“Agriculture drones market to grow at a CAGR of 35.9% from 2020 to 2025”
The agriculture drones market is expected to grow from USD 1.2 billion in 2020 to USD 5.7 billion by 2025 at a CAGR of 35.9% from 2020 to 2025. A few key factors driving the growth of this market are pressure on global food supply due to growing world population and increase in venture funding for the development of agriculture drones.
“Agriculture drones market for software and services to grow at higher CAGR during the forecast period”
The agriculture drones market for software and services is expected to grow at a higher CAGR during the forecast period. This growth is attributed to high investments being done by the venture capitalists and investors in the startup companies offering software and analytics to digitize the information collected by drones; these investments are mainly directed at the implementation of mapping, imaging, and data analytics software.
“Field crops to account for the largest share of agriculture drones market during forecast period”
Farmers have started using drones for farming operations as they can operate longer than humans and reduce operational expenses. UAVs are also expected to be utilized on a large scale in field crops compared with other types of agricultural produce.
“North America to account for largest size of agriculture drones market during forecast period”
North America is expected to hold the largest size of the agriculture drones market during the forecast period. The presence of a large number of vendors, continuous advancements in technology, and reducing prices of equipment are contributing to the growth of the agriculture drones market in North America. Moreover, innovations in technology, and emergence of data generation, storage, cloud computing, computer processing capacity, and delivery systems have led to the growth of the agriculture drones market in North America. COVID-19 is likely to affect the revenue of the agriculture drones market from North America in 2020.
Breakdown of the profile of primary participants:
- By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 – 25%
- By Designation: C-Level Executives – 35%, Directors – 25%, Others - 40%
- By Region: North America – 10%, Europe – 20%, APAC – 40%, and RoW – 30%
DJI (China), PrecisionHawk (US), Trimble Inc. (US), Parrot Drones (France), 3DR (US), AeroVironment, Inc. (US), Yamaha Motor Corp. (Japan), DroneDeploy (US), AgEagle Aerial Systems, Inc. (US), and OPTiM Corp. (Japan) are among the major players in agriculture drones market.
The agriculture drones market based on offering has been segmented into hardware, and software and services. Based on component, the market has been segmented into frames, controller systems, propulsion systems, camera systems, navigation systems, batteries, and other components (such as wires, connectors, power systems, carry cases, and sprayers). The agriculture drones market based on application has been segmented into precision farming, livestock monitoring, fish farm monitoring, smart greenhouse, and others (including horticulture, orchids, and forestry). Based on farming environment, the agriculture drones market has been segmented into outdoor and indoor. Based on farm produce, the agriculture drones market has been segmented into field crops, fruits and vegetables, dairy and livestock, and others. Based on region, the agriculture drones market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Reasons To Buy Report
The report would help market leaders/new entrants in the following ways:
- This report segments the agriculture drones market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different offerings, components, farming environment, farm produce, applications, and regions.
- The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, product launches and developments, acquisitions, collaborations, and partnerships in the agriculture drones market.