Dec 16, 2019   SOURCE: BusinessWire

Agriculture Drone (Hardware (Rotary Blade, Fixed Wing, Hybrid), Software) Market - Global Forecast to 2025 - ResearchAndMarkets.com

The "Agriculture Drone Market by Product (Hardware (Rotary Blade, Fixed Wing, Hybrid), Software), Application (Precision Agriculture, Livestock Monitoring, Smart Greenhouse, Irrigation, Precision Fish Farming), and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global agriculture drones market is expected to grow at a CAGR of 31.1% from 2019 to reach $5.19 billion by 2025

The growth in the agriculture drones market is mainly attributed to the growing population and rising pressure on the global food supply, increase in venture funding for development of agriculture drones, growing e-agriculture or information and communication technologies (ICTs), rising automation in agriculture, growing emphasis on enhancing agriculture efficiency, and rising need for water conservation across the globe. However, technical limitations of drones are likely to hinder the market growth to some extent.

On the basis of product type, hardware segment is estimated to command the largest share of the overall agriculture drones market in 2019.

Growing need for replacement, upgradation, and modification in the drone hardware components to increase the lifespan and performance of drones as well as to gain competitive advantage is driving the growth of this market. Rotary blade drone is estimated to command the largest share of the overall agriculture drones hardware market in 2019.

The largest share of this segment is due to its greater maneuverability and compact design, easy to use nature, higher payload capacity, and comparatively lower price than the other types of drones. However, hybrid drones segment is expected to grow at the fastest CAGR during the forecast period.

An in-depth analysis of the geographical scenario of the agriculture drones market provides detailed qualitative and quantitative insights about the five major geographies

North America is estimated to command the largest share of the global agriculture drones market in 2019. Rapid growth in population, growing demand for high quality crops, and rising disposable incomes are driving the growth of the agriculture drones market in this region.

In addition, factors such as growing cost of labor, rising automation in agriculture, and favourable regulations on the use of small drones for agriculture are further supporting the growth in the demand for agriculture drones in this region.

Scope of the Report:

Market by Product

  • Hardware
  • Rotary Blade
  • Fixed Wing
  • Hybrid
  • Software

Market by Application

  • Precision Agriculture
  • Livestock Monitoring
  • Smart Greenhouse
  • Irrigation
  • Precision Fish Farming
  • Others

Market Insights

Drivers

  • Growing Global Population and Rising Pressure on Global Food Supply
  • Growth in Venture Funding for Development of Agriculture Drones
  • Growing E-Agriculture or Information and Communication Technologies (ICTs) in Agriculture
  • Rising Automation in Agriculture
  • Growing Emphasis on Enhancing Agriculture Efficiency
  • Rising Need for Water Conservation

Restraints

  • Technical Limitation of Drones

Opportunities

  • Emerging Economies: Asia Pacific and Latin America

Challenges

  • Difficult Financial Situation
  • Quality of Data Captured
  • Lack of Technical Knowledge Among Farmers

Companies Mentioned

  • SZ DJI Technology Co.Ltd.
  • AeroVironment Inc.
  • Israel Aerospace Industries Ltd.
  • PrecisionHawk Inc.
  • Trimble Inc.
  • Parrot S.A.
  • Microdrones GmbH
  • AgEagle Aerial Systems Inc.
  • American Robotics Inc.
  • Yamaha Motor Co. Ltd.
  • Sentera Inc.

For more information about this report visit https://www.researchandmarkets.com/r/4mnyp1