According to the
current analysis of Reports and Data, the global Precision
Farming/Agriculture Market was valued at USD 5.3 Billion
in 2018 and is expected to reach USD 14.1 Billion by the year 2026, at a CAGR
of 12.7%. This high growth is mainly attributable to an increasing usage of GPS
& GIS systems to monitor agricultural parameters. These field mapping
systems help to gather real-time data and enable the analysis of a huge
geospatial data set.
This
report delivers a cumulative synopsis of the speculations of this business,
overall, along with an evaluation of its segmentations. It predicts the market
to advance as one of the most profitable verticals, generating massive revenue
by the end of the forecast years, exhibiting a sizable growth rate over the
calculated period. The opportunities for growth and expansion that are
prominent in the sector as well as the geographical coverage of the industry
have also been investigated by the report.
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Key participants
include Deere & Company (US), Trimble (US), AGCO Corporation (US),
AgJunction (US), Raven Industries (US), AG Leader (US), Precision Planting
(US), The Climate Corporation (US), Descartes Labs (US), ec2ce (Spain), Gamaya
(Switzerland), Decisive Farming/Agriculture (Canada).
Further key findings from the report
suggest
- Precision Farming/Agriculture
market in North America was the largest with a share of 2% in 2018. The
market here is projected to grow at a CAGR of 11.0% during the forecast
period.
- The increasing adoption of
efficient and sustainable Farming/Agriculture practices to ensure food
security is one of the primary factors contributing to the use of
precision Farming/Agriculture techniques in the agriculture sector.
- In 2018, the U.S. precision
Farming/Agriculture market sales grew to USD 1.3 billion, at a CAGR of
9.3% during the forecast period.
- The Asia-Pacific region is
projected to be the fastest growing market during the forecast period,
growing at a CAGR of 18.7%. Presence of countries with the largest
population, rising demands for food products, and the need to enhance farm
output drive the demand for precision Farming/Agriculture techniques in
the region.
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For the purpose of this
report, Reports and Data has segmented the precision Farming/Agriculture market
on the basis of component, technology, application, and region:
Component (Revenue, USD
Million; 2016–2026)
- Hardware
- Automation & Control Systems
- Display
- Guidance & Steering
- GPS & GNSS
- Drones, UAV & Cameras
- Others
- Sensing and Monitoring Device
- Yield Monitors
- Soil Sensors
- Water Sensors
- Climate Sensors
- Software
- Services
- Consulting & training
- Maintenance & update
- Integration
- Managed Service
- Other Services
Technology (Revenue,
USD Million; 2016–2026)
- Guidance Technology
- Remote Sensing
- Variable-Rate Technology
Application (Revenue,
USD Million; 2016–2026)
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking &
Forecasting
- Irrigation Management
- Inventory Management
- Farm Labor Management
- Financial Management
- Others
Regional Outlook
(Revenue in USD Million; 2016–2026)
- North America
- US.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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full report here @
https://www.reportsanddata.com/report-detail/precision-farming-agriculture-market
Objective of Studies:
·
To
provide detailed analysis of the market structure along with forecast of the
various segments and sub-segments of the global Precision Farming/Agriculture
market.
·
To
provide insights about factors affecting the market growth. To analyze the Precision
Farming/Agriculture market based on various factors- price analysis, supply
chain analysis, Porte five force analysis etc.
·
To
provide historical and forecast revenue of the market segments and sub-segments
with respect to four main geographies and their countries- North America,
Europe, Asia, Latin America and Rest of the World.
·
To
provide country level analysis of the market with respect to the current market
size and future prospective.
Thank
you for reading this article. You can also get chapter-wise sections or
region-wise report coverage for North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa.
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