/ Report Details / Imaging Technology Market for Precision Agriculture Market: By Technology (Hyperspectral technology
Imaging Technology Market for Precision Agriculture Market: By Technology (Hyperspectral technology, Multispectral technology), By Product (Sensor {Thermal sensors, Infrared sensors}, Camera {High-definition camera}, Software and others), By regions (North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa)
Report Code: AV1043
Industry: Semiconductor and Electronics
Publiced On: 2021-10-10
Pages: 333
Format:
REPORT HIGHLIGHT
The global Imaging Technology Market for Precision Agriculture market is estimated to be valued at USD 1165 million by 2024, and the global CAGR is expected to be around 9%.
Precision agriculture is a management philosophy where data is used continuously to predict and analyze various parameters concerning farming and is then utilized to improve the efficiency, productivity, profitability, and quality of the farm produce. Imaging technologies through UAVs, drones and remote sensing are being used to analyze farms better and understand the various parameters. Imaging and computer vision can predict the yield of crops, the health of the crops, and farmers can make decisions to improve the yield.
MARKET DYNAMICS
There has been a significant demand across the world to increase the yield and output of farm produce but at the same time utilize fewer resources. Achieving food security is a substantial driver for adopting precise farming techniques. Emerging nations and economies are facing requirements to feed a considerable population at any cost. Using resources sustainably such as water, soil, fertilizers within a limit has become the need of the hour. Food security and sustainable production can only be achieved through precise applications of fertilizers, water, and nutrients with data analysis and digital-based algorithms. Hence crop management and innovative farming techniques are increasing demand, and computer vision can enable such developments.
Another critical factor for the adoption is the increase in the acceptance being gained by the farmers. Data captured on various parameters such as insects and pests, air quality, soil quality, and crop yield affecting crop development have been insightful.
Improvement in technological advancements and reduction in deployment costs has also made this industry attractive. UAV and drone vehicles can be used for farm surveillance to scan farms, predict the farm conditions, and forecast the yield of various crops. Digital techniques have also increased the accuracy of data reports and have made them reliable for farmers. Multiple applications have been developed through digital processes such as irrigation equipment monitoring, pest and weed identification, crop health monitoring, animal monitoring, variable rate fertility, and environmental impact assessment. These have made it easy for farmers and agribusinesses. These applications are likely to boost the demand for the imaging technology market.
Certain restraints for adopting digital techniques precision ag are the lack of awareness and a high initial setup cost technology-wise.
MARKET SEGMENTATION
Technology Takeaway
Based on technology, the segment is divided into multispectral and hyperspectral technologies. One of the two, multispectral image technology, is estimated to hold the highest share in revenue in the market, around 30% and above. Multispectral is a technique where data is captured within all wavelengths of an electromagnetic spectrum. The different wavelengths are then separated using a filter. Certain instruments that are sensitive to particular wavelengths are also utilized while observing farms. These instruments are mainly used to keep wavelengths beyond the visible spectrum. Multispectral is usually captured through satellite imagery, where long periods are utilized to observe and capture the images. The main reason for driving the adoption of such techniques is the ease of commercial satellites and accessibility to data collected by satellites. Various agribusinesses have been using remote sensing techniques to identify, capture and analyze farm-level data to deliver precise farming methods.
However, hyperspectral technologies are forecasted to grow the fastest in the forecasted period. The key factors driving an increased growth are the ease in availability of data and information and a decrease in the cost of implementation. Hyperspectral imagery involves collecting and processing data on specific objects. Hence it is becoming more valuable in particular applications such as agriculture. For example, Hyperspectral can be used to obtain unique signatures of crops and their yields. It can be used to differentiate and identify notable crop developments such as corn or cotton etc.
Product Type Takeaway
Products are divided into various segments such as cameras, Software, sensors, and others. The percentage share of the revenue for the camera segment is the highest at 45.8%. It is because of the detailed data that can be captured through the camera. Computer vision and image processing can be used to analyze and generate data on crops, soil, air quality, weather, etc., which helps carry out precise farming techniques. Cameras also can be fitted in UAVs and satellites making it a mobile application to gather and process data. The data from the cameras can then be sent through an algorithm to extract information.
The sensors segment accounts highest growth rate, owing to the improvement in technology and the cost-effectiveness involved in the sensors. Innovations such as machine-to-machine communication and IOT will also add value to the data extracted from sensors. Various sensors such as weather and soil monitoring help understand the farm conditions and help take precise actions. Thermal sensors and spectroscopy also help identify unique crop signatures that are useful for inputs and carry out precise farming.
REGIONAL TAKEAWAY
The Imaging technology market for precision agriculture is divided into North America, Europe, Latin America, APAC, and the Middle East and Africa. The North America Imaging technology market for precision agriculture has the highest share and is expected to account for 54.2% by 2024. It is because of intense research and development carried out in the region concerning imagery and sensors for precise farming techniques. The country is a hub for software development, has also seen an improvement in the algorithms used concerning data analytics and insights generated for farming, farmers, and agribusinesses.
The Asian Pacific market is expected to grow fast during the forecast period and is estimated to be worth $233.4 Mn by 2024. It is because of the cost-effectiveness involved with the technology. Since the regions comprise mainly smallholding farmers, it is vital that fewer resources are utilized while carrying out farming operations. To enable this, digital solutions need to be developed and deployed in such regions. Many start-ups and companies are already undertaking market expansion in such areas and providing solutions to farmers.
COVID-19 IMPACT
Even though COVID has affected many industries and disrupted the supply chain significantly, agriculture has not been affected much. Farming practices have been on the run because of the demand in the food sector and the ongoing requirement for essential commodities. On the contrary, COVID has accelerated the digitization of agriculture, paving the way for innovations such as imagery, drone utilization, and remote sensing. Farmers have adopted digital solutions, and agribusinesses have become open to
KEY PLAYERS
Prominent companies in the Imaging technology market for precision agriculture are 4D Technologies, MicaSense, Bayspec, Pixelteq, Resonon, Teledyne DALSA, Tetracam, XIMEA, Gamaya, Copin, Indigoag, Satsure, Quest-Innovations BV, Ceres Imaging, Sentek Technologies, and others.
Many vendors and agribusinesses are developing solutions around precise farming techniques and expanding. Competitiveness is brought into the industry by start-ups producing innovative solutions such as smart farm management systems. Various companies employ growth strategies such as strategic alliances, mergers and acquisitions, and new product developments to capture the industry. Emerging economies have become a prime target because of faster growth.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2018
- Base Year – 2019
- Estimated Year – 2020
- Projected Year – 2021 to 2027
TARGET AUDIENCE
- Manufacturers
- Raw Material Suppliers
- Distributors
- Original Equipment Manufacturers
- Consulting Firms
- Government and Regional Agencies
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE KEY PLAYERS
- 4D Technologies
- MicaSense
- Bayspec
- Quest-Innovations BV
- Pixelteq
- Resonon
- Teledyne DALSA
- Sentek Technologies
- Tetracam
- XIMEA
- Gamaya
- Ceres Imaging
- Cropin
- Indigoag
- Satsure
GLOBAL IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE, BY TECHNOLOGY
- Hyperspectral technology
- Multispectral technology
GLOBAL IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE, BY PRODUCT
- Sensor
- Thermal sensors
- Infrared sensors
- Camera
- High Definition camera
- Software
- others
GLOBAL IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE, BY REGIONS
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Technology
2.1.2. Market Snippet by Product
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE INDUSTRY STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE : COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE – BY TECHNOLOGY
7.1. Overview
7.1.1. Segment Share Analysis, By Technology, 2020 & 2027 (%)
7.2. Hyperspectral Technology
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.3. Multispectral Technology
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8. IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE – BY PRODUCT
8.1. Overview
8.1.1. Segment Share Analysis, By Products, 2020 & 2027 (%)
8.2. Sensor
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.2.2.1. Thermal sensors
8.2.2.1.1. Overview
8.2.2.1.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.2.2.2. Infrared sensors
8.2.2.2.1. Overview
8.2.2.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3. Camera
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3.2.1. High definition camera
8.3.2.1.1. Overview
8.3.2.1.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 -
8.4. Software
8.4.1. Overview
8.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9. IMAGING TECHNOLOGY MARKET FOR PRECISION AGRICULTURE – BY GEOGRAPHY
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.2.4. North America Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.2.5. North America Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.6.3. U.S. Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.2.6.4. U.S. Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.2.7.3. Canada Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.2.7.4. Canada Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.3.4. Europe Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.3.5. Europe Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.6.3. Germany Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.3.6.4. Germany Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.7.3. Italy Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.3.7.4. Italy Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.8.3. United Kingdom Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.3.8.4. United Kingdom Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.9.3. France Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.3.9.4. France Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.3.10. Rest of Europe
9.3.10.1. Overview
9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3.10.3. Rest of Europe Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.3.10.4. Rest of Europe Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.4. Asia Pacific
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.4.4. Asia Pacific Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.4.5. Asia Pacific Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.6.3. India Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.4.6.4. India Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.7.3. China Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.4.7.4. China Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.8.3. Japan Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.4.8.4. Japan Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.4.9. Rest of APAC
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.4.9.3. Rest of APAC Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.4.9.4. Rest of APAC Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.5.4. Latin America Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.5.5. Latin America Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.6.3. Brazil Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.5.6.4. Brazil Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.7.3. Mexico Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.5.7.4. Mexico Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.8.3. Argentina Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.5.8.4. Argentina Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.5.9. Rest of Europe
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.5.9.3. Rest of LATAM Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.5.9.4. Rest of LATAM Market Size and Forecast, By Product, 2016 - 2027 (US Billion)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
9.6.4. Middle East and Africa Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.6.5. Middle East and Africa Market Size and Forecast, By Product, 2016 - 2027 (US$ Billion)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Product, 2016 - 2027 (US$ Billion)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.7.3. United Arab Emirates Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.6.7.4. United Arab Emirates Market Size and Forecast, By Product, 2016 - 2027 (US$ Billion)
9.6.8. Rest of MEA
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.6.8.3. Rest of MEA Market Size and Forecast, By Technology, 2016 - 2027 (US$ Billion)
9.6.8.4. Rest of MEA Market Size and Forecast, By Product, 2016 - 2027 (US$ Billion)
10. KEY VENDOR ANALYSIS
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. 4D Technologies
10.2.1.1. Company Snapshot
10.2.1.2. Financial Performance
10.2.1.3. Product Benchmarking
10.2.1.4. Strategic Initiatives
10.2.2. MicaSense
10.2.3. Bayspec
10.2.4. Quest-Innovations BV
10.2.5. Pixelteq
10.2.6. Resonon
10.2.7. Teledyne DALSA
10.2.8. Sentek Technologies
10.2.9. Tetracam
10.2.10. XIMEA
10.2.11. Gamaya
10.2.12. Ceres Imaging
10.2.13. Cropin
10.2.14. Indigo ag
10.2.15. Satsure
11. 360 DEGREE ANALYST VIEW
12. APPENDIX
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
