Global LiDAR Market, Size, Share, Market Intelligence, Company Profiles, Market Trends, Strategy, Analysis, Forecast 2018-2023
LiDAR (Light Detection and Ranging) is a surveying method, which is used to measure a target by illuminating the target by pulse laser light. The pulse of the LiDAR can contain up to 400,000 signals per seconds. By the time of observation and wavelength of the signal, a 3D representation can be prepared by the system. Major factor for the growth of the global LiDAR market is its accuracy over the other technologies and widespread application area.
More accuracy than other technologies, wide range of application, and higher data density are likely to act as driving forces for the global LiDAR market. The utilization of LiDAR technology has been increased significantly in automotive industry in recent time. Big market players such as Google’s parent company Alphabet and Uber are testing driverless vehicles with the use of LiDAR technology. Another advantage of the LiDAR technology is that it is independent of weather and light. The increasing investments in LiDAR technology by governments and the private firms as well as; increasing in the use of drones is expected to move the market in a positive direction. However, high cost, available alternatives technologies and lack of awareness are the key reasons, which could restrain the growth of the LiDAR market.