Global Terrestrial Laser Scanning Market: Snapshot
A key driver for the growth of terrestrial laser scanner manufacturers is the strong demand by application industries for greater product quality and efficiency. Using terrestrial laser scanners is vastly improving the rate of data capture, accuracy of measurement, and ease of positioning. Terrestrial laser scanners can also apply 3D scanning techniques for a much higher resolution of measurements than any other measurement technology present today. The use of 3D terrestrial laser scanners also helps reduce the time and cost of most projects, a factor increasingly valued by application industries such as construction and BIM in the current boom in construction projects.
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Another key value added by terrestrial laser scanners to industrial transportation, and residential sectors is safety. These scanners can provide real-time data on objects and structures by measuring a large number of points within a short span of time, thus allowing quicker calculations to occur while constructing highways, buildings, and even during surveying.
The global terrestrial laser scanning market is expected to progress at a CAGR of 14.9% in terms of revenue, from 2015 to 2024. By the end of 2016, this revenue is expected to reach US$958.95 mn and is expected to be valued at US$2.52 bn by the end of 2024.
APAC Retains Lead in Terrestrial Laser Scanner Market Value
By the end of 2024, Asia Pacific will hold a share of 31.81% in the global terrestrial laser scanners market. This is a major increment from its market share from 2014, and is attributed to the overwhelming rate of use in the region’s booming construction industry after 2000. The Asia Pacific market for terrestrial laser scanners is boosted by the strong demand shown by China, Australia, and Malaysia and their fast-growing construction industries.
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The Asia Pacific region is not only base for a large number of key players in the market, but is also showing an increased demand for 3D terrestrial laser scanners, a factor which will help compliant players in the near future in terms of procuring demand. India, Japan, and Australia are particularly expressing a high demand for solid-state terrestrial laser scanners, while China is expressing a high demand for diode terrestrial laser scanners. China and Japan are also showing a speedy increase in demand for fiber terrestrial laser scanners.
Phase-shift Scanner Technology Continues to Dominate Global Terrestrial Laser Scanners Market Despite Falling Shares
Phase-shift scanners have enjoyed the leading position in demand and revenue among all terrestrial laser scanners. This technology is, however, showing a reduction in demand, owing to the introduction and development of newer and more efficient technologies, such as pulse-based scanners and optical triangulation. Despite that, phase-shift scanners will continue leading market value share, owing to high accuracy over long distances, a much older presence in the market due to which users are more used to it, and the consistently high demand from the industries of construction, oil and gas, fabrication, and agriculture.
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Pulse-based terrestrial laser scanners are commonly used in ship inspection and fault detection in plant equipment. A growing number of users are preferring pulse-based terrestrial laser scanners due to the 360-degree scanning that they can provide.
The key players that provide terrestrial laser scanning equipment on a global scale include Faro Technologies, Inc., Blom ASA, Fugro N.V., Ametek, Inc., Maptak Pty. Ltd., Trimble Navigation, Limited, and Leica Geosystems HDS, LLC.
Thriving Construction Sector to Propel the Growth of the Terrestrial Laser Scanning Market
The terrestrial laser scanning market is expected to gain considerable growth opportunities across the assessment period of 2015-2023. The rising urbanization at a rapid rate across numerous regions will act as a foundation of growth for the terrestrial laser scanning market. The demand for surveys in the infrastructure industry may further add extra stars of growth,
- Terrestrial laser scanning systems, generally known as light detection and ranging (LiDAR) have the functionality of firing a laser beam from a transmitter and capturing the reflected light by a receiver. This method is a technique used for deriving real-time data of large to small objects in a short duration. This technique became popular in the early 2000s and was ubiquitously used for modeling and surveying structures of a building or a factory.
- The penetration of terrestrial laser scanning across niche applications will boost the growth opportunities through the assessment period. The government bodies of various countries are designing various schemes and initiatives for providing affordable housing for all. The emergence of novel infrastructural policies will serve as growth multipliers for the terrestrial laser scanning market.
- Swift industrialization across a large number of countries will further bring immense growth opportunities. The influx of foreign investments in developing economies is assisting in boosting the growth prospects. The growing use of terrestrial laser scanning for inventory creation and mapping will lay a red carpet of growth.
- The coronavirus outbreak has led to extensive losses. The pandemic has changed the growth projections of a large number of businesses and sectors. The terrestrial laser scanning market is no stranger to this loss. The lockdown impositions by diverse countries led to growth damage across the terrestrial laser scanning market to a great extent. The introduction of lockdown restrictions will help in reigniting the flame of growth.
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