Projected To Reach $5.19 Billion By 2025

The global agriculture drones market is expected to grow at a Compound Annual Growth Rate (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.

(Source: Research and Markets news release. Image from file)

FMI: www.researchandmarkets.com/r/4mnyp1