Precision Agriculture Market Research Report
Global Precision Agriculture
Market
The Global Precision Agriculture market
is growing at a significant rate over the forecast period (2020-2027).
According to the GMI Research forecast, the market is growing due to the rising
need for optimum production with limited resources and the increasing food
requirement globally.
Precision agriculture, also known
as satellite farming, refers to a farming management concept that measures,
observes, and responds to inter and intra-filed variability in crops. One of
the major functions is to offer a decision support system for the management of
farm operations while optimizing returns on inputs and preserving resources.
Different types of precision agriculture solutions, such as weather tracking
and mobile forecasting applications, are helping the farmers to plan their
farming activities as per the changing environmental conditions.
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The primary factors contributing
to the growth of the global precision
agriculture market size include the rising need for optimum production
with the limited resources and the increasing food requirement globally. The
drastic shift in the climatic conditions due to the growing global warming is
encouraging the adoption of precision agricultural solutions to reduce the
possibilities of crop damage. Numerous manufacturers are aiming at
technological development, such as the launch of real-time farm monitoring
systems, weather forecasting systems, and other solutions that are attracting
many consumers to opt for these solutions. This technological advancement is
supporting the farmers to manage their resources and provides access to
real-time information through their smartphones, thus providing better mobility
and ease of operation to the farmers. On the other hand, the lack of awareness
among the farmers about the benefits related to precision agricultural
solutions will hinder the growth of the market during the forecast period.
Based on the technology, guidance
technology is projected to dominate the market during the forecast period due
to the initial adoption of this technology by growers or farmers at the global
level. Guidance Technology is further segmented into GPS/GNSS-Based Guidance
Technology and GIS-based Guidance Technology. The Global positioning system
(GPS) segment is projected to grow at a higher CAGR during the forecast period
due to the increased adoption of new technologies and advanced devices for
precision farming. With the increasing use of GPS technology, the farmers can
decrease the overlapping of equipment and tractor passing, which in turn, saves
labor cost, time, fuel, and soil compaction.
Key Players of the Global Precision
Agriculture Market:
·
Deere & Company
·
Bayer CropScience AG
·
Farmers Edge Inc.
·
AgSense LLC
·
Case IH Agriculture
·
Topcon Corporation
·
Monsanto Company
·
Raven Industries
·
Fairport Farm Software
·
Trimble Navigation Limited
Market Segmentation:
Global Precision Agriculture
Market Report Segment by Technology:
·
Guidance Technology
o
GPS/GNSS-Based Guidance Technology
o
GIS-based
Guidance Technology
·
Remote Sensing Technology
o
Handheld
or Ground-based Sensing
o
Satellite
or Aerial Sensing
·
Variable-Rate Technology
o
Map-based
VRT
o
Sensor-based VRT
Global Precision Agriculture Market Report Segment by Application:
·
Yield Monitoring
·
Crop Scouting
·
Field Mapping
·
Variable Rate Application
o
Precision
Irrigation
o
Precision
Seeding
o
Precision
Fertilization
§
Nitrogen
VRA
§
Phosphorous VRA
§
Lime VRA
o
Pesticide
VRA
·
Weather Tracking & Forecasting
·
Inventory Management
·
Farm Labor Management
·
Financial Management
·
Others
Global Precision Agriculture Market Report Segment by Offering:
·
Hardware
o
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
o
Yield
Monitors
o
Soil
Sensors
§
Moisture
Sensors
§
Temperature Sensors
§
Nutrient
Sensors
o
Water
Sensors
o
Climate
Sensors
·
Software
o
Local/Web
Based
o
Cloud
Based
·
Services
o
System
Integration and Consulting Services
o
Managed
Services
o
Connectivity Services
o
Assisted
Professional Services
o
Maintenance and Support Services
Global Precision Agriculture Market
Report Segment by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the LAMEA
region)
About GMI
Research
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