Agriculture drones market to reach 4.2 billionStaff writer ▼ | June 13, 2016
Agriculture drones market is expected to grow from $864.4 Million in 2016 to $4,209.2 Million in 2022, at a CAGR of 30.19% during the forecast period.
Drone Imaging software plays a key role in the market
This is according to the new market research report "Agriculture Drones Market by Type (Fixed Wing, Rotary Blade, Hybrid, Data Analytics Software, Imaging Software), Application (Field Mapping, VRA, Crop Scouting, Livestock, Crop Spraying), Component and Geography - Global Forecast to 2022", by MarketsandMarkets.
In addition, drone data processing tools are becoming less expensive and easier to use. These advantages, along with the increasing awareness, propel the growth of the market.
Hybrid drones are expected to capture the largest share of the market by 2022. Hybrid drones can hover, fly at fast speed, and remain steady; the advantages of these drones are boosting the growth of the market for hybrid drones.
The agriculture drones market for software is expected to grow at the highest rate during the forecast period.
Imaging software plays a key role in the market since this software is used for processing the images captured by the cameras or the sensors mounted as a payload on the agriculture drones; thus, imaging sensors are expected to capture the largest share of the agriculture drones market for software by 2022.
The market for crop spraying application is expected to grow at the highest rate between 2016 and 2022. The increasing adoption of drones for crop spraying application would increase the yield and reduce the wastage of crops and fertilizers & pesticides.
This is a key factor responsible for the expected growth of the market for crop spraying application.
The agriculture drones market in APAC is expected to grow at the highest rate between 2016 and 2022. Asian countries such as China, India, and Japan are extensively taking initiatives, such as heavy investments in R&D, to encourage the adoption of agriculture drones in this region.
Along with this, market players such as DJI (China) and Yamaha Motor Co., Ltd. (Japan) are trying to suffice the growing demand for agriculture drones in APAC. ■