The global precision agriculture market to reach approx. US$ 7.9 billion by 2022 growing at a CAGR of 16%.
Precision agriculture involves the smart usage of technology to enable better decision making and optimized use of resources on farming. Precision agriculture can stand to be a key to achieve higher yields and to effectively tackle the rising food demand. Precision farming, involves deployment of a web of sensors, drones and software to gather, process and analyze data to derive actionable insights for on-farm decisions.
Worldwide precision agriculture market research report considers the present scenario and growth aspect of worldwide precision agriculture market for the period 2017−2022. It includes the market growth drivers, trends, and restraints and provides an in-depth analysis of the market size of the major regions and key countries. It also analyzes leading five vendors and ten other prominent vendors in the precision agriculture market.
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Scope of the Report:
This market research report categories the global precision agriculture market based on component, application type and geography. The report provides the market size in terms of revenue
-Guidance and Monitoring System
-Variable Rate Technology
The market research report also provides the market share and profiles the key vendors operating in the global precision agriculture market and provides the detailed competitive landscape of key players.
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Precision Agriculture Market – Market Size and Dynamics
Analysts at Publisher expects the worldwide precision agriculture market to reach approx. US$ 7.9 billion growing at a CAGR of 16%. The market is going to witness a drastic growth due to the huge adoption of precision agriculture. The evolution of GIS and GNSS ecosystem, falling prices of sensors and the mobile revolution has enabled the adoption of navigation systems and its expanded application in the domain of agriculture. Some of the major factors that are driving the adoption of precision agriculture are Urbanisation, climatic factors, demand and price agility and sustainability.
Guidance and monitoring systems, Variable rate technologies and Telematics are some of the major applications discussed in precision agriculture. Guidance and monitoring systems remains to be the fastest growing application. Guidance systems can be termed to be in advanced stage of adoption on account of well-established case studies in various other applications (GPS and remote sensing) . Variable rate technologies on the other hand are limited by the fact that they are to be integrated with the conventional farm equipment for their end use accomplishment. GIS and remote sensing is majorly used by federal agencies and research projects for large-scale analysis in agriculture.
Precision Agriculture Market – Trends, Drivers, and Challenges
The market research report outlines the emerging trends, major driving factors and upcoming challenges of global precision agriculture market. Proliferation of mobile connectivity and smartphones, volatile prices of commodities and input raw materials, population growth driving increased food demand are among the major driving factors of precision agriculture market described in the report.
The global precision agriculture market is going to witness a dramatic shift in its growth due to the emerging trends in the global market. One of the emerging trends of precision agriculture market included and analysed in the report are regulatory frameworks to impart better clarity on UAV usage. Drones constitute a vital device of the Precision agriculture ecosystem. The regulatory landscape associated with the usage of drones is undergoing an evolution with policy makers wither upgrading the regulatory frameworks or establishing new ones.
The adoption of smartphones in farming community is viewed as a precursor to Precision agriculture for that it enables better exchange of information with various stakeholders. Hence, proliferation of mobile connectivity and smartphones is described as one of the major factors driving the growth of the market.
The report contains the details of the upcoming challenges for the precision agriculture market. It also provides the Porter’s five forces analysis along with a description of each of the forces and its impact on the market.
Precision Agriculture Market – Geographical Analysis
The report includes the market analysis of global precision agriculture market in different regions such as North America, APAC, EMEA and Latin America. The report outlines the major market share holder in the market and the market size analysis of all the regions. The market research report also provides the market size and forecast of key countries. Precision agriculture fits the requirement of adopting improved technologies in the major countries of APAC region to enhance their yields. Countries such as India, China, Japan, Indonesia and Bangladesh represents a huge market for precision agriculture.
EMEA represents a diverse yet large agricultural markets that are characterized with their own set of nuances. While Europe represents an ideal ready-to-be tapped opportunity for Precision agriculture players, the same is not the case for Middle East and Africa.
North America represents the largest market for Precision agriculture also US stands to be the largest market. The region represents the fastest in terms of growth and largest in the world in terms of adoption and demand for precision agriculture.
Precision Agriculture Market – Market Share and Key Vendors
This market research report profiles the major companies in the market and also provides the competitive landscape of key players. Within the report covers the entire precision agriculture market outlook regarding the value chain operating within the market. The major players in the market include
-Deere and Company
Other Top Vendors of precision agriculture market include Ag Leader Technology, DICKEY – john Corporation, Precision Planting Company , Lindsay, Raven Industries, Novaraint Inc, SST Software, TeeJet Technologies, Valmont Industries, Yara International.
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