Global Agriculture Drone Market Overview
The key drivers impacting the agriculture drone market are the increasing need to enhance agricultural productivity, with rapidly rising technological advancement in agriculture. In addition, high crop losses will lead to the increased adoption of drones for aerial spraying to protect crops from insects. For instance, The American Association for the Advancement of Science (AAAS), EurekAlert report 2018, reveals that the wheat, maize, and rice yields, specifically in northern climates, are likely to drop as insects in temperate regions flourish in warmer weather. It is due to the rising global temperatures, lead to a boost in crop losses from insects, particularly in the temperate areas. Crop losses are anticipated to increase by 10 to 25% per degree of warming. Moreover, the rise in venture funding for the development of agriculture drones contributes to agriculture drone market demand in the later years. Whereas with regards to volume, the market was calculated XX Units in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global Agriculture Drone market size was valued at about USD 1.3 billion in 2020 and is estimated to grow at a CAGR of around 36% during the forecast period 2021 to 2027.
The rising availability of software solutions for data analytics and field surveys will likely augment the need for the agriculture drone in the forecast period. There is also a massive need to surge the global food supply due to the expanding world population. However, security and safety concerns associated with drones' civil and commercial applications hamper the market in the long run. In addition, Air traffic management of commercial drones impedes market growth. Nevertheless, the market trends, such as rising demand for drones in APAC countries, and high adoption of aerial data collection tools in agriculture, might provide massive market opportunities to the market's key players.
The agriculture drone market is widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as amalgamation, extending product portfolio, acquisitions, contracts, product upgrades to raise their market share globally. The key players in the report are AeroVironment, Inc., SZ DJI Technology Co., Ltd., Trimble Inc., Israel Aerospace Industries Ltd., PrecisionHawk Inc., Parrot S.A, Microdrones GmbH, AgEagle Aerial Systems Inc., American Robotics, Inc, Sentera, Inc., Yamaha Motor Co., Ltd., and Sentera, Inc.
In this research report, the Agriculture Drone market is segmented by Offering, Component, Application, and region.
Analysis by Offering:
By offering, the report is divided into hardware, software, and services. The software segment dominates the offering segment with the largest market share in 2020. It is due to the growing investments made by the investors and the venture capitalists in the start-up companies that provide software and analytics to digitalize the information collected by drones. Moreover, assets are mainly targeted at mapping, imaging, and data analytics software contributing to the software segment's growth in the forecast period.
Analysis by Component:
By component, the report is divided into frames, controller systems, propulsion systems, camera systems, navigation systems, batteries, and other components (wires, connectors, power systems, carry cases, sprayers, and sprinklers). The camera systems segment dominates the component segment with the largest market share in 2020. It is the key component of an agriculture drone since its specifications decide the application for which the drone is to be used. Moreover, a hyperspectral camera is extensively utilized to examine weed intrusion in farms, and the LIDAR camera is best to disclose slopes and sun exposure on farms contribute to the growth of the infectious diseases segment growth in the forecast period.
Analysis by Application:
By application, the report is segmented into precision farming, livestock monitoring, precision fish farming, smart greenhouse, and others (horticulture, orchids, and forestry applications). The precision farming segment dominates with the highest market share in 2020. It is due to the growing demand for drones in numerous precision agriculture operations, including weed detection, plant counting, crop health monitoring, and harvest season monitoring. Moreover, the rising adoption of precision farming globally contributed to the growth of the precision farming application segment in the coming years.
Analysis by Region:
In the regional outlook of the global agriculture drone market, the North America region dominates with the largest market share of 42% in 2020. It is due to the growing cost of labor, increasing automation in agricultural practices, and favorable regulations on the usage of small drones for agriculture activities that are further supporting the higher adoption of agriculture drones. Moreover, APAC is estimated to grow at the highest CAGR during the forecast period due to the high rate of adoption of smart agriculture by emerging nations such as China, India, and countries in Southeast Asia. Also, the increased availability of arable farms and high government supports through incentives and subsidies contribute to the tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
By Offering
- Hardware
- Fixed Wing Drones
- Rotary Blade Drones
- Hybrid Drones
- Software and Services
- Data Management Software
- Imaging Software
- Data Analytics Software
- Others
By Component
- Frames
- Controller Systems
- Propulsion Systems
- Camera Systems
- Navigation Systems
- Batteries
- Other Components (Wires, Connectors, Power Systems, Carry Cases, Sprayers, and Sprinklers)
By Application
- Precision Farming
- Livestock Monitoring
- Precision Fish Farming
- Smart Greenhouse
- Others (Horticulture, orchids, and forestry applications)
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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