Precision Agriculture Market Research Report

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The GMI Research predicts that the Precision Agriculture Market will witness an expansion in demand over the forecast period.

Global Precision Agriculture Market Share, Size, Trends Analysis Report

 

The GMI Research predicts that the Precision Agriculture Market will witness an expansion in demand over the forecast period. This is attributed to their soaring implementation of yield administration to apprehend variability of field, interpret data to make enhanced decisions, and the increasing endorsement of sophisticated farming systems.

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Introduction of the Precision Agriculture Market:

Precision agriculture, also called satellite farming, refers to a concept of farming management that measures, observes, and reciprocates to inter and intra-filed changeability in crops. Its prime purpose is to offer a support system for decision-making to oversee the operations of farms while intensifying returns on inputs and conserve resources. The precision agriculture solution, such as weather tracking and mobile predicting applications succour farmers to frame their farming activities as per the varying environmental conditions.

Key Market Players:

  • Bayer CropScience AG
  • Deere Company
  • Farmers Edge Inc.
  • AgSense LLC
  • Topcon Corporation
  • Case IH Agriculture
  • Monsanto Company
  • Fairport Farm Software
  • Raven Industries
  • Trimble Navigation Limited

Precision Agriculture Market Dynamics

The augmenting requirement for optimized production with scarce resources along with the surging food demand throughout the world are the key factors proliferating the growth of the global precision agriculture market. In addition, the rigorous alteration in the climatic conditions because of the increasing global warming is encouraging the endorsement of these solutions to reduce the chances of crop damage is further strengthening the precision agriculture market growth. Moreover, leading market producers are increasingly concentrating on technological innovations, such as the initiation of real-time farm supervision systems and weather predicting systems. Further, this technological development is assisting farmers in controlling their resources and offering ingression to real-time information with the help of smartphones, thereby proffering enhanced motility and convenience of functions to the farmers. On the other edge, the insufficient consciousness among the farmers concerned with the advantageous features related to precision agricultural solutions is speculated to hinder the precision agriculture market size.

Technology Segment Drivers

Based on the technology, the precision agriculture market can be subdivided into Guidance, Remote Sensing and Variable-Rate Technology. Amongst all of this, Guidance Technology is contemplated to witness a higher rate of growth over the forecast period. This is because of the early endorsement of this technology by growers throughout the nation. Further, the Guidance Technology is bifurcated into GIS-based Guidance Technology and GPS/GNSS-Based Guidance Technology. In which, The Global positioning system (GPS) segment is fuelling at a higher compound annual growth rate in the near future. This is because of the accelerating implementation of novel and sophisticated devices for precision farming. Moreover, the application of GPS technology assisted farmers in reducing the creasing of tools and tractor passing, which further retains the labour cost, fuel, time, and soil condensing, thereby energizing the precision agriculture market opportunities.

Component Segment Drivers

In accordance with the component, the market is dismembered into Software, Hardware, and Services. The Hardware segment is projected to dominate the market and sustain its dominance over the coming years. As per the precision agriculture market report, the excessive application of mechanization and control devices, such as irrigation controllers, drones, yield supervision systems, and sensors are impelling the market growth.

Regional Drivers

On the basis of geographical coverage, the North American region is predicted to capture a notable portion of the market during the forecast period. Enormous countries like the United States of America and Canada are adjudged to be the primary acquirers of precision farming technologies across the North American region, which is thereby stimulating the market growth. Besides this, the farmers in this area are increasingly acquiring sophisticated farming systems and tools, which include display devices, sensors, and other management software, to assist them in bolstering the production volume of their return. Thus, the combination of all these factors is likely to bring enormous growth opportunities for the market.

Precision Agriculture Market Segmentation:

Segmentation by Technology
  • Guidance Technology
  • GPS/GNSS-Based Guidance Technology
  • GIS-based Guidance Technology
  • Remote Sensing Technology
  • Handheld or Ground-based Sensing
  • Satellite or Aerial Sensing
  • Variable-Rate Technology
  • Map-based VRT
  • Sensor-based VRT
Segmentation by Application
  • Yield Monitoring
  • Crop Scouting
  • Field Mapping
  • Variable Rate Application
  • Precision Irrigation
  • Precision Seeding
  • Precision Fertilization
    • Nitrogen VRA
    • Phosphorous VRA
    • Lime VRA
  • Pesticide VRA
  • Weather Tracking Forecasting
  • Inventory Management
  • Farm Labor Management
  • Financial Management
  • Others
Segmentation by Offering
  • Hardware
  • Automation and Control Systems
  • Displays
  • Guidance and Steering Systems
  • GPS/GNSS Devices
  • Drones/UAVs
  • Irrigation controllers
  • Handheld Mobile Devices/Handheld Computers
  • Flow Application Control Devices
  • Others
  • Sensing and Monitoring Devices
  • Yield Monitors
  • Soil Sensors
  • Moisture Sensors
  • Temperature Sensors
  • Nutrient Sensors
  • Water Sensors
  • Climate Sensors
  • Software
  • Local/Web Based
  • Cloud Based
  • Services
  • System Integration and Consulting Services
  • Managed Services
  • Connectivity Services
  • Assisted Professional Services
  • Maintenance and Support Services
Segmentation by Region:
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • North America
    • United States of America
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

The market research and consulting enterprise proffers business perception and market research reports for various industries, including small, medium enterprises as well as large companies. The research team of GMI organisation and industry experts carry out market intelligence studies to certify and ensure that all material and factual information passes to extensive range of sectors which include Technology, FMCG, Healthcare, and Energy. The expertise team accumulates all the required information about the industry applying internal as well as external databases. The prime concentration of our team is to acknowledge clients with all the prospective circumstances and difficulties faced by different industrial verticals. Also, our by fits and starts support through vital and consultative services assist clients grasp a directorial and legislative decision. The research organisation got spotlighted in the list of Silicon Magazine as one of the most foremost market

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