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Imaging Technology in Precision Agriculture market to witness steady growth at 45% CAGR by 2024
Research Report Insights (RRI) has launched the report titled, “Imaging Technology in Precision Agriculture Market: Global Industry Analysis, Size, Sales and Forecast By 2024”:Research Report Insights
Drones & Other UASs Dominate the Global Market for Imaging Technology in Precision Agriculture
Precision farming is a management concept that is peddled to be the next big thing in the global agriculture sector, promising to influence the industry on the similar lines of green or organic farming. Monitoring the growth of crops happens to be a crucial aspect of precision agriculture, thereby emphasizing the necessitation of incorporating effective imaging technology. Observance and measurement of intra-field activities imposes the use of devices that are designed and developed with advanced imaging technologies. Off lately, tests of using an unmanned aircraft system (UAS) such as drones for capturing the cultivation of crops indicate that precision farming will be deeply integrated with imaging technology.
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The global market for imaging technology in precision agriculture is, thus, projected to attain revenues worth US$ 1,165.9 million by the end of 2024. According to a report developed by RRI, titled “Imaging Technology in Precision Agriculture Market: Global Industry Analysis, Size, Sales and Forecast By 2024,” cameras fitted on UAS devices are anticipated to account for over 45% share of the global market value in 2016. Variability in fertility rate, rodent monitoring, and supervision irrigation and similar farming activities continues to promote the use of imaging technologies in precision agriculture.
The implementation of UAS-derived imagery is expected to deliver imagery at higher resolution and from flexible angles. UAS imaging devices are likely to gain prominence due to their suitability in alarming the farmers from pest infestation, and other unwanted activities. The adoption of UAS imaging will be instrumental as precision agriculture is slowly growing its status as the future of farming.
Drones equipped with cameras and other sensory devices are gaining traction as a product in the global market for imaging technology in precision agriculture. Several companies have recently induced more research on how droned cameras can enhance the imagery assessment in precision agriculture. Employing on-board camera, a radar or any other clip-on device that incorporates advanced imaging technology on drones has supplemented the detection of cultivation processes. High-yielding fruits, vegetables and grains are expected to be effectively monitored after implementation of drones in precision farming techniques; thereby revolutionizing the dynamics of global market for imaging technology in precision agriculture.
Sensors and software, besides camera, are alsokey product-types prominent in the global market.The global market for imaging technology in precision agriculture is also bifurcated on the basis of imaging technology; hyperspectral and multispectral. In 2015, the multispectral imaging technology will account for US$ 408.4 million, and is anticipated to reach US$ 434.1 million by the end of 2016. A regional overview of the global market for imaging technology in precision agriculture indicates North America as the dominant region, procuring a global revenue share of 54.2% by 2024. Subsequently, Asia-Pacific’s market for imaging technology in precision agriculture is slated to generate revenues worth US$ 233.4 million by the end of forecast period. Since precision agriculture is gradually proliferating the global industry for farming techniques, leading companies providing solutions with imaging technology are projected to increase their participation.
Some such key players in the global market for imaging technology in precision agriculture include, Micasense, Teledyne Dalsa, Ximea, Tetracam, Bayspec, and Resnon, among others.
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