The global imaging technology market for precision agriculture is anticipated to grow from US$ 567.4 Mn in 2016 to US$ 1,165.9 Mn by 2024, registering a CAGR of 9.0% in terms of revenue during the forecast period (2016-2024). In this report, the global imaging technology market for precision agriculture is tracked in terms of value and is calibrated to obtain market revenue estimates.
Increasing adoption of imaging technologies for precision agricultural applications supported with UAVs is a major factor driving the growth of the global imaging technology market for precision agriculture. Demand for imaging technology for precision agriculture is strongly associated with the growth of UAVs commercial applications market, as sensors are mounted on these UAVs in order to capture the data. Moreover, demand for hyperspectral technologies is expected to increase for precision agriculture applications because of the granularity of the information provided by this technology, which can be used to make better crop management decisions.

However, lack of awareness about the technology, ambiguity about the returns, substitute technologies available to farmers such as Global Navigation Satellite System (GNSS), and unclear regulations for UAVs commercial applications across various countries are major challenges expected to be faced by market players operating in the global imaging technology market for precision agriculture during the forecast period.

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The global imaging technology market for precision agriculture is segmented into two main segments – namely by technology and by product. The technology segmented is further sub-segmented into multispectral technology and hyperspectral technology. The product segment is further sub-segmented into cameras, sensors, software, and others.

Key players reported in this study on the global imaging technology market for precision agriculture include Bayspec, Tetracam, Micasense, Ximea, Teledyne Dalsa, and Resonon. These companies have significantly increased their footprint in the global imaging technology market for precision agriculture over the years.

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