A recent report published by Infinium
Global Research on agricultural drones market provides in-depth analysis of
segments and sub-segments in the global as well as regional agricultural drones
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional agricultural drones market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecasts, and dollar values of the global agricultural drones market.
According to the report, the global agricultural drones market is projected to
grow at a CAGR of 32.7% over the forecast period of 2020-2026.
Market
Insight
An agricultural drone is an unmanned
aerial vehicle used to help optimize agriculture operations, crop production,
and monitor crop growth. The benefits offered agriculture drone such as a
better understanding of the situation, gathering information, and analyzing
crops helps in improving crop yields and farm efficiency. Adoption of the
agricultural drone can increase crop yields, save time, reduce expenses and act
with unparalleled accuracy and precision. Additionally, the current concern
over the spread of coronavirus is also expected to have a positive impact on
the agricultural drone market.
Although several firms and whole
industries have collapsed in the wake of coronavirus, the agriculture industry
is holding firm. Traditional
agriculture is actually turning to agtech faster than ever before to adapt to
resource issues. Even though the supply chain has been facing disruptions, the
ongoing domestic demand for food will remain and food and agribusiness sectors
are increasing their capabilities to respond to the crisis. Due to the current
situation, robot and drone agtech startups have also seen huge increases in
demand. For instance, XAG, a major agricultural drone maker also reported that
the company delivered 4,000 units of their newly released agricultural drones
in the first two months of 2020. Moreover, Agtech startups will also be further
strengthened as several countries seek to increase domestic production and
limit imports.
The global agricultural drones market
is driven by factors such as rapid technological advancement in agriculture,
cost-effective and efficient solutions for drones, and a significant drop in
labour requirements. Moreover, agriculture drones technology is based on the
internet of things (IoT) which helps improve agriculture yield and reduce crop
damage. Rapid growth in digital agriculture and its related technologies such as
yield mapping, GPS guidance systems, soil management, and remote analysis will
propel the demand for market growth. However, inefficient security and
privacy settings are the prime restraint that is likely to hamper the growth in
the market. Furthermore, the growing adoption of automation, robotics, and
artificial intelligence by the agriculture sector for analyzing crop quality
will offer lucrative opportunities in the forecast period.
Geographically, North America
generated the largest revenue in the agricultural drones market in 2019 and is
expected to continue its dominance over the forecast years. Factors such as
growing demand for technologically advanced agricultural equipment and
increasing adoption of precision farming as well as digital farming in this
region increase demand for the agriculture drone market. Furthermore, the region
will offer several growth opportunities to market vendors in the forecast
period. Moreover, the Asia Pacific region is anticipated to grow with the
fastest CAGR owing to growing consumer awareness about the benefits associated with
an agricultural drone in farming and crop management.
Segment
Covered
The report on the global agricultural
drones market covers segments such as type, component, and application. On the
basis of type, the sub-markets include software and hardware. On the basis of
component, the sub-markets include frame, camera system, controller system,
battery, propulsion system, and navigation system. On the basis of application,
the sub-markets include variable rate application (VRA), crop scouting,
livestock, field mapping, and agriculture photography.
Companies
Profiled:
The report provides profiles of the
companies in the market such as Yamaha Motor Corporation (precision
agriculture), DJI, GoPro, BlueSKy, Aeryon Labs, Aeryon Labs, Aero Vironment,
AgEgle, Airware, and Boening.
Report
Highlights:
The report provides deep insights into
the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of the agricultural drones market. Moreover, the study highlights current
market trends and provides forecasts from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.