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REPORT DESCRIPTION
Terrestrial Laser Scanning Market - Global Industry Analysis , Size , Share , Growth Trends , and Forecast 2015 - 2023
The extremely fragmented nature of the global terrestrial laser scanning market is expected to hold a high level of competition , even for key players with a global reach . This includes Faro Technologies and Fugro N . V . – key players who held a collective market share of 21.41 % in 2014 . The majority of the terrestrial laser scanner makers are owned by private players , while only a handful of the key companies are publically traded .
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The global market for terrestrial laser scanners is expected to progress at a CAGR of 14.9 % within a forecast period from 2015 to 2023 , in terms of revenue . The market is expected to account for revenues worth US $ 958.95 mn by the end of 2016 and US $ 2.52 bn by the end of 2023 .
The competitive edge in the global terrestrial laser scanning market is expected to get sharper over time , owing to the strengthening hold of regional players in comparison to global players , the introduction of product innovation that will lead to large scale product differentiation , and the large number of vertically integrated manufacturers . These manufacturers hold key advantages in terms of product quality as well as lower product cost .
According to a new report released by Transparency Market Research , the threat posed by new entrants on the global terrestrial laser scanning market is expected to remain low till 2023 . This factor is attributed to the large presence of regional players with strong distribution networks , coupled with high regulatory pressure .
Users Demand Higher Efficiency Moving Towards Using Terrestrial Laser Scanners
“ High accuracy , faster data capture , and positioning simplicity are the key factors that differentiate terrestrial laser scanners with conventional measurement methods ,” states a TMR analyst . “ There is a growing need for gathering realtime data in multiple industries , including construction , oil and gas , and manufacturing . These industries can not only
Transparency Market Research
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