Ocean View, DE -- (SBWIRE) -- 05/18/2020 -- With escalating demand for 3D imaging solutions, the growth graph of LiDAR in mapping market is accelerating at a significant rate in recent years. The technology can potentially help reduce the risk associated with natural calamities like volcanic eruptions, earthquakes and floods. Several federal agencies have begun implementing LiDAR in mapping solutions to discover new oil and gas reserves. Companies usually prefer LiDAR mapping software as it aids in detecting suitable regions to build pipelines for the oil & gas sector.

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Meanwhile, private firms have started to implement LiDAR technology for mapping distant oil fields. Taking July 2019 for instance, Terra Drone Brazil, an oil & gas inspection services provider, conducted an extensive aerial LiDAR mapping for Petrobas, Brazil's state-owned energy firm. The platform helped Petrobas detect cracks, surface welding defects, and corrosions in its cargo & ballast tanks situated in the fuel storage units. This would help the energy company carry on its maintenance services on time.

Key Companies in LiDAR in Mapping Market: - Argo AI, Blickfeld GmbH, Cepton Technologies, Inc., FARO Technologies, Inc., Fugro N.V., GeoSLAM Ltd. (3D Laser Mapping), Hesai Technology, Innoviz Technologies Ltd., Leica Geosystems AG (Hexagon), LeddarTech, Inc., LeiShen Intelligent Systems Co., Ltd., Luminar Technologies, Inc., Ouster, Inc., Phantom Intelligence, Phoenix LiDAR Systems, Quanergy Systems, Inc., Tetravue, Inc., Topcon Positioning Systems, Inc., and Velodyne LiDAR, Inc.

On a geographical front, Asia Pacific is slated to be a lucrative LiDAR in mapping market in the coming years. Supportive initiatives geared towards strengthening disaster management systems, especially in emerging economies like China, Japan and India, could boost demand in the regional LiDAR in mapping market.

Citing recent instance, In 2017, Japan employed LiDAR mapping software to evaluate post-disaster damages that had occurred due to 2016's Kumamoto earthquake. Subsequently, the collected data was utilized for creating and implementing strategies to effectively distribute and deliver relief items during potential emergencies. LiDAR in mapping technology can also help in analyzing earthquake-prone regions in APAC and examine the effects of landslides triggered by such calamities.

Extensive use of LiDAR in mapping solutions in town planning is driving LiDAR in mapping market expansion in construction & surveying sector. Construction firms nowadays prefer LiDAR equipped UAVs to conduct survey-grade topographic mapping. Advantages like reduced operational costs and minimum human risks in harsh terrains are mostly encouraging firms to adopt this advanced technology.

Lately, federal agencies have also begun collaborating with major LiDAR in mapping solutions providers to conduct surveying & mapping activities. In June 2019 for instance, U.K.'s national mapping agency, Ordnance Survey, inked a deal with Terra Drone Europe to deliver LiDAR equipped UAV (multi-rotor, fixed-wing) to undertake mapping & surveying services. The deliverables would involve orthomosaics, digital surface models and Digital Terrain Models (DTM).

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LiDAR is often termed as a ground-breaking technology in the field of construction and surveying industry, however, it has some few drawbacks which could act as a major hindering factor in its overall LiDAR in mapping market growth. LiDAR in mapping generally requires massive amount of resources like skilled professional, LiDAR software and instruments.

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