Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Precision agriculture (PA) is a farming management concept based on monitoring, measuring, and responding to inter and intra-field variability in crops. The primary objective of precision agriculture is to define a decision support system (DSS) for the entire farm management with goal to optimize returns on inputs while preserving resources. By collecting real-time data for agricultural parameters such as soil quality, chemical composition, air quality, moisture content, etc. decision about crop management is known as precision agriculture. There are various technologies available including variable rate technology, guidance technology, unmanned aerial vehicle, mapping technology, and global positioning system. Imaging technology comes under the unnamed aerial vehicles (UAV) wherein it captures images to collect data with the help of software.

The global Imaging Technology Market for Precision Agriculture Market was accounted for US$ 40.3 Mn in terms of value in 2019 and is expected to grow at CAGR of 6.8% for the period 2020-2027.

Market Dynamics- Drivers

  1. Increasing demand for imaging systems for precision farming is expected to drive growth of the global imaging technology market for precision agriculture during the forecast period

Advent of unmanned aerial vehicle (UAV) has offered numerous advantages to precision farming along with ease of use, improved data accuracy, and low cost. This, in turn, provides accuracy of data for imaging systems, thereby augmenting precision farming. Moreover, there are various applications of imaging systems in precision farming such as animal monitoring, crop health monitoring, environmental impact assessment, irrigation equipment monitoring, weed and pest identification, and variable rate fertility.  Hence, these factors are expected to drive growth of the market during the forecast period.

  1. Additional benefits over existing precision farming technologies are expected to propel growth of the global imaging technology market for precision agriculture over the forecast period

Usage of UAV for precision farming offers the various mentioned benefits over aircraft- and satellite-enabled imaging systems. Among these mentioned advantages, low cost and lesser time required to capture and analyze data are expected to be the primary factors driving the adoption of UAVs, which will result in increasing demand for imaging technology in precision farming. Hence, these factors are expected to propel the global imaging technology market for precision agriculture growth in the near future.

Imaging Technology Market for Precision Agriculture Market - Impact of Coronavirus (Covid-19) Pandemic

Many governments around the globe such as India, Spain and Italy have imposed nationwide lockdown to prevent the spread of COVID-19 disease. For instance, India have imposed lockdown from 25 March to 1 May until the further notice. Lockdown resulted in the shortage of the workers at the farms. Due to the manpower shortage the farms are struggling to carry out the plantation activities. Moreover, there is also shortage of transportation facilities such as Trucks and Trains. Owing to above mentioned factors, the COVID-19 pandemic is expected to restrain the market growth during the year 2020.

Statistics:

GCC Countries held dominant position in the global Imaging Technology Market for Precision Agriculture market in 2019, accounting for 42.9% share in terms of value, followed by Europe and Asia Pacific, respectively

Figure 1: Global Imaging Technology Market for Precision Agriculture Market Share (%) in terms of Value, By Region, 2019

Imaging Technology  | Coherent Market Insights

Market Dynamics- Restraints

  1. Lack of surety regarding returns is expected to restrain growth of the global imaging technology market for precision agriculture during the forecast period

Ambiguity regarding whether the technology will ensure profits considering the investment to be made and affordability of the consumer to purchase the technology are major factors expected to restrain adoption of imaging systems for precision agriculture. Furthermore, using image sensors for farming requires sensors and supporting software as well as drone cost is included in the complete system to capture. Ambiguity regarding whether the technology will ensure profits considering the investment to be made and affordability of the consumer to purchase the technology are major factors expected to restrain adoption of imaging systems for precision agriculture. Hence, these factors are expected to restrain growth of the market.

  1. Ambiguity concerning regulations is expected to hinder growth of the global imaging technology market for precision agriculture over the forecast period

Many countries worldwide have no regulations regarding commercial applications of UAVs and thus require special clearance from authorities. A state of ambiguity related to usage of drones for precision farming exists, due to the absence of any regulations in many countries. Thus, these factors are expected to hinder the market growth over the forecast period.

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Imaging Technology Market for Precision Agriculture Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 40.3  Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 6.8% 2027 Value Projection: USD 30.8 Mn
Geographies covered:
  • North America: U.S., Canada
  • South America: Brazil, Argentina, Mexico, Rest of Latin America
  • GCC Countries: UAE, Saudi Arabia and Kuwait
  • Rest of Middle East
Segments covered:
  • By Technology: (Multispectral and Hyperspectral)
  • By Product: (Camera, Sensor, Software and Others)
Companies covered:

Honeywell International Inc., Intergraph Corporation, Lockheed Martin Corporation, Environmental System Research Institute, Inc., Motorola Solution Inc., Guardly, Rockwell Collins, Inc., Iridium Communication Inc., and Siemens AG

Growth Drivers:
  • Increasing demand for imaging systems for precision farming
  • Additional benefits over existing precision farming technologies
Restraints & Challenges:
  • Lack of surety regarding returns

Market Opportunities

  1. Rising adoption of new technology can present lucrative growth opportunities

Adoption of novel technology has offered numerous advantages to farming. For instance, since 1996, genetically modified crops have been adopted by several countries and yields per hectare have been improved significantly. Better irrigation systems have resulted in increase in agricultural production. Modern transportation systems helping in the transportation of agricultural products. Demographic shift towards younger and more technologically savvy farmers will result in significant change to the various farming techniques and methods in future.

  1. Increasing demand for agricultural products can provide major business opportunities

According to a report by National Intelligence Council, demand for food is expected to increase by 35% by the end of 2030, owing to projected increase in global population from 7.5 billion in 2016 to 8.3 billion in 2030; whereas global productivity of food grains have come down significantly as compared to previous years. Scarcity of food grains will result in increase in demand for agricultural products. Increase in demand for agricultural products will require the use of advanced technologies to improve productivity of farms.

Figure 2: Global Imaging Technology Market for Precision Agriculture Market Value (US$ Mn), 2017 - 2027

Imaging Technology  | Coherent Market Insights

The global Imaging Technology Market for Precision Agriculture market was valued at US$ 40.3 Mn in 2019 and is forecast to reach a value of US$ 30.8 Mn by 2027 at a CAGR of 6.8% between 2020 and 2027.

Market Trends

  1. Trends by Technique

Rising adoption of multispectral imaging as compared to hyperspectral imaging in agriculture

Multispectral imaging is witnessing increasing demand from sectors such as agriculture, owing to the low cost of technology. Relatively small size of multispectral cameras makes them useful with micro drones, particularly for applications in the agriculture sector. Adoption of hyperspectral cameras over multispectral cameras in precision agriculture is increasing. Hyperspectral cameras were earlier used specifically for industrial applications because the information derived via hyperspectral sensors was comparatively more detailed than that derived using multispectral sensors. In addition, the hyperspectral technique is more preferred over multispectral cameras owing to lower cost of the former.

  1. Trends by product

Trends in camera technology for imaging technology

Multispectral was the first camera technology introduced, working in 3 bands i.e. Red, Blue, and Green. Hyperspectral cameras were introduced and the early application included satellite imagery but was later introduced for precision agriculture application. Hyperspectral cameras can work in more than 3 bands, which can even go up to 100 bands. Hyperspectral cameras were very costly and mainly targeted towards industrial applications, however later with costs coming down, its applications for agriculture purposes have been increasing.

Regulations

North America

  • Drone Laws in the U.S.
  • Remote pilots can be hired and must above 16 years of age
  • There is no requirement for a pilot license, but there is a need for the operator to pass a test for remote pilot airman certification
  • The weight of the drones cannot exceed 25 Kgs
  • Drones cannot operate above a crowd without special permission
  • Drones must operate at 400 feet or below
  • Drone Laws in Canada
  • In Canada, drones cannot fly higher than 90 meters and within 150 meters radius from public places.
  • Drones cannot fly over national parks, cross borders, public places, etc.
  • Foreign UAV operators may operate a UAV in Canada with an approved SFOC

Competitive Section

Key players operating in the global imaging technology market for precision agriculture are Bayspec, Quest Innovations, Tetracam, Pixelteq, Micasense, Resonon¸ Ximea, and Teledyne Dalsa.

Key Developments

  1. Key companies in the market are focused on product launches, in order to expand the product portfolio. For instance, in January 2018, BaySpec Inc. introduced hyperspectral imaging and spectroscopy solutions GoldenEye, Breeze, and OCI.
  2. Major market players are involved in product development, in order to enhance the market presence. For instance, in October 2019, MicaSense introduced RedEdge-MX Dual Camera imaging system, a drone camera for precision agriculture.

Precision agriculture (PA) is a farming management concept based on monitoring, measuring, and responding to inter and intra-field variability in crops. The primary objective of precision agriculture is to define a decision support system (DSS) for the entire farm management with goal to optimize returns on inputs while preserving resources. By collecting real-time data for agricultural parameters such as soil quality, chemical composition, air quality, moisture content, etc. decision about crop management is known as precision agriculture. There are various technologies available including variable rate technology, guidance technology, unmanned aerial vehicle, mapping technology, and global positioning system. Imaging technology comes under the unnamed aerial vehicles (UAV) wherein it captures images to collect data with the help of software.

Market Dynamics

Advent of unmanned aerial vehicle (UAV) has offered numerous advantages to precision farming along with ease of use, improved data accuracy, and low cost. This, in turn, provides accuracy of data for imaging systems, thereby augmenting precision farming. Moreover, there are various applications of imaging systems in precision farming such as animal monitoring, crop health monitoring, environmental impact assessment, irrigation equipment monitoring, weed and pest identification, and variable rate fertility.  Hence, these factors are expected to drive growth of the market during the forecast period. Usage of UAV for precision farming offers the various mentioned benefits over aircraft- and satellite-enabled imaging systems. Among these mentioned advantages, low cost and lesser time required to capture and analyze data are expected to be the primary factors driving the adoption of UAVs, which will result in increasing demand for imaging technology in precision farming. Hence, these factors are expected to propel the global imaging technology market for precision agriculture growth in the near future.

Market Taxonomy

This report segments the Global Imaging Technology Market for Precision Agriculture Market on the basis of Technology, Product and Region. On the basis of Technology, Global Imaging Technology Market for Precision Agriculture Market is segmented into Multispectral and Hyperspectral. On the basis of Communication System and platform, the Global Imaging Technology Market for Precision Agriculture Market is segmented into Camera, Sensor, Software and Others. On the basis of region, Global Imaging Technology Market for Precision Agriculture Market is segmented into GCC, North Africa, South Africa and Rest of MEA.

Key features of the study:

  • This report provides an in-depth analysis of the Global Imaging Technology Market for Precision Agriculture Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global Imaging Technology Market for Precision Agriculture Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the Global Imaging Technology Market for Precision Agriculture Market includes Bayspec, Quest Innovations, Tetracam, Pixelteq, Micasense, Resonon¸ Ximea, and Teledyne Dalsa.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
  • The global Imaging Technology Market for Precision Agriculture market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Imaging Technology Market for Precision Agriculture Market

Detailed Technologyation:

  • Global Imaging Technology Market for Precision Agriculture Market, By Technology:
    • Multispectral
    • Hyperspectral
  • Global Imaging Technology Market for Precision Agriculture Market, By Product:
    • Camera
    • Sensor
    • Software
    • Others
  • Global Imaging Technology Market for Precision Agriculture Market, By Region:
    • GCC
    •  North Africa
    • South Africa
    • Rest of MEA
  • Company Profiles
    • Bayspec
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Micasense
    • Pixelteq
    • Quest Innovations
    • Resonon
    • Teledyne Dalsa.
    • Tetracam
    • Ximea

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Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, BY Technology
      • Market Snippet, By Product
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Product Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. Analyst View on Impact of COVID-19 on Market
    • Short Term
    • Long term
  5. Global Imaging Technology Market for Precision Agriculture Market, BY Technology, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Technology Trends
    • Multispectral
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Hyperspectral
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Imaging Technology Market for Precision Agriculture Market, By Product, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Technology Trends
    • Camera
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Sensor
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Software
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Imaging Technology Market for Precision Agriculture Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By Product, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • GCC
      • Regional Trends
      • Market Size and Forecast, Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By Product, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • South America
      • Regional Trends
      • Market Size and Forecast, Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By Product, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Rest of Middle East
      • Regional Trends
      • Market Size and Forecast, Technology, 2020–2027(US$ Million)
      • Market Size and Forecast, By Product, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • South Africa
        • Rest of the Middle East and Africa
  8. Competitive Landscape
    • Company Profiles
      • Bayspec
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Micasense
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Pixelteq
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Quest Innovations
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Resonon
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Teledyne Dalsa.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Tetracam
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Ximea
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

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Frequently Asked Questions

The global market for Imaging Technology Market for Precision Agriculture is expected to reach USD 983.7 Million by 2022.
Increasing demand for imaging systems for precision farming is expected to drive growth of the global imaging technology market for precision agriculture during the forecast period.
Cameras sub-segment holds the largest market share among Product segment contributing 48.1% market share in terms of value in 2019.
North America region hold the largest share in the global Imaging Technology Market for Precision Agriculture in 2019, accounting for 54.4% share in terms of value.
Key players operating in the global Imaging Technology Market for Precision Agriculture are Bayspec, Quest Innovations, Tetracam, Pixelteq, Micasense, Resonon¸ Ximea, and Teledyne Dalsa
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