The global precision farming market is expected to reach USD 10.70
billion by 2025, according to a new report by Grand View Research, Inc.
Precision farming is an agriculture technique which enables the efficient
farming and improves the productivity with the application of various
technologies. The technology provides the sustainable management of the
resources for enhancing the food productivity.
Data management developments along with the advancements of geo-location
tracking helps the farming to detect and optimize yield operating efficiencies.
The technology advancements in the precision farming helps the farmers to get
the appropriate information about the planting and harvesting. The factors such
as enhanced and improved profitability and yield, cost and energy saving along
with the governmental assistance has further fuel the industry demand.
Geographic positioning system (GPS) is projected to contribute majorly in
the guidance systems technology segment from 2016 to 2024. The growth is
attributed to the ability to assist agriculture service providers and farmers
to automatically record the field data and apply the input to small areas
within the larger field.
Yield monitoring is considered to be the majorly used application segment in
the farming owing to ability to understand field variability and provide
assistance in maximizing the yields. The segment provides the information about
the soil properties, weather conditions, and fertilizers which further impact
the grain production in a positive manner. Furthermore, the services segment is
also projected to grow at a significantly over the forecast period.
Although, lack of awareness and high initial capital investments are
anticipated to hinder the indsutry growth over the projected period. increasing
government initiative for adopting the advanced agriculture technologies is
expected to overcome the awareness issue over the forecast period.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/precision-farming-market
Further key findings from the report suggest:
- Precision farming are gaining traction in the market, owing to the increasing awareness for enhanced production and less wastage
- Variable rate technology is anticipated to witness significant growth over the forecast period, owing to the increased adoption of technology across the industry
- The Asia Pacific region is projected to witness enormous growth with the increasing adoption of advanced technology in the countries, which include South Korea, China, and Japan
- The prominent players of the precision agriculture market are Dickey-John Corporation, Precision Planting, Inc., Raven Industries, SST Development Group, Inc.
Read our blog on precision farming market: http://www.grandviewresearch.com/blog/precision-agriculture-market-size-share-research
Grand View Research has segmented the precision farming market based on component, technology, application, and region:
Precision Farming Component Outlook (Transaction Revenue, USD Billion, 2014 - 2025)
·
Hardware
·
Software
·
Services
Precision Farming Technology Outlook (Transaction Revenue, USD
Billion, 2014 - 2025)
·
Variable Rate Technology (VRT)
·
Remote Sensing
·
Guidance Systems
Precision Farming Application Outlook (Transaction Revenue, USD
Billion, 2014 - 2025)
·
Yield Monitoring
·
Variable Rate Application
·
Field Mapping
·
Crop Scouting
·
Others
Precision Farming Regional Outlook (Transaction Revenue, USD
Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Germany
o
France
o
Spain
o
Italy
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
·
Latin America
o
Brazil
·
The Middle East and Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For More Information Visit - http://www.grandviewresearch.com/
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