Agriculture Drone Market is Assumed to Grow CAGR of 26.8% by 2023

Posted by Aditi Desai on December 20th, 2018

As per the research by KD market insights, Agriculture Drone Market has a promising future in terms of revenue growth and potential in coming years. The market is expected to reach revenue value of USD 4630.7 million by end of forecast period. Also, the CAGR growth is anticipated to reach at 28.6% by end of 2023. The research provides insights into the market value and trends in the forecast period of 2018-2023. Here, 2017 is considered as a base year, 2018 as estimated year and 2019-2023 as the forecasted period. No doubt, drones are revolutionizing the agriculture at a fast pace.

An agriculture drone is an aerial vehicle which is applied to farming so that there is an increase in crop production and it also monitors crop growth. This drone helps the farmers to see their crop from the sky. The sky view reveals many problems such as irrigation issues, soil variation, pest, and fungal infestations. This device shows both near infrared and visual spectrum view. The combination helps the agriculturalist to distinguish between healthy and unhealthy plants. This difference is generally not visible through the naked eye. The method overall helps in improving crop production and management.

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There are many advantages that agriculture drone provides to farmers. One of the major benefits is an analysis of the soil and field by producing 3-D maps for it. The soil analysis helps the farmers in planting seed patterns. After plantation, it also provides data for irrigation and nitrogen level management. It assists farmers in planting, crop spraying and monitoring. Drones have installed ultrasonic echoing and lasers that enables it to adjust the topography and measure the correct distance, which especially helps in crop spraying process. As per the reports, agriculture spraying can be completed five times faster by using drones rather than traditional methods. Drones act as a main helping hand in the completion of proper irrigation and health assessment of crops.

Agriculture drone market research provides the analysis of the market on various grounds. The research will help you in analyzing the agriculture drone market size in 2017 and growth that could be accepted in future. It gives an analysis of the high demanding agriculture drone region in the upcoming years. It also lists the benefits and factors that are driving the growth of the market. The agriculture drone market has been segmented into various sub-segments and provides a portfolio for the overall market size, growth insights and many more. The research also lists down the market opportunities for existing and entry-level players. It gives a deep analysis of major industry players, their existing product and strategies. It also tells the pain points that the customer faces due to the existing product and also encompasses possible solutions for the same. There is a comprehensive analysis of agriculture drone market on the basis of offering and application. By offering, the market has been sub-segmented as drone and software. Drones are further divided into sub-types like a fixed wing, Hybrid, rotary blade, others and on software, it is divided into imaging, data management, Data analytics, and others. By application, the market is comprehensively sub-segmented into field mapping and variable rate application. Field mapping could be divided into sub-types like detection, crop health monitoring, and others. The variable rate application is divided into crop scouting, livestock and others.

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A simultaneous geographical analysis has also been done for giving region wise growth in agriculture drone market.  The global regions include North America, The U.S., Canada, Rest of North America, Europe, Germany, The U.K., France, Rest of Europe, Asia Pacific (APAC), China, India, Japan, Australia, Rest of APAC, Middle East & Africa (MEA), GCC, South Africa, Rest of MEA, South America (Brazil &Rest of South America).  Currently, out of all the regions, North America holds the highest position in terms of increasing revenue numbers. But it has been anticipated that the Asia Pacific is going to hold the first rank during the forecasted timeline.  The report also provides a portfolio of key competitors in the market. It gives the analysis of their work and potential they provide to customers. The research will provide the methodologies that competitors are using to grab the market share and win the trust of their customers.  It also gives the facts and figures that will tell the way by which a new organization can enter the market. 

The major competitors of agriculture drone market are DJI Innovation, Aerovironment, Inc., Trimble Navigation Ltd., and Precision Hawk, Parrot SA, Yamaha, Honeycomb Corporation, Agribotix, LLC, Skycision, Inc., Raptor Maps and Other Major & Niche Players. The competitors are looking for the methods that could help them in the market expansion like providing drones on a rental basis is one such methodology.  The scenario suggests that agriculture drone market has a big promising future and could be the best solution if you are looking for revenue growth.