Terrestrial Laser Scanning for Oil and Gas Market Outlook to Witness Widespread Expansion by 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. Terrestrial Laser Scanning for Oil and Gas Market Outlook 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 scal...