Northbrook, IL -- (SBWIRE) -- 06/20/2021 -- The agriculture drones market is expected to grow from USD 1.2 billion in 2020 to USD 5.7 billion by 2025 at a CAGR of 35.9% from 2020 to 2025. A few key factors driving the growth of this market are pressure on global food supply due to growing world population and increase in venture funding for the development of agriculture drones.
Agriculture drones market for software and services to grow at higher CAGR during forecast period
The agriculture drones market for software and services is expected to grow at a higher CAGR during the forecast period. This 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 collected by drones; the investments are mainly targeted at mapping, imaging, and data analytics software.
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Field mapping to account for largest share of agriculture drones market for precision farming during forecast period
Field mapping to account for the largest share of agriculture drones market for precision farming during the forecast period. Field mapping helps look at the condition and health of crops across different soil types and management zones to portray crop health and yield potential.
The camera systems are likely to account for the largest share of the agriculture drones market during forecast period
The camera systems are likely to account for the largest share of the agriculture drones market during forecast period. A camera system is a key component of an agriculture drone since its specifications decide the application for which the drone is to be used. For instance, the hyperspectral camera is best suited to investigate weed intrusion in farms, while the LIDAR camera is best to reveal slopes and sun exposure on farms.
Agriculture drones market for APAC to grow at the highest CAGR during forecast period
The market in APAC is expected to grow at the highest CAGR during the forecast period. The rate of adoption of smart agriculture techniques is likely to grow at a high pace in this region, mainly led by emerging countries such as India, China, and countries in Southeast Asia. The rapidly increasing population, availability of arable farms, and government support through subsidies are the major factors driving the adoption of agriculture drones in APAC.