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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