The Agriculture Drones Market is expected to grow from $1.2 billion in 2019 to $4.8 billion by 2024 at a compound annual growth rate of 31.4 percent, according to the new market research report, “Agriculture Drones Market by Offering (Hardware and Software & Services), Application (Precision Farming, Livestock Monitoring, Precision Fish Farming, and Smart Greenhouse), Component, and Geography — Global Forecast to 2024,” published by MarketsandMarkets.
A few key factors driving the growth of this market are increases in venture funding for the development of agriculture drones, and availability of software solutions for field survey and data analytics.
The agriculture drones market in Asia Pacific is expected to grow at the highest compound annual growth rate during the forecast period. The rate of adoption of smart agriculture techniques is likely to grow at a high pace in this region, mainly led by emerging countries such as India and China, as well as countries in Southeast Asia. The rapidly increasing population, availability of arable farms, and government support through subsidies are the major factors driving the adoption of agriculture drones in Asia Pacific.
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