The agricultural drone market has been segment by products into fixed-wing drones, multi-rotor drones, hybrid drones, and other multi-rotor drones such as micro drones. Among these segments, fixed-wing drones are expect to grow at the highest CAGR over the forecast period. Follow by fixed-wing drones, multi-rotor drones are anticipat to drive the market of agricultural drones with significant growth. Based on application, the agricultural drone market has been segment into field mapping, spraying, livestock monitoring, and others. The spraying segment is estimat to dominate the market owing to the rising usage of drones for spraying pesticides on crops.
The global market for agricultural drones is expect to flourish at a significant CAGR of 30.2% over the period 2017-2024. Factors such as the blooming population couple with the increasing need for precise farming to improve overall crop production are anticipat to drive the demand for the agricultural drone market globally. Further, the implementation of advanced technologies including agricultural robots in crop fields is estimat to boom the agricultural drone market by noteworthy revenue by the end of 2024.
In the regional segment, North America represent the largest market for agricultural drones and is expect to dominate the market during the forecast period. This can be attribut to the high adoption rate of advanced agricultural technologies in this region. Additionally, factors such as increasing awareness towards the benefits of precise farming coupl with the rising utilization of agricultural drones in farming applications such as crop scouting, seed spraying, and field mapping are also expect to foster the expansion of the agricultural drone market in the North American region. Further, the growing adoption of advanc technology and increasing investment by several companies to develop cost-effective agricultural applications is anticipat to boom the market of agricultural drones in the Asia Pacific.
Furthermore, the growing usage of internet services amongst individuals is also projecte to boost the growth of global motion control encoders. For instance, it was observ that the total number of individuals using the internet grew from 8% of the total population in 2001 to 49% of the total population in 2017. Moreover, the increasing demand for high-speed internet amongst individuals has led to a rise in the deployment of 5G network technology by organizations operating in the field of telecom, as this technology provides internet access at very high speeds. Agricultural Drones Market Experts estimate that by 2025, more than 1.2 billion of total internet connections will account for 5G. Further, one-third of the world is project to be cover with 5G connectivity by the end of 2025.
In addition to this, the global motion control encoders Agricultural Drones Market is also anticipat to grow on the account of the rise in the number of mobile subscribers, especially unique mobile subscribers, which is project to be around 5.2 billion, as of May 2021. Moreover, the gross output register from the data processing, internet publishing, and other information services industry is also increasing, which, in turn, is anticipated to play a crucial role in the growth of the global motion control encoders Agricultural Drones Market. A report by the Bureau of Economic Analysis (BEA) of the U.S. Dept. of Commerce stated that the gross output registered from the data processing, internet publishing, and other information services industry, increased massively from USD 162.5 billion in 2010 to USD 530.4 billion in 2020.
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Demand for additional benefits in farming combined with rising awareness among farmers is driving the growth of agricultural drones market globally as agricultural drones are considered perfect solution for crop monitoring in very large arable lands. Moreover, other applications of agricultural drones such as crop scouting, field mapping, fertilizer & pesticides spraying are some of the major factors which are making these agricultural drones more acceptable in agricultural sector. These factors are believed to supplement the growth of the agricultural drones market in the near future.
However, factors such as lack of awareness and unavailability of trained drone pilots combined with restriction of use of agricultural drones in countries such as India and Nepal are likely to inhibit the growth of the agricultural drones market over the forecast period.
The report titled “Agricultural Drones Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the agricultural drones market in terms of market segmentation by products, by components, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the agricultural drones market which includes company profiling of AeroVironment Inc., DJI Innovation, Israel Aerospace Industries, PrecisionHawk, Parrot SA, Trimble Navigation Ltd., MicroDrones GmbH, 3D Robotics, Aibotix, Dragonfly Innovations, Coptercam and Cyberhawk Innovation Ltd.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the agricultural drones market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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