Agriculture Drones Market Growth, Analysis, Latest Trends and Forecast till 2025
Posted by edwardzmusso on February 3rd, 2022
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.
Impact of COVID-19 on agriculture drones market
The emergence of the COVID-19 pandemic, a deadly respiratory disease that originated in China, has now become a worldwide issue and has also affected the agriculture drones market. Considering the inputs from various industry experts belonging to the various stages of the value chain, such as OEMs, suppliers, end users, and distributors, and the financial releases of various companies in the agricultural drones ecosystem for Q1, 2020, we estimate that the agriculture drones market might witness a decline during 2019–2020. Worldwide, COVID-19-responsive government measures have disrupted manufacturing and global supply chains, which has had, and is expected to continue to have, a significant impact, both direct and indirect, on the agriculture drones market. If the COVID-19 disease transmission continues and results in a prolonged period of commercial and governmental restrictions, it may restrict agriculture drone manufacturing companies from obtaining certain raw materials and components used in the manufacturing of their products. However, the experts in the agriculture drones market ecosystem believe that the market would pick up pace and grow from 2021 onwards.
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Hardware to hold larger share of agriculture drones market during forecast period
Hardware is expected to account for a larger share of the agriculture drones market during the forecast period. Drones can take aerial photos of crops and fields, and as they fly at heights lower than satellites, they can also take images with the centimeter-level resolution. By now, a significant number of farmers have started experimenting with drones. The rise in the use of drones by farmers or agronomists would lead hardware to capture a major share of the market in the coming years.
Field mapping to account for largest share of agriculture drones market for precision farming during forecast period
Field mapping to account for the largest share of agriculture drones market for precision farming during the forecast period. Field mapping helps look at the condition and health of crops across different soil types and management zones to portray crop health and yield potential.
Agriculture drones market in APAC to grow at highest CAGR during forecast period
The agriculture drones market in APAC is expected to grow at the highest CAGR during the forecast period. The rate of adoption of smart agriculture techniques is likely to grow at a high pace in this region, mainly led by emerging countries such as India and China, and countries in Southeast Asia. The rapidly increasing population, availability of arable farms, and government support through subsidies are the major factors driving the adoption of agriculture drones in APAC. In China, agriculture drones (used for precision farming applications) are being used for spraying applications to contain the spread of COVID-19. As of April 2020, DJI (China) sprayed disinfectant in over 3 million square meters in Shenzhen, China, using agriculture drones. The company is also helping 1,000 counties in China to adopt the spraying method.
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 some of the major players in the agriculture drones market.
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Joined: February 8th, 2021
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