Agriculture Drones Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Agriculture Drones Market: Overview
The global market for agricultural drones is likely to gain impetus in the forthcoming years. New entrants will mark the vendor landscape of the global agriculture drone market. These new entries will bring advanced technology and more innovation along with them and propel agriculture drones market towards further growth and prosperity, notes Transparency Market Research in its recent study on agriculture drones.
Unmanned aerial vehicle, better known as drones, is the aircraft can be maneuvered without the assistance of any human pilot. It has come into existence quite some time ago and is utilized in various industries, such as agriculture, military, mining, and construction. The agricultural usages of drones have gained substantial traction in recent times. It is after the world started experiencing population explosion that led towards the rising need for food. However, use of drones for agriculture with acute precision has been since the 1990s in some parts of North America, Europe, and Asia-pacific. These drones were widely utilized for the purpose of spraying crops, pesticides in the farm area and are still being utilized in the same way for the same purpose in many parts of the world. The agriculture drone market is, as such, the considered most lucrative market that is projected to metamorphose the way of farming.
The global market for agriculture drones has been segmented based on offering, application, component, and region. Agriculture drones for software and services is expected to rise at ahigher CAGR over the period of forecast. This growth is mainly due to substantial funding done by the investors and venture capitalists in the start-up companies, which are offering analytics and software to digitize the information gathered by drones. These investments are primarily meant for data analytics, imaging, and mapping software.
Global Agriculture Drones Market: Notable Developments
Some of notable developments pertaining to the competitive landscape of this market are:
Global Agriculture Drones Market: Growth Drivers
Prominent factors that would lead to the progress of agriculture drones market are need to better agricultural output, government support to make use of latest technologies in agriculture and improved awareness about precision farming. Drones are able to generate precise data, which can be useful for farmers to supervise crop health, diminish the effect of climate change, and effectively locate weed. The drones are also useful in uniform spraying of pesticide and crops for better yield.
The growing numbers of low-cost, innovative, and technologically advanced products in the global agriculture drones market are also contributing towards lucrative growth prospects of the market. Speedy research and development activities in the stream of robotics in Asia Pacific is expected result in the promising development of the global agriculture drone market.
Global Agriculture Drones Market: Regional Outlook
On the basis of region, the global agriculture drones market has been divided into North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe. North America is projected to occupy the lion’s share of the global agriculture drones market over the period of forecast. Such growth is due to the exemption from Federal Aviation Administration (FAA) under the part 107 rule, which leads to increased adoption of drones in the agricultural sector.
The global agriculture drones market is segmented as:
On the basis of offering
On the basis of application
On the basis of components
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