How to get real world location from a 360 degree panoramic image based on the selected pixel value?

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I have been working on this problem wherein if I select a random point in a Pano image, I need to get the real world coordinate value of that. The Inputs that I have are

Input

where X, Y and Z are in meters.

The Input image are images like this:

I have tried using the conventional formulae that are mentioned in this. But those formulae don't work here. The focal length of the camera is 8mm.

I am also working on an alternate method where I am trying to map that Pano image onto the trajectory LiDAR LAS file. I have the LiDAR data containing the entire stretch of the road along with the XYZ coordinates mentioned above. Based on the paper that I have read, they mention on using feature extraction to get the keypoints and map it on top of the other. I am still looking for methods on how to do it.

The main purpose of this is to select an object on the image and get its real world coordinate and I have been trying both ways to get it. Any push towards the right direction would be really helpful. Thanks

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