Agriculture Drone Market Will Reach USD 5.19 Billion by 2025: Meticulous Research®
Agriculture Drone Market by Product (Hardware (Rotary Blade, Fixed Wing, Hybrid), Software), Application (Precision Agriculture, Livestock Monitoring, Smart Greenhouse, Irrigation, Precision Fish Farming), and Geography – Global Forecast to 2025
Pune, india – January 15, 2020 /MarketersMedia/ —
The use of unmanned aerial vehicles (UAVs), also known as drones, and connected analytics has great potential to support and address some of the most pressing problems faced by agriculture in terms of access to actionable real-time quality data. The use of drones in agriculture is extending at a brisk pace in crop production, early warning systems, disaster risk reduction, forestry, fisheries, as well as in wildlife conservation. Meticulous Research®, in its latest publication on Agriculture Drone Market states that the global agriculture drone market is expected to grow at a CAGR of 31.1% from 2019 to reach $5,189.2 million by 2025.Factors such as growing global population and rising pressure on global food supply, rising venture funding for the development of agriculture drones, growing e-agriculture or information and communication technologies (ICTs) in agriculture, rising automation in agriculture, growing emphasis on enhancing agriculture efficiency, and rising need for water conservation across the globe are driving the growth of the agriculture drone market.
To provide efficient analysis, Meticulous Research® has segmented this market on the basis of product type (hardware (rotary blade, fixed wing, and hybrid) and software), application (precision agriculture, livestock monitoring, smart greenhouse, irrigation, precision fish farming, and other application), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
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Based on product, hardware segment is estimated to command the largest share of the overall agriculture drone market in 2019. In hardware segment, rotary blade drone is estimated to command the largest share of the overall agriculture drone hardware market in 2019. However, the hybrid drone is projected to grow at the highest CAGR during the forecast period, owing to its ability to carry heavy weights and hover over fields. Moreover, this hybrid drone offers combined advantages of both rotary blade drones and fixed wing drones. Like fixed wing drones, they can fly at high speed and in the same manner as like rotary blade drones, they are also capable to stay at one place for a long time.
Based on application, irrigation application segment is projected to grow at the highest CAGR during the forecast period. The fast growth of this segment is mainly attributed to growing global demand of drones in water management and drought management. Drones with thermal cameras can detect leaks from the water distribution systems of a cultivated field, which helps to take corrective actions in order to avoid the water loss.
Geographic Review
Geographically, the North America is estimated to command the largest share of the overall agriculture drone market in 2019. The large share of this region is mainly attributed to growing demand for high quality crops, growing cost of labor, increasing automation in agricultural practices, and favourable regulations on the use of small drones for agriculture. However, Asia-Pacific agriculture drone market is developing and expanding at a rapid pace.
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Key Topics Covered in This Report:
1. Introduction
1.1. Market Ecosystem
1.2. Currency and Limitations
1.2.1. Currency
1.2.2. Limitations
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.1.3. Market Size Estimation
3. Executive Summary
3.1. Introduction
3.2. Product Analysis
3.3. Regional Analysis
3.4. Key Players
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Growing Global Population and Rising Pressure on Global Food Supply
4.2.2. Growth in Venture Funding for Development of Agriculture Drones
4.2.3. Growing E-Agriculture or Information and Communication Technologies (ICTs) in Agriculture
4.2.4. Rising Automation in Agriculture
4.2.5. Growing Emphasis on Enhancing Agriculture Efficiency
4.2.6. Rising Need for Water Conservation
4.3. Restraints
4.3.1. Technical Limitation of Drones
4.4. Opportunities
4.4.1. Emerging Economies: Asia Pacific and Latin America
4.5. Challenges
4.5.1. Difficult Financial Situation
4.5.2. Quality of Data Captured
4.5.3. Lack of Technical Knowledge Among Farmers
5. Global Agriculture Drones Market, by Product
5.1. Introduction
5.2. Hardware
5.2.1. Introduction
5.2.2. Rotary Blade Drones
5.2.3. Fixed Wing Drones
5.2.4. Hybrid Drone
5.3. Software
5.3.1. Flight Management Software
5.3.2. Data Management Software
5.3.3. Drone Mapping Software
5.3.4. Image Processing Software
5.3.5. Data Analytics Software
6. Global Agriculture Drones Market, by Application
6.1. Introduction
6.2. Precision Agriculture
6.2.1. Field Mapping
6.2.2. Crop Health Monitoring
6.2.3. Variable Rate Applications
6.2.4. Others
6.3. Livestock Monitoring
6.4. Smart Greenhouse
6.5. Irrigation
6.6. Precision Fish Farming
6.7. Others
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Key players:
The global agriculture drone market is fragmented with the presence of many regional and local players. The key players operating in the global agriculture drone market are SZ DJI Technology Co., Ltd., (China), AeroVironment, Inc. (U.S.), Israel Aerospace Industries Ltd. (Israel), PrecisionHawk Inc. (U.S.), Trimble Inc. (U.S.), Parrot S.A. (France), Microdrones GmbH (Germany), AgEagle Aerial Systems Inc. (U.S.), American Robotics, Inc. (U.S.), Yamaha Motor Co., Ltd. (Japan), and Sentera, Inc. (U.S.), among others.
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