The LiDAR market is projected to grow from USD 1.4 billion in 2023 to USD 3.7 billion in 2028; it is expected to grow at a CAGR of 19.4% from 2023 to 2028. The growth of the market is attributed to rising adoption of LiDAR systems in UAVs, and use of LiDAR geographical information system (GIS) applications. During the forecast period, LiDARs with 3D & 4D technology providing aerial surveying, asset management, GIS services, ground-based surveying are expected to create growth opportunities for the market.

Precision agriculture is a further use of LiDAR technology in agriculture. High-resolution 3D maps of fields can be made using LiDAR sensors, and these maps can be used to pinpoint fields that need more or less attention. For instance, farmers can modify their management techniques by using LiDAR data to pinpoint regions of a field that are more vulnerable to waterlogging or nutrient deficiencies.

Crop monitoring is one of the primary uses of LiDAR technology in agriculture. Farmers can track the development and health of their crops in real-time by using LiDAR sensors to precisely assess the height and density of their crops. This information can be used to optimize irrigation, fertilization, and pest control, among other things, which can ultimately increase yields and reduce costs.

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Precision agriculture is a further use of LiDAR technology in agriculture. High-resolution 3D maps of fields can be made using LiDAR sensors, and these maps can be used to pinpoint fields that need more or less attention. For instance, farmers can modify their management techniques by using LiDAR data to pinpoint regions of a field that are more vulnerable to waterlogging or nutrient deficiencies.

Moreover, digital elevation models (DEMs) of agricultural landscapes can be produced using LiDAR technology. Areas can be identified using DEMs.

Key players

The key players in the LiDAR market include Leica Geosystems AG(Sweden), Trimble, Inc. (US), Teledyne Optech (Canada), FARO Technologies, Inc. (US),RIEGL Laser Measurement Systems GmbH (Austria), SICK AG (Germany), Quantum Spatial (US), Beijing SureStar Technology Co. Ltd. (China).

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