By Construction Tech Review | Wednesday, May 22, 2019
FREMONT, CA: Clearing the traditional mirage of the surface designing sector appeared a state-of-the-art 3D terrestrial laser scanning industry. Even at the stage of infancy, the urgency of 3D terrestrial laser scanning platforms in the market keeps on elevating exponentially. The scattered nature of the global 3D terrestrial scanning market will reduce monopolistic control of big companies and elevate the level of competition. Private players own the majority of share in the terrestrial laser scanning sector, while a handful of public sector occupies the leftover dividends. Faro Technologies and Fugro N.V. dictated the terrestrial scanning market by obtaining 21.41 percent of the total share in 2014.
The global market for terrestrial laser scanners is likely to generate at a compound annual growth rate (CAGR) of 14.9 percent within a projected time of eight years. The annual revenue of 2016 was over $958 million, which is expected to rise to $2.52 billion by 2023 end. The sharpening of the competitive edge will enrich regional investors while cutting through the stagnant power of global players. According to the Transparency market report, the threats posed by rookies on the global terrestrial laser scanning markets will be at a mediocre level till 2023.
The conventional measurement methods lacked higher accuracy, faster data capturing technique, and positioning simplicity, which are the key components of terrestrial laser scanners. According to many total resource management (TRM) analysts, multiple industries like construction, oil, and mining will experience a growing need for gathering real-time easily accessible datasets. The 3D platform will not only cut downtime required for project completion but also reduce the process costs. Major public building construction from roadways to bridges and subways will benefit immensely in pre-construction safety measurement procedures.
A typical terrestrial laser scanner system comprises of scanner, high-frequency laser, keypad, mobile devices, operating software, and transmission control protocol (TCP)/internet protocol (IP) interface. These key restraints acting on manufacturers is the cost required to run the terrestrial laser scanner in various projects in addition to the expenses vital for the maintenance of machinery. The cost will not slow down the drive for construction technology as the Asia Pacific region is expected to lead the shareholding food chain by 28.76 percent in 2023.