Global Agriculture Drones Market is anticipated to flourish at a CAGR of 30% and expected to garner revenue of USD 5 billion by 2024

Global Agriculture Drones Market Overview

Global agriculture drones market is anticipated to reach USD 5 Billion by 2024, growing at a CAGR of over 30% during the forecast period, due to the rising demand for quality food crops to serve the growing global population. Increasing investments in the agriculture drones and rising awareness about efficient farming using field survey and data analytics is expected to drive the agriculture drones market until 2024. In terms of component, camera is expected to grow at the highest CAGR during the forecast period as it is the key component of the drone. Additionally, application specific cameras are used for different purposes such as hyperspectral camera is used for identifying weed.

Based on the application, the market has been segmented into crop spraying, field mapping, variable rate application (VRA), crop scouting, livestock, agriculture photography and others. Crop spraying application segment is forecast to grow at the highest rate during the forecast period owing to the precise spraying of the fertilizers without disturbing the fertility of the soil. Regionally, North America acquired the dominant share in the Global Agriculture Drones Market owing to the early adoption of drones in farming and presence of major players in the region. In Asia Pacific, countries including India, China, Japan and Australia are expected to drive the agriculture drones market due to high investment in R&D and increasing initiatives to deploy drones.

Some of the leading players in the global agriculture drones market are Market DJI, Ursula Agriculture, Agribotix LLC, Eagle Uav Services, Parrot SA, Precisionhawk, Aerovironment Inc., Dronedeploy, Honeycomb Corporation, 3DR etc.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, distribution channels and presence of all major manufacturers across the globe.

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Global Agriculture Drones Market

TechSci Research calculated the market size of global agriculture drones market using a bottom-up approach, where data for various application across various technology were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

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