute for the LiDAR technology. Moreover, market has witnessed increased rapid growth in the automation provided by the LiDARs, along with the technological superiority in its field of application. Owing to these reasons, the LiDAR market is anticipated to grow at a substantial rate in near future. FARO, introduced Focus 3D LiDAR Scanner, a newly added low end device to the...
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