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Agricultural Drones Market to rise at a whopping 13% CAGR from 2019 to 2024

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Asia Pacific Agricultural Drones Market is fuelled by technological advancements, government funding, and increasing adoption.

— The size of agricultural drones market is forecast to rise at 13% CAGR to reach USD 1 billion by 2024. Increasing usage of drones for agricultural purpose and rising funding for UAV manufacturers are fueling the demand for agricultural drones market. Precision farming initiatives and increasing automation will further stimulate the industry growth during the forecast period.

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DroneDeploy, a major player in global agriculture drones market, has recently announced the launch of a new product in the beta version, named Fieldscanner, that offers real-time drone mapping. With the help of this product, farmers will be able to use any drone to create a map of their fields and register the insights before the drone lands. The product is a part of DroneDeploy's iOS app and is touted to be used massively by landowners. Other companies operating in agricultural drones market such as PrecisionHawk, DJI, Trimble Navigation, AeroVironment, and GoPro have also been undertaking similar efforts to innovate modern technologies to be incorporated in drones so as to utilize their potential and capacity to the maximum for crop scouting and mapping. This factor will push Agriculture Drones industry over the years to come.

The developments in Agricultural Drones Market is set to change the business landscape of agriculture and enable ultra-precision farming. The agricultural sector is likely to witness a major transformation in its value chain, as the robotic technology is set to enter into different aspects of farming. Rising deployment of this advanced technology is most probable to change the future of agrochemicals business and modify the designs of agricultural machinery. This has significantly impacted the market dynamics of the global agricultural drones market.

Crop scouting application within the agricultural drones market is also assisting the farmers in achieving perfection and accuracy in fertilizer and pesticides spraying. These drones use the Normalized Difference Vegetation Index (NDVI), which detects plants under pressure with the help of various infra-red sensors. It is also used in differentiating the bare soil from grass or forest. Moreover, the UAVs mounted with LiDAR photogrammetry imaging applications helps in building topographic maps and providing an aerial view of the field.

Browse key industry insights spread across 115 pages with 76 market data tables & 60 figures & charts from the report, “Agricultural Drones Market" in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/agricultural-drones-market

Asia Pacific agricultural drones market is fueled by technological advancements, government funding, and increasing adoption. In China, the government has included agricultural drones as national subsidized agricultural machinery to increase its adoption. As per the Ministry of Agriculture, China, the agricultural UAV ownership number crossed 4,800 in 2016, which is double the number in 2015. The other agriculture dominated countries in Asia Pacific are expected to contribute to the industry growth owing to the increasing usage of this product to improve the yield.

Some of the players in agricultural drones market include DJI, AeroVironment, PrecisionHawk, DroneDeploy, Gopro, Parrot, Yunnec, Kespry, Dronebase, and Trimble Navigation. Profit margins and increasing demand are increasing the industry attractiveness thereby increasing the number companies investing in the agricultural drone market. Government regulations, patents, and companies already developing UAVs for other applications are increasing the entry barriers for new entrants.

Table Of Content For This Research Report:

Chapter 5. Agricultural Drones Market, By Application

5.1. Global agricultural drones market share by application, 2016 & 2024
5.2. Field mapping
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.3. Variable rate application
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4. Crop Scouting
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
5.5. Others
5.5.1. Market estimates and forecast, 2013-2024
5.5.2. Agricultural Drones Market estimates and forecast, by region, 2013-2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/agricultural-drones-market

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Source URL: https://marketersmedia.com/agricultural-drones-market-to-rise-at-a-whopping-13-cagr-from-2019-to-2024/88911530

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Release ID: 88911530

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