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Lidar Market Set for Expansion

Photonics.com
Dec 2016
OCEAN VIEW, Del., Dec. 13, 2016 — The global lidar market is expected to reach $1.1 billion by 2023, according to a new report by Global Market Insights Inc.

Rising urbanization and large-scale infrastructural development will contribute to the growth of the market size over the forecast timeline. Heavy investments in infrastructural development and strategic alliances will remain the key strategies in the ecosystem.

The U.S. lidar market size was valued at over $85 million in 2015, and is expected to grow 9.3 percent by 2023. Increasing adoption of 3D imagery by the U.S. government and the advent of industrial automation are cited as reasons for industry growth.

Increasing acceptance in automobile safety application, environmental mapping arenas, rising acceptance in the corridor mapping and civil engineering for monitoring and 3D-modeling applications will also be factors in the expansion.

Global Market Insights is a market research and strategy consulting firm.

GLOSSARY
lidar
An acronym of light detection and ranging, describing systems that use a light beam in place of conventional microwave beams for atmospheric monitoring, tracking and detection functions. Ladar, an acronym of laser detection and ranging, uses laser light for detection of speed, altitude, direction and range; it is often called laser radar.
lidarGlobal Market InsightsAmericasBusinessindustrial

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