TechNavio, a tech-focused research firm has published a new report on the Global LiDAR Market, which is expected to grow at a CAGR of 19.2 percent from 2014-2018.
“Advances in technology have made LiDAR more accurate and affordable, thus resulting in an increase in its use in many new applications like flood zone mapping and measuring landslide potential”
According to the latest report from TechNavio, advances in LiDAR technology are a major driver behind the growth of the Global LiDAR market. Developments in global positioning system (GPS) and inertial navigation unit (INU) technologies—two essential components—have helped light detection and ranging (LiDAR) technology become more commercially feasible.
“Advances in technology have made LiDAR more accurate and affordable, thus resulting in an increase in its use in many new applications like flood zone mapping and measuring landslide potential,” says Faisal Ghaus, Vice President of TechNavio.
The TechNavio report also emphasizes advancements that have resulted in an increase in the number of application areas for LiDAR technology. Both airborne and terrestrial LiDAR systems are finding new applications like digital surface modeling and long-range imaging, thus leading to growth of the overall market.
“Furthermore, LiDAR providers are working to standardize the technology worldwide, while also providing customized solutions for specific client requirements,” says Ghaus.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
About TechNavio
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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