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.
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.
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The global terrestrial laser scanning market is expected to progress at a CAGR of 14.9% in terms of revenue, from 2015 to 2023. 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 2023.
APAC Retains Lead in Terrestrial Laser Scanner Market Value
By the end of 2023, 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.
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.
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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.