NEW YORK, May 25, 2015 /PRNewswire/ -- The North American LiDAR market is estimated to reach $225.8 million by 2019. Canada is expected to grow at the highest Compound Annual Growth Rate (CAGR) of 26.3% during the forecast period. In the last decade, as LiDAR and related technologies have been developing, many potential applications and use of LiDAR data in industries such as forestry, state and local government, emergency response/disaster mitigation and management, natural resources management, mining, oil and gas exploration, urban mapping and development, telecommunications, power supply, and others, have been discovered.
In this report, The North American LiDAR market has been broadly classified into product type such as airborne LiDAR, terrestrial LiDAR, mobile LiDAR, and short-range LiDAR. The short-range LiDAR market segment is estimated to grow at the highest CAGR from 2014 to 2019.
Short-range LiDAR comprises the similar technology as that of other LiDAR types; however, its applications vary. Many applications such as building documentation, asset management, accident reconstruction, crime scene analysis, simulation, reverse engineering, and nondestructive testing do not need long-range LiDAR systems.
Regionally, the U.S. is estimated to command the largest share in the North America LiDAR market. The North America LiDAR market is primarily driven by factors including automation in all steps of processing. One of the biggest drivers for LiDAR systems in the last decade has been the advent of industrial automation. The growth has mainly been driven by the need for automation compatibility in various segments and application sectors wherein the LiDAR technology is used.
The North America LiDAR market is driven with a number of market players with niche technologies. As of 2014, the North America key market players are Trimble Navigation Limited, Optech, Velodyne LIDAR, Faro Technology, Inc., and Leica Geosystems. These companies are adopting new product developments, partnerships, agreements, collaborations, and joint ventures as their major strategies to achieve growth in the LiDAR market.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis such as industry analysis, market share analysis of top players, company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the LiDAR market, high-growth regions and countries and their respective regulatory policies, government initiatives, drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help the firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on LiDAR offered by the top 5 players in the LiDAR market
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the LiDAR market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various LiDARs across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the LiDAR market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the LiDAR market
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