Imaging Technology for Precision Agriculture - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Imaging Technology for Precision Agriculture Market is accounted for $0.68 billion in 2019 and is expected to reach $1.42 billion by 2027 growing at a CAGR of 9.7% during the forecast period. Additional benefits offered by imaging technology over other precision agricultural technologies and increasing usage of UAVs for commercial applications are the major factors propelling the market growth. However, high costs that are incurred on the precision agriculture systems are hampering the market growth.
Precision agriculture is important to maximize yields in the limited arable land available for growing crops where the precise applications of water, nutrients, and fertilizers over a farmland combined with accurate data pertaining to the areas where such resources are required plays a vital role in decisions about crop management. Precision agriculture helps in computing other important parameters such as spread of pests and weeds, soil quality, air quality, etc. and is gaining acceptance among the farmers due to which crop yields are improving substantially.
Based on the product, the cameras segment is estimated to have a huge demand due to detailed information available with the help of these cameras. The cameras product segment is expected to dominate the global imaging technology market for precision agriculture throughout the forecast years, followed by the sensors and software product segments.
By geography, North America is going to have a lucrative growth during the forecast period due to the fact that the region is fairly advanced in terms of adoption of imaging technology for precision agriculture.
Some of the key players profiled in the Imaging Technology for Precision Agriculture Market include Bayspec, Inc., MicaSense, Inc., PIXELTEQ, Quest Innovations BV, Resonon, Sentek Sensor Technologies, Teledyne DALSA, Inc. , Tetracam Inc., XIMEA GmbH, 4D Technologies, Monsanto, Earth-I, TerrAvion, Inc and Phys.org.
• Multispectral Technology
• Hyperspectral Technology
• Farm Labor Management
• Field Mapping
• Financial Management
• Inventory Management
• Irrigation Management
• Weather Tracking & Forecasting
• Yield Monitoring
• Crop Scouting
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market share assessments for the regional and country-level segments
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