North America Lidar Technology Market Forecast 2018-2026
KEY FINDINGS The North America LiDAR technology market accounted for the highest revenue share in 2017. The market is predicted to grow at a healthy CAGR of 22.28% over the forecast period of 2018-2026.
MARKET INSIGHTS The LiDAR technology is widely used in engineering & construction projects, geological surveys, transportation, and defence. Defence plays the major role while transportation is an upcoming sector for the application of this technology since past two years in the US market. It is predicted that the future of LiDAR market growth in the US will be driven by autonomous vehicles, manufacturing, and urban planning. In Canada, the LiDAR system applications are growing well with the expanding drone market in the country. The Governments of Canada will pull out initiatives towards autonomous vehicles which would require the aid of LiDAR systems, during the forecast period.
COMPETITIVE INSIGHTS Velodyne Inc, Optech Inc., Autonmoustuff LLC, FARO Technologies, Leica Geosystems Inc., Rigel Ltd., Teledyne Optech Inc., LiDAR Services International Ltd., Aerogeo Ltd., eagle Mapping Technologies Ltd., and Aero Geometrics Ltd. are some of the leading companies in this region.