Imaging Technology for Precision
Agriculture Market Size is forecasted to reach $1,653.04 Million by 2027,
growing at CAGR 12.27% during the forecast period 2022-2027. Precision
Agriculture can be referred to as a based approach in farming management which
observes, measures, as well as analyses requirement of individual fields and
crops. Compared to traditional farming, precision agriculture utilizes smart
technologies including AI, cloud and data analytics, IoT and others to gain
real-time insights related to field mapping or surveying, fertilizer and water
spraying, and so on. Increasing demand for high resolution imaging systems for
monitoring applications is analyzed to be a major driving factor for the growth
of Imaging Technology for Precision Agriculture Market. For instance, in
February 2020, around 250 French start-ups were recorded specializing in
agriculture and working towards developing software, drones, robots, artificial
intelligence and satellite to meet the increasing demand of efficient imaging
systems for monitoring application in precision agriculture sector. The recent
trends in the adoption of multi-spectral imaging technology for precision
agriculture imaging applications further contributes to its market growth
during the forecast period.
Increasing crop production
demands across the globe is impacting significantly in the market growth of
various imaging technologies for Precision Agriculture vertical. Crop
production demand has been increasing significantly across the globe owing to
the increasing population. According to the UN FOOD and Agriculture
Organization, to meet the demand of rapidly growing world population, food
production must rise by 60% by the end of 2050 for which precision agriculture
can assist in this situation. Moreover, according to Food and Agriculture
Organization (FAO), current projections suggest that average daily energy
availability could reach 3050 kcal per person by 2050. However, the same
projections suggest that production increases alone would not be sufficient to
ensure food security for everyone, unless governments apply smart agriculture
practices to increase production. This increasing food demands is anticipated
to drive the implementation of imaging technology in agriculture sector,
further propelling its market growth during the forecast period 2022-2027.
North America Imaging Technology
for Precision Agriculture Market held significant market share of 33.48% in 2021.
According to United States Department of Agriculture (USDA) 2019 report on “rural
broadband and next generation precision agriculture”, deployment of both
broadband e-Connectivity and next generation precision agriculture technologies
on farms and ranches throughout the U.S., is expected to result for at least
$47 billion in national economic benefits annually. Owing to such factors,
there is significant shift towards adoption of imaging technologies for
precision agri-markets. Deployment of precision agriculture equipment creates
network challenges for the farmers, due to which research works have been
carried out to facilitate edge computing and 5G application on the farms. In
July 2021, Grand Farm in partnership with Trilogy Networks and the Rural Cloud
Initiative announced about the FarmGrid precision agriculture solution as a
part of its collaborative project on Grand Farm’s innovation site, North
Dakota. This project aimed at delivering an all-in-one solution for farmers
purchasing precision agriculture equipment, capable of seamless integration on
the Trilogy’s FarmGrid platform. Moreover, rising rate of collaboration,
partnerships or R&D activities from some leading key market players
overtime is also positively impacting the market growth towards precision
farming imaging solutions. For instance, in February 2021, a U.S based
innovator in precision agriculture and site-specific soil monitoring, GroGuru
Inc. announced about its strategic partnership with Sentek Technologies, in
order to support irrigation management requirements. Under this partnership,
Sentek’s Drill-&-Drop soil moisture probes and telemetry was paired the
GroGuru InSites Software as a Service (SaaS), helping farmers as well as
agronomic consultants manage irrigation more efficiently, maximizing crop
yield. Such
developments can further influence the market growth in the long run.
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Imaging Technology for
Precision Agriculture Market Growth Drivers:
Increasing
deployment of drones
for imaging processes in precision agriculture vertical is analyzed to drive
the Imaging Technology for Precision Agriculture market growth during the
forecast period
Drones are small unmanned aerial
vehicles which is gaining huge popularity in the agriculture sector for crop
health monitoring/scouting including mid-season health monitoring, variable
rate fertility, mid-field weed identification and many other applications. For
instance, DJI, a leading manufacturer of commercial drones introduced different
featured small UAS for various agriculture operations named AGRAS T20. This
drone is especially designed for insects and weed control for a variety of
crops such as rice, wheat, corn, citrus trees, cotton, and much more. Moreover,
it operates with an integration of outstanding spraying capabilities and
imaging technologies mounted on it. According to Bank of America Merrill Lynch,
agriculture sector alone will generate over $82 billion in economic activity
between 2017-2025. Such exponential growth is analyzed to augment the
technological advancements in this sector such as development of high
resolution imaging technologies, AI enabled technologies and many others
deployed in drones for precision agriculture. Monitoring and scouting
application of drones equipped with imaging technology has become the backbone
for agriculture business and plays a leading role for the success factor for
agriculture industry. These ongoing developments and penetration of drones in
precision agriculture sector is analyzed to significantly drive the Imaging
Technology for Precision Agriculture Market during the forecast period
2022-2027.
The Major
Players in this Market Include
Major players in Imaging Technology for Precision Agriculture Market include Bayspec Inc., Micasense, Pixelteq, Resonon Inc., Teledyne Dalsa, Tetracam Inc., Ximea, Sentek Technologies, Ceres Imaging and Precision Hawk among others. In November 2021, MicSense launched Altum-PT, an optimized three-in-one sensors solution for advanced remote sensing and agricultural research. It seamlessly integrates an ultra-high resolution panchromatic imager, a built-in 320X256 radiometric thermal imager and five discrete spectral bands to produce synchronized outputs such as RGB colour, crop vigour, heat maps and high resolution panchromatic.
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