Key Market Trends:

Hyper-spectral cameras were introduced and the early application included satellite imagery but was later introduced for precision agriculture application. Hyper-spectral cameras were very costly and mainly targeted towards industrial applications, however later with costs coming down, its applications for agriculture purposes have been increasing.

Multi-spectral imaging is witnessing increase in demand from sectors such as agriculture, owing to the low cost of technology. Relatively small size of multi-spectral cameras makes them useful with micro drones, particularly for applications in the agriculture sector


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Market Opportunities

Increase in adoption of new technology has presented lucrative growth opportunities. 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 also resulted in increase in agricultural production.

Increasing demand for agricultural products is providing major business opportunities as according to National Intelligence Council report, 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.


Key Market Drivers

Advent of unmanned aerial vehicle (UAV) has offered numerous advantages to precision farming along with ease of use, improved data accuracy, and low cost. Moreover, there are various applications of imaging systems in precision farming such as animal monitoring, crop health monitoring, environmental impact assessment and other which are expected to drive growth

Usage of UAV for precision farming offers the various benefits over aircraft- and satellite-enabled imaging systems. Among those advantages, low cost and lesser time required to capture and analyze data are expected to be the primary factors driving the adoption of UAVs leads to increase in demand.


Key Market Restraints

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

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


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


Regulations (Drone Laws in the U.S)

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


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Market Segmentation:

By Technology:
Multispectral and Hyperspectral

By Product:
Camera, Sensor, Software and Others