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.
Browse full research report on Precision
Farming/Agriculture Market: 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: 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
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Asia
Pacific
- China
- India
- Japan
- South
Korea
- Latin
America
- 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, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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