Smart Farming Drone Market Scope
The service sector is declared to be the most substantial contributor to any country's GDP. The use of drones in smart farming has left a long-lasting impact on the Agriculture industry of global and its efficiency. The demand for drone-powered solutions for farmers to increase productivity in crop monitoring to planting, Livestock Management, Pesticide Spraying, Crop Stress identification, Treatment Planning, Plant Growth Monitoring, Precision Farming, Scouting, and much more. The Smart Farming drone or unmanned aerial vehicle (UAV), unlike commercial drones, is applied in crop production for digital imaging, multispectral images, and near-infrared view of crops. Owing to their benefits in the agriculture sector, these Smart Farming drones find a gamut of applications for crop analysis, field mapping, and agricultural photography. The rapid advanced implementation of technology has been reflected in the agricultural sector. Drones technology has successfully penetrated the cultivation culture of North American countries such as the US, Mexico, and Canada. Smart farming drones are now incorporated with upgraded sensors as well advanced feature components and imaging capabilities which makes them expensive too. However, the stability of a well-emerging economy and the possibility of high investments in the region are propelling the sales in the smart farming drones market. Geographically, India is a leading country in the agriculture sector and the adoption of drones in smart farming is not up to the market due to a lack of awareness about the benefit. Hence the demand of the market is huge but the lack of awareness may hamper the market e most substantial contributor to any country's GDP. The use of drones in smart farming has left a long-lasting impact on the Agriculture industry of global and its efficiency. The demand for drone-powered solutions for farmers to increase productivity in crop monitoring to planting, Livestock Management, Pesticide Spraying, Crop Stress identification, Treatment Planning, Plant Growth Monitoring, Precision Farming, Scouting, and much more. The Smart Farming drone or unmanned aerial vehicle (UAV), unlike commercial drones, is applied in crop production for digital imaging, multispectral images, and near-infrared view of crops. Owing to their benefits in the agriculture sector, these Smart Farming drones find a gamut of applications for crop analysis, field mapping, and agricultural photography. The rapid advanced implementation of technology has been reflected in the agricultural sector. Drones technology has successfully penetrated the cultivation culture of North American countries such as the US, Mexico, and Canada. Smart farming drones are now incorporated with upgraded sensors as well advanced feature components and imaging capabilities which makes them expensive too. However, the stability of a well-emerging economy and the possibility of high investments in the region are propelling the sales in the smart farming drones market. Geographically, India is a leading country in the agriculture sector and the adoption of drones in smart farming is not up to the market due lack of awareness about the benefit. Hence the demand in the market is huge but the lack of awareness may hamper the market.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Equinox's Drones (India), Cropin Technology Solutions Private Limited, DJI (China), Pigeon Innovative Solutions LLP (India), Parrot S.A (France), PrecisionHawk Inc (United States), AeroVironment, Inc (United States), PrecisionHawk Inc (United States), AeroVironment, Inc (United States), Israel Aerospace Industries Ltd (Israel), Trimble Inc. (United States), Microdrones GmbH (Germany) and Others |
CAGR | % |
The major companies are exploring the market by adopting new mergers & acquisitions, expansions, investments, new services as well as product launches, and collaborations as their preferred strategies. A large number of local and major players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. The market is expected to grow in the agriculture sector due to wide application and benefits in the upcoming year. Several companies are operating in the market to provide customers with various features & unique offering products. The market is a partially fragmented market with the presence of several market players and local player
Equinox's Drones (India), Cropin Technology Solutions Private Limited, DJI (China), Pigeon Innovative Solutions LLP (India), Parrot S.A (France), PrecisionHawk Inc (United States), AeroVironment, Inc (United States), PrecisionHawk Inc (United States), AeroVironment, Inc (United States), Israel Aerospace Industries Ltd (Israel), Trimble Inc. (United States), Microdrones GmbH (Germany) and Others are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Smart Farming Drone market , by Application (Crop monitoring, Crop spraying, Weed detection, Disease detection and Others) and Region with country level break-up.
On the basis of application, segment is dominating the market in the year 2021
On the basis of geography, the market of Smart Farming Drone has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
In 2020 DJI created a new version of the Phantom 4 Pro drone, known as Phantom 4 Pro V2.0. The main aim of launching is to expand its portfolio
On October 2021 AgEagle has Acquire sense Fly from Parrot. The acquisition cost was USD 23
Market Trend
- Field mapping to account for the largest share of the Smart Farming Drone market for precision farming during the forecast period. Field mapping has a unique feature that helps identify the health of crops across different soil types and management zones to portray crop health and yield potential.
Market Drivers
- The Smart Farming Drone is expected to grow at a higher during the forecast period. This rapid growth is attributed to high investments being done by the venture capitalists and investors in the start-up companies offering software and analytics to digitize the information in order to collect data and monitor the condition of crops by drones
Opportunities
- The camera systems are likely to account for the largest share of the Smart Farming Drone market during the forecast period. A camera system is a key component of a smart farming drone due to the wide application for which the drone is to be used. For instance, the hyperspectral camera and LIDAR camera are best to reveal slopes and sun exposure on farms. Hence these are extreme factors that are creating extreme opportunities for drone components, manufacturer
Restraints
- The main factor that is hampering the market less flight time and covers less area. Lack of awareness about the basic knowledge and skill to operate the drone is the secondary factor hampering the market growth
Challenges
- One of the major challenges faced by the Smart Farming Drone Market is the lack of standardization. Smart farming drone devices consist of agriculture drones, that communication channels through various interfaces, technologies, and protocols. The lack of standardization and protocols may result in the misrepresentation of data. Hence the demand for technology is hampering the market over the upcoming period.
Key Target Audience
Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments, Raw Material Supplier, OEM (Original Equipment Manufacturer) and End-use Industry