Asia-Pacific (LiDAR)Light Detection and Ranging System Market Report, published by Allied Market Research, forecasts that the asia-pacific market is expected to garner $205.6 million by 2022, registering a CAGR of 25% during the forecast period 2016 - 2022. China is the leading LiDAR systems market in Asia-Pacific, followed by Japan. Factors such as increase in use of drones in various applications such as agriculture, cartography and corridor mapping, technological superiority of LiDAR systems over other conventional technologies, and rising demand for 3D imaging has increased the demand for mapping systems equipped with LiDAR.
Aerial/airborne LiDAR systems have a significant share in the Asia-Pacific LiDAR market due to their demand in defense and civil infrastructure applications. Among the other systems, which include terrestrial LiDAR, Mobile LiDAR and short range LiDAR; mobile systems are expected to witness the highest growth during the forecast period.
Laser component is the largest revenue contributor that accounts for over 36% of the overall revenue, throughout the forecast period. Lasers are projected to dominate the components segment of the Asia-Pacific LiDAR market due to emerging applications in meteorology and autonomous vehicles, which would drive use of lasers. Camera is anticipated to be one of the most lucrative segments, in terms of growth, with an anticipated CAGR of 33.0% from 2016 to 2022, owing to developing 3D imaging technologies.
Corridor mapping is projected to dominate applications segment accounting for around 48% share in 2015, because of an increase in the demand for various applications including urban modelling, flood mapping, and forestry and other applications. However, the seismology segment is expected to register a significant growth, with an anticipated CAGR of 34.9%.
The civil engineering end user segment portrays the highest revenue contribution owing to the awareness about the ease of data collection and processing through LiDAR systems. However, the transportation sector is projected to depict the fastest growth during the forecast period.
China exhibits the highest adoption of LiDAR technology in the Asia-Pacific LiDAR market. However, India is projected to offer lucrative opportunities to the market players, as this technology is expected to be adopted rapidly in infrastructure development activities. India is anticipated to grow with a promising CAGR of 28.5% during the forecast period.
Key findings of Asia-Pacific LiDAR Market:
- Aerial LiDAR is expected to exhibit significant growth due to the increased use of drones, during the forecast period.
- Laser component is expected to maintain the leading position throughout the study period.
- Industry participants aim to introduce new innovative products to improve their market share.
- The Asia-Pacific LiDAR market comprises dominant players such Airborne Hydrography, Faro Technologies, Leica Geosystems, and others. These companies have adopted strategies, such as product launch, research & development, acquisition, cooperation, and joint venture, to increase their market share and expand their geographical presence, specifically in Asia-Pacific.