Agro-Drones Market May Have Robust Growth but Do Farmers Know Drones Yet? - Aarkstore Enterprise
NAVI MUMBAI, India, September 16, 2019 (Newswire.com) - Market Research Reports of the global agriculture drone market project the integration of drone technology in the agriculture industry will be a major help for farm production challenges, such as shifting the structure of the agro-workforce, decreased arable land, fast-growing population, etc.
The global agriculture market is valued at around USD $802 million. With the growing expansion projects, the market is projected to have a strong reach of USD $2957.9 million by the end of 2021. Growth factors such as increasing the implementation of drone technology in the agriculture sector are causing the CAGR to be around 29.8% between 2017 and 2021.
The following are some of the market growth drivers that are making the market CAGR stronger:
The food production requirement is increasing globally, which is encouraging technological advancements to increase production. According to a recent report by FAO, the world population is estimated to cross 9 billion, which means we would need double the food production by 2050. Though there’s a prominent increase in the global food demand, the challenges in increasing arable land areas are huge in the present scenario.
The need for precision agriculture is another growth factor in the global agriculture drone market. Though developing countries with poor price structures are lacking and behind in technologically advancing in the farming sector, the global market is still hopeful with the increased use of drones around the globe. To add to the growth factors list, the shortage of labor issue is on the rise. The declined interest in the new generation is said to be the main reason behind the labor shortage problem.
Despite several opportunities getting introduced, the following are the hurdles that may hamper the agriculture drone market growth.
The rise in the prices of agriculture production due to increased inflation issues stands as the first restraint in the global industry's growth. While government subsidies around the world are striving to overcome such challenges with low import duties, the costly investment in agriculture ultimately reflects the final output cost.
Lack of awareness in the farmers about the latest agro-technology has become another challenge in industrial growth. To make operations easy for farmers, technical education about advanced products, such as agriculture drones, is a key requirement at present.
For more information about this report visit: https://www.aarkstore.com/aerospace-defense/1690460/global-agriculture-drones-market-research-report
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