Press release
South Korea Agriculture Drone Market Size to Grow at a CAGR of 12.5%% in the Forecast Period of 2023-2028
South Korea Agriculture Drone Market
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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South Korea Agriculture Drone Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 12.5%
Increased concerns regarding the environment are expected to drive the growth of the South Korea agriculture drone market as application of drones in the agricultural domain ensures that chemicals such as insecticides and pesticides are not sprayed across the field but at specific sites and spots. This helps in reducing chemical drift and is beneficial to nearby crops and fields.
Furthermore, agriculture drones eliminate the need for crop dusters and full field sprayers, additionally helping in the reduction of air pollution. Realisation of the vast potential benefits of employing drones in the agricultural sector has led to relaxation of several regulations and increase in support provided by the government of South Korea to the market.
Agriculture drones aid in detecting harmful bacteria and chemicals in agriculture fields and water streams, thereby improving the quality of the yield produced and curbing pest growth which ensures healthy crops are obtained and financial losses are avoided. Incorporation of high-resolution cameras in agriculture drones have resulted in improved variable rate prescriptions and optimisation of water, fertiliser, and seed usage, further contributing to the market growth. Adoption of safe, reliable, and fast surveillance systems has significantly driven the growth of South Korea agriculture drone market.
South Korea Agriculture Drone Industry Definition and Major Segments
An agriculture drone is an unmanned aerial vehicle that is remotely controlled for performing agriculture operations such as crop growth monitoring, yield optimisation and data gathering on crop health, growth phase and soil differences. With the aid of multispectral sensors, agriculture drones are able to capture electromagnetic radiations such as short-wave infrared and near infrared.
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On the basis of offering, the market is bifurcated into:
Hardware
Breakup by Type
Fixed Wing Drones
Rotary Blade Drones
Hybrid Drones
Software and Services
Breakup by Type
Data Management Software
Imaging Software
Data Analytics Software
Others
Based on component, the market is segmented into:
Frame
Camera System
Controller System
Battery
Propulsion System
Navigation System
Others
On the basis of application, the market is divided into:
Precision Farming
Livestock Monitoring
Precision Fish Farming
Smart Greenhouse
Others
South Korea Agriculture Drone Market Trends
The key trends in the South Korea agriculture drone market include the increase in development of research programs by key agriculture drone manufacturers with the aim of improving the functioning of the machines to provide better quality imaging and data accuracy. Rapid population expansion has resulted in increase in demand for food products, consequently the employment of drones in the agriculture sector has increased in order to ensure that better yield and quality of crops is achieved.
Application of drones for providing necessary pesticides and growth boosters as well as monitoring overall plant growth and development is expected to improve the quality of produce and propel the growth of the South Korea agriculture drone market.
Technological advancements such as introduction of automated flight planning are key trends that can aid in combating unpredictable weather conditions along with soil mapping, such advancements are further expected to contribute towards the market growth.
Increased application of agriculture drones by farmers to streamline tasks is anticipated to increase productivity and decrease labour costs. Sensor payloads are further contributing to the growth of the market by providing site specific data and field surveillance on pest management and irrigation requirements.
Key Market Players
The major players in the South Korea agriculture drone market report are:
SZ DJI Technology Co., Ltd
Preneu Co. Ltd.
Helsel Co., Ltd
GiantDrone Co., Ltd
UconSystem Co., Ltd.
XAG Co., Ltd
others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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