Agricultural drones, the Future of Farming

Agricultural drones, used early in Japan, are increasingly fulfilling vital functions for modern agriculture. Their market could exceed $ 30 billion in the next few years.

Agricultural drones, the Future of Farming

 

You may be familiar with the idea that drones deliver products or monitor safety zones, but did you know that drones were first marketed in Japan for agricultural purposes, notes The Motley Fool. A recent report by PwC estimates the potential market for agricultural drones at $ 32.4 billion (30.5 billion euros), just after infrastructure only. Bank of America Merrill Lynch anticipates that agriculture could account for almost 80% of the market for commercial drones in the future, with the potential to generate $ 82 billion in economic activity in the United States between 2015 and 2025. It is therefore not surprising that large manufacturers of drones, such as AeroVironment Inc., are increasingly focusing on agriculture.

Olga Grygier-Siddons, Chief Executive of PwC in Central and Eastern Europe, says:

“I am very proud that we have developed a global centre of excellence right here in Central and Eastern Europe that uses drones and geospatial data analytics to help clients. This is the first PwC team of its kind anywhere in the world. If you ask me, it’s no surprise that this team was formed right here in our region. We see real change happening in the business culture of CEE.

“For a long time, business success in our region has been based on cost competitiveness, but now there is a real desire on the part of our clients and colleagues to compete instead on value, created through innovation.”

Michal Mazur, partner and head of Drone Powered Solutions at PwC for Central and Eastern Europe, adds: “We are currently in discussion with several major companies from a wide range of industries about how they can use drones to improve their business processes. This got us thinking about the potential value of the global drone-powered solutions market. With an estimated market value of over $127 bn in commercial applications, drones are making the transition from novelty item to indispensable business tool.”

According to the PwC report Clarity from above, the addressable market value of drone powered solutions is over $127 bn. This is the value of current business services and labour that are likely to be replaced in the very near future by drone powered solutions, according to PwC predictions. The industry with the best prospects for drone applications is infrastructure, with total addressable market value of approx. $45.2 bn.

Piotr Romanowski, Business Advisory Leader at PwC in Central and Eastern Europe, concludes: “At PwC, we are expanding our business advisory capabilities to help clients across the full life cycle of their business projects, from strategy through execution. The implementation of business projects now involves a strong technology component. That is why we are investing in becoming more technology enabled, through acquisitions of specialised technology companies such as Outbox and through the development of our own technology services, such as our Drone Powered Solutions team.”

The full report Clarity from above can be found at: www.pwc.pl/clarityfromabove

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