Portland,OR, Aug. 19, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global agriculture drones market was estimated at 0.88 billion in 2020 and is expected to hit $5.89 billion by 2030, registering a CAGR of 22.4% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Increase in venture funding for the deployment of drones in the agricultural sector, surge in adoption of precision farming, and rise in demand for cost reduction associated with human errors drive the growth of the global agriculture drones market. On the other hand, emergence of unmanned aerial vehicles impede the growth to some extent. However, rise in automation across the agricultural industry is expected to create lucrative opportunities in the industry.
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COVID-19 scenario-
- Implementation of partial and complete lockdown across the world gave way to distorted manufacturing activities and disrupted supply chain, thereby impacting the global agriculture drones market negatively.
- Nevertheless, the existing regulations are being eased off on a gradual note in the majority of countries and especially, with the mass inoculation drive on board, the market is anticipated to revive soon.
The global market is analyzed across offering, component, application, and region.
Based on offering, the hardware segment contributed to more than two-thirds of the total market share in 2020, and is expected to lead the trail by 2030. The same segment would also register the fastest CAGR of 22.7% throughout the forecast period.
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Based on component, the cameras segment accounted for more than two-fifths of the total market revenue in 2020, and is anticipated to rule the roost by 2030. The batteries segment, on the other hand, would grow at the fastest CAGR of 24.1% during the forecast period.
Based on region, North America held the major share in 2020, garnering nearly two-fifths of the global agriculture drones market. Simultaneously, the market across Asia-Pacific would cite the fastest CAGR of 23.80% from 2021 to 2030.
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The key market players analyzed in the global agriculture drones market report include AgEagle Aerial Systems, Inc., Israel Aerospace Industries, Microdrones, America Roboticss, DJI, Parrot Drones, PrecisionHawk, AeroVironment, Inc., Trimble Inc., and Yamaha Motor Corp. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
