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Imaging Technology for Precision Agriculture Market

Global Market Study on Imaging Technology for Precision Agriculture: Demand for Cameras to Remain High Over the Decade

Imaging Technology for Precision Agriculture Market Segmented By Multispectral Technology and Hyperspectral Technology in Cameras, Sensors, Software

Imaging Technology for Precision Agriculture Market Outlook (2023-2033)

The global market for imaging technology for precision agriculture held a market value of US$ 955.4 Mn for the base year 2022. The market size is estimated to increase to the market value of US$ 1,042.3 Mn in 2023 and is estimated to reach US$ 2,889.3 Mn by 2033, growing at a CAGR of 10.7%.

Imaging technology in the precision agriculture uses agricultural drones, robots, and other UAVs to capture real-time images of crops and soil. It also includes yield mapping, soil surveying and sampling, crop status sensing, and field history collection. Basically, it will help to increase the production of agricultural products along with monitoring, measuring, and observing the crops.

Due to the growing global population, the demand for agricultural products will increase in the coming years, and farmers will need to produce more and more food crops to meet the demands. As a result, large farms are rapidly adopting imaging technology to enhance crops, minimise waste, and reduce the economic and other risks that consistently accompany agricultural ambiguity.

Regionally, North America was estimated to have held the largest market share of 28.8% in 2022, followed by Europe with a market share of 21.2% for the global imaging technology for precision agriculture market.

Imaging Technology for Precision Agriculture Market Size (2023)

US$ 1,042.3 Mn

Projected Market Value (2033)

US$ 2,889.3 Mn

Global Market Growth Rate (2023-2033)

10.7%

Hyperspectral Segment Market Share (2022)

53.4%

India Market Growth Rate (2022)

12.1%

Cameras Segment Market Share (2022)

41.9%

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What Factors Help the Growth of Imaging Technology for Precision Agriculture Market Globally?

“Imaging Technology and Precision Farming Allow the End Users to Gain Better Insights About their Agricultural Land”

Precision agriculture widely refers to the use of technologies in order to improve the overall efficiency of tasks and the quality and quantity of the yields obtained. Application of machines, in agriculture helps in accomplishing tasks in a short amount of time at a scale and efficiency much greater than human labour, this allows the farm owners to save both costs and money, allowing imaging technology for precision agriculture to be deployed upon agricultural lands. The imaging technologies provides the farmers necessary insights required for crop cutting and planning.

  • In December 2022, Cognizant announced that it had signed a memorandum of understanding (MoU) with Garuda Aerospace, for the agriculture sector, a new offering provides intelligent water and land management, aerial sowing, and crop drenching, along with others.
  • In December 2022, Lindsay Corporation declared a strategic partnership with Ceres Imaging, For High-resolution imagery integrated into Lindsay’s FieldNET irrigation management tool presents increased visibility of yield and soil conditions.
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Why is US Dominating the Imaging Technology for Precision Agriculture Market?

“Large Agricultural Companies and Arable Land Allow US to Dominate the Imaging Technology for Precision Agriculture Market”

The US has one of the largest arable lands; this is further supplemented by the presence of large agricultural companies situated in this country, allowing a large scope for the market of imaging technology for precision farming in the US. The use of precision farming technologies in this country is at a respectable level, allowing for the implementation of imaging technologies to be adopted as well.

These factors allow US to have the largest market share for the imaging technology for precision agriculture market over the forecast period and held the largest market share of 28.8% for 2022.

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Why is India a Fast Growing Market for Imaging Technology for Precision Agriculture Market?

“Large Arable Land and Scope for the Growth of Precision Farming in India”

India is a country that has a major part of its population employed in the agricultural sector, and like the US, it has one of the largest landmasses of arable lands. However, technological and precision technology implementation has yet to match the technological advancements of several developed countries. Government initiatives and growth in the income levels of the agricultural community in this country should allow for growth in the implementation of imaging technology for precision agriculture in India.

These factors allow India allow the country to be one of the fastest developing market for the imaging technology for precision agriculture, growing at a CAGR of 12.1% over the forecast period.

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Why is Brazil a Significant Market for Imaging Technology for Precision Agriculture?

“Agriculture Being a Large Industry in Brazil, Allows for the High Demand for Imaging Technology for Precision Agriculture”

Brazil has the largest arable land and population in Latin America; the agriculture industry is also one of the largest industries in this country, allowing the demand for and implementation of imaging technology for precision farming to be highly lucrative in Brazil. Brazil is also one of the largest producers of sugarcane and exporters of coffee, beef, and soy beans. Apart from the production of sugarcane, it is also among the largest producers of several other food crops, including fruits and beans, implying that agriculture is a massive part of the Brazilian economy.

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Why Hyperspectral Imagery Holds the Larger Market Share by Application for the Imaging Technology for Precision Agriculture?

“Greater Industrial Use of Hyperspectral Imagery Allows it to Have the Larger Market Share by Application”

While both multispectral imagery and hyperspectral imagery have their own unique use cases, both are important depending on their application and the needs of the end users. Hyperspectral imaging can be used to detect bruises in fruits and vegetables, to determine the freshness of fish, and to sort potatoes. Due to the application of hyperspectral imagery in the seafood industry and the sorting of food products that could be implemented in agricultural industries and storehouses, the demand for hyperspectral imagery holds a narrow edge over multispectral imagery, allowing this application to have a larger market share of 53.4%.

Why Cameras held the Largest Market Share by Technology?

Numerous Applications of Cameras in Agricultural Sector, allow it to Hold the Largest Market Share

Cameras held the largest market share in the imaging technology for precision agriculture, which includes the widespread use of cameras in agriculture. The multispectral and hyperspectral imagery allows the end users to determine numerous factors influencing agriculture, such as CO2 presence in the air, the size of algae blooms in water, and the use of satellite imagery to provide the end users with greater insights and information necessary for agriculture. Due to these reasons, cameras held the largest market share of 41.9% for the year 2022.

Competitive Landscape

The companies that operate in the imaging technology for precision agriculture are often companies that have their complete focus on precision farming, or they develop tools and devices that also have a use in agriculture, such as UAV (unmanned aerial vehicle) manufacturers.

  • In January 2023, Dragonfly Aerospace launched its first imaging satellite, EOS SAT-1, It is the world’s first agriculture-focused satellite constellation. It will provide the agriculture and forestry industry with efficient data to advance sustainable practices and ensure profitability.
  • In July 2022, General Aeronautics announced that, they have begun commercial production of agricultural drones, after conducting trials for the last three years.

Recent developments related to key players providing imaging technology for precision agriculture market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Imaging Technology for Precision Agriculture Market Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2018-2022

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • Technique
  • Product
  • Region

Key Companies Profiled

  • Tetracam
  • Bayspec
  • MicaSense
  • XIMEA
  • Teledyne DALSA
  • Resonon
  • Pixelteq
  • Sentek Technologies
  • Quest-Innovations BV
  • 4D Technologies
  • Others

Pricing

Available upon Request

Key Segments of Imaging Technology for Precision Agriculture Market Research

By Technique:

  • Multispectral
  • Hyperspectral

By Product:

  • Sensors
  • Cameras
  • Software
  • Other Products

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

- Companies Covered in This Report -

  • Tetracam
  • Bayspec
  • MicaSense
  • XIMEA
  • Teledyne DALSA
  • Resonon
  • Pixelteq
  • Sentek Technologies
  • Quest-Innovations BV
  • 4D Technologies
  • Others

- Frequently Asked Questions -

In 2022, demand for imaging technology for precision agriculture markets for a valuation of US$ 955.4 Mn.

The globally imaging technology for precision agriculture market is estimated to grow at 10.7% CAGR over the forecast period.

The market for the imaging technology for precision agriculture is forecasted to climb to US$ 2,889.3 Mn by 2033-end.

Demand for imaging technology for precision agriculture in India is projected to rise 12.1% CAGR over the next ten years.

In 2022, the North American imaging technology for precision agriculture market held a dominant market share of 28.8%.

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