The Agricultural Drones Market is expected to grow from USD 1.2 billion in 2020 to USD 5.7 billion by 2027 at a CAGR of 35.9% from 2021 to 2027.
MarketDigits recently released a brand-new research study on the international Agricultural Drones market for the prediction period, 2021-2027. This research report provides a detailed outlook of this market with detailed info regarding drivers, restraints, opportunities, trends, and challenges, and which are the vital aspects which could influence the market results from the targeted years.
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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on ” Agriculture Drones Market By Technology (Hardware, Software, and Services), Component (Frames, Controller Systems, Propulsion Systems and Other), Application (Precision Farming, Livestock Monitoring) and Geography – Global Forecast To 2026″. Early buyers will get 10% customization on study.
To Avail deep insights of Agricultural Drones Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.
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Global Agricultural Drones Market: Overview
Agricultural drones are on the brink of becoming the new workhorses on farms. With the focus on productivity in agriculture spiraling upward in the farming sector, drones could be the answer to improved automation and precise control of farm monitoring and operations. Already, robots are beginning to transform the way the agriculture sector functions and the advent of agricultural drones could take that change to a whole new level. According to a report released by Bank of America Merrill Lynch, the market for agricultural robots is expected to surpass US$16 bn by 2020, up from US$817 mn in 2013. Agricultural drones are anticipated to account for a significant portion of the overall agricultural robots industry in the near future.
Analysts expect the market for agricultural drones to receive a boost from government authorities as it has the potential to employ close to a 100,000 people in the next 10 years, thus contributing remarkably to the world’s economy.
Companies have been quick in spotting this opportunity and have already lined up a bevy of agricultural drones, each designed for a specific purpose, for farmers looking to bring more technology to their farming practice. The market has just taken flight with companies such as GoPro announcing the launch of drones in 2016. E-commerce websites such as Amazon and eBay have stocked commercial drones and are estimated to expand their portfolio by adding agricultural drones in the next few months.
Agricultural drones are likely to be among the top revenue generators in the overall commercial drones industry. There are several operations on a farm where the use of drones can improve the status quo. For instance, drones can be used for thermal imaging to tell which patches in a farm need more pesticides or water by providing information on whether specific sections of the farm have distressed crops. Farmers can also use thermal imaging provided by agricultural drones fitted with infrared cameras to determine when the time is ready to harvest crops.
Global Agricultural Drones Market: Drivers and Opportunities
The opportunities are just beginning to emerge in the global agricultural drones market and will only expand over the next decade. The market is also projected to receive a push owing to the fact that many people are not keen on working on farms, as income is dependent heavily on the weather and the risks are becoming increasingly high because of the vagaries of the weather. The use of drones could bring the ability to monitor farm and weather conditions within the reach of the average farmer, thus boosting the confidence of stakeholders in the agricultural sector worldwide.
In countries where agriculture still forms the backbone of the economy, opportunities can be tapped in areas such as pesticide and insecticide spraying, seeding, pest control, mapping and thermal imaging, and remote sensing. The Internet of Things would prove to be the launch pad for the global agricultural drones market, bringing more transparency to the overall farming process. Thus, besides drones ushering in an era of digital farming, they would also create a massive sales and service market. The need for software and applications designed specifically for the agricultural sector would provide new opportunities in the technology industry.
Global Agricultural Drones Market: Competitive Overview
Competition in the global agricultural drones market is just beginning to intensify with the launch of novel products. For instance, FLIR, a company that manufactures thermal imaging cameras, has brought to the market a drone camera that offers a heat map of farms. Companies that currently operate in the global drones market include AeroVironment, Yamaha, DJI, GoPro, GoPro, Google, and Boeing. Many of these would be strong contenders in the global agricultural drones market in the near future.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at MarketDigits adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at MarketDigits helps you break down the complex scenario and bring resiliency in uncertain times.
The base year for calculation in this Agricultural Drones Market business report is taken as 2020 while the historic year is 2019 which will tell how the market will perform in the forecast years by informing what the market definition, classifications, applications, & engagements are. This Agricultural Drones Market report is also all-embracing of the data which covers market definition, classifications, applications, engagements, market drivers & market restraints that are based on the SWOT analysis. A large scale Agricultural Drones Market report is a comprehensive study about the market which tells about the market status in the forecast period of 2021-2027.
An excellent Agricultural Drones Market research report can be generated only with the leading attributes such as highest level of spirit, practical solutions, committed research and analysis, innovation, talent solutions, integrated approaches, most up-to-date technology & dedication. Hence, all the above aspects are firmly followed by MarketDigits team while building this Agricultural Drones market report for a client. Furthermore, influencing factors such as market drivers, market restraints and competitive analysis is studied with the SWOT analysis which is the most established tool when it comes to generate Agricultural Drones Market research report. With Agricultural Drones Market report, build a strong organization and make better decisions that take business on the right track.
Major Points Covered In This Report:
Chapter 1. Report Overview
Chapter 2. Global Growth Trends
Chapter 3. Market Share by Key Players
Chapter 4. Breakdown Data by Type and Application
Chapter 5. Market by End Users/Application
Chapter 6. COVID-19 Outbreak: Agricultural Drones Industry Impact
Chapter 7. Opportunity Analysis in Covid-19 Crisis
Chapter 9. Market Driving Force
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