Report: Precision Agriculture Drives Drone Market Growing At 35% CAGR To 2022
In LiDAR drone market, precision agriculture application is expected to grow at the highest CAGR. Precision agriculture involves the usage of drones to monitor soil erosion and crop maturity, mitigate the effects of frost, and monitor invasive plant species among others. The potential benefits of using drones include real-time data collection, high-resolution imagery of farmland, and low cost in comparison with other relative techniques. These benefits drive the LiDAR drone market in the precision agriculture application. Complete report on LiDAR drone market spread across 125 pages, profiling 11 companies and supported with 66 tables and 42 figures is now available at here.
The LiDAR drone market is expected to exhibit impressive growth during the forecast period. The LiDAR drone market is expected to grow at a CAGR of 35.2% between 2016 and 2022 to reach $144.6 million by 2022. A key driving factor for the growth of the market is the encouragement from governments and research institutes for the adoption of LiDAR drones.
The LiDAR drone market in APAC is expected to grow at the highest CAGR between 2016 and 2022 owing to the increasing industrialization and urbanization in this region. The increasing awareness among governments and customers regarding the benefits of LiDAR drones further drives this market in the APAC region.
For instance, the Indian Transport Ministry has made the use of LiDAR compulsory in surveying areas before constructing a new highway. The Indian railway has also hired drones for inspecting the progress of its construction sites. Such initiatives drive the LiDAR drone market in APAC. Furthermore, the availability of local players and favorable economic conditions also contribute to the high growth of the market in this region.
MORE BY MATT HOPKINS
Besides, several other factors such as the adoption of LiDAR drones for precision farming and commercial application such as delivery of products also propel the growth of the market. This report provides the market statistics pertaining to LiDAR drone type, component, application, and geography along with their respective revenues.
The major players operating in the LiDAR drone market are Velodyne LiDAR (U.S.), Phoenix Aerial Systems (U.S), Riegl Laser Measurement Systems GmbH (Austria), SICK AG (Germany), and YellowScan (France).3D Robotics, Inc. (U.S.), DJI (China), FARO Technology (U.S.), Leica Geosystems AG (Switzerland), Optech, Inc. (Canada), and Trimble Navigation Limited (U.S.). Order a copy of “LiDAR Drone Market by Product (Rotary Wing, and Fixed Wing), Component, Application (Corridor Mapping, Archaeology, Construction, Environment, Entertainment, and Precision Agriculture), Geography – Global Forecast to 2022” research report here.
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level (75%) and Manager Level (25%) from various key organizations operating in the LiDAR drone market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), APAC (40%), and RoW (30%).
On a related note, another research titled LiDAR Market Global Forecast to 2022 says, the LiDAR market is expected to grow at a CAGR of 12.4% between 2016 and 2022 and estimated to reach USD 3.22 billion by 2022. UAV LiDAR expected to grow at the highest CAGR. APAC to be the fastest-growing region in the LiDAR market. Companies like Quantum Spatial (Aerometric) (U.S.), Faro Technology (U.S.), Geodigital (Canada), Leica Geosystems AG (Switzerland), Optech, Inc. (Canada), Reigl Laser Measurement Systems GmbH (Austria), Topcon Positioning Systems, Inc. (U.S.), Trimble Navigation Limited (U.S.), Sick AG (Germany), Velodyne (U.S.), BLOM (Norway), Michael Baker International (U.S.), and Yellow Scan (France) have been profiled in the 143 pages research report available here.