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IntroductionGlobal Drone Farming Market
In drone farming, unmanned aerial vehicles, also known as agriculture drones, are deployed for farming practices in order to increase production as well as monitor crop growth. According to this assessment, the global drone farming market is anticipated to reach a considerable valuation over the next couple of years, expensing at a healthy CAGR. The use of sensors and digital imaging capabilities helps in drawing a high-quality picture of the field. The accuracy of the product is likely to boost the growth rate of the drone farming market in the coming years.
The pressure on the agriculture industry has been mounting forthe last few decades. The population explosion is making the scenario more severe. Thus, the introduction of technological advancements in the industry is a welcome step. It is poised to impact the drone farming market favorably in the years to come. In addition, the support extended by the governments to ensure food security is also anticipated to support the proliferation of the drone farming market in the nearby future.
The deployment of agriculture drones facilitates effective decision making by providing accurate and timely information. It is likely to encourage the growth process of the drone farming market in the forthcoming years. In addition, the product is also gaining popularity as it holds the potential to deal with challenges such as land degradation, water scarcity, etc. It helps in the efficient management and optimum utilization of existing resources, thus, supporting the expansion of the drone farming market in the upcoming years.
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Market Segmentation:
By type, the drone farming market has been segmented into single rotor drone, fixed wing drone, multi-rotor drone, and others.The fixed wing segment has a considerable fraction of the market and is likely to hold a prominent position in the drone farming market in the forthcoming years. However, it has been presumed that the multi-rotor drone segment is poised to witness accelerated growth rate over the next few years.
On the basis of offering, the global drone farming market has been segmented into software services and hardware.Among these, the software segment is expected to account for a colossal share of the drone farming market and retain it over the next couple of years.
Regional Assessment:
The assessment if the drone farming market, on the basis of region, has been segmented into South America, AsiaPacific (APAC), North America, Europe, and the Middle East and Africa (MEA).North America is presumed to lead the drone farming market on the global front. Increasing adoption of the technology is poised to pave the growth trajectory of the market in the nearby future. Asia Pacific is also anticipated to earn substantial revenues over the next couple of years. Increasing population is projected to support the growth of the drone farming market in the region.
Industry News:
In September 2019, crop spraying drones passed CAA regulations and were successfully deployed. The operational rate of these drones is30 liters per hectare.
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