The terrestrial laser scanning market size is expected to grow from USD 3.0 billion in 2018 to USD 4.4 billion by 2023, at a CAGR of 8.17% during the forecast period. Increasing demand for surveys and 3D laser scanning for BIM applications in Asia Pacific and the Middle East is one of the major factors driving this market.

Major players in the terrestrial laser scanning market include 3D Digital Corporation (US), Carl Zeiss Optotechnik (Germany), Creaform (Canada), FARO Technologies (US), Maptek (Australia), Trimble (US), RIEGL Laser Measurement Systems (Austria), Teledyne Technologies (US), Topcon (Japan), Hexagon (Sweden), and Zoller + Fröhlich (Germany), among others. These players have adopted various growth strategies, such as acquisitions, new product launches, and collaborations, to expand their presence in the terrestrial laser scanning market. Partnerships and new product launches have been the leading strategies adopted by major players from 2016 to 2018, which helped them innovate their offerings and expand their customer bases.
FARO Technologies is one of the leading manufacturers and suppliers of terrestrial laser scanning solutions across the globe. The company launched new 6DoF FARO laser scanner, in October 2018. This is one of the advanced laser scanners used for high-performance 3D metrology. Whereas, in May 2018, FARO Technologies made a strategic minority investment in 4D GmbH, which is a leading software solutions provider for professional virtual reality (VR) presentation and training environments. This partnership will drive the adoption of virtual reality solutions across a broad spectrum of business and industrial applications.
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Trimble is one of the global leaders offering new advanced terrestrial laser scanning systems and software to different applications. The company has made investment to expand its share in the terrestrial laser scanning market. In April 2018, the company acquired the privately-held Viewpoint from Bain Capital in an all-cash transaction valued at USD 1.20 billion. Viewpoint is highly complementary to Trimble's e-Builder business and will extend Trimble's ability to provide a more complete and integrated project, job site, and business workflows across the construction lifecycle.
Creaform (Canada) is a privately held company founded in 2002. It is one of the fastest-growing software companies in the North American region. In 2013, Creaform was acquired by AMETEK, Inc. (US), a public listed company and a global manufacturer of electro-mechanical devices and instruments. In October 2018, Creaform ACADEMIA released Pipecheck 5.0, which features major enhancements enabling integrity assessment for full pipe joints. Since its introduction in 2011, Pipecheck has become established as the standard for providing accurate and reliable NDT surface damage diagnostics on both the inner and outer linings of pipes, using both ultrasonic testing and 3D scanning, whether for corrosion, dents or gouges in the metal.
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