Precision Farming Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Global Precision Farming Market: By Offerings (By Hardware (Automation & Control Devices, Sensing Devices, and Antennas/Access Points)), (By Software (Cloud-Based and Web-Based)), (By Services (System Integration & Consulting, Maintenance Support, Managed Services, Assisted Professional Services)), By Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking & Forecasting, Irrigation Management, Inventory Management, Farm Labour Management), and Geography

 

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Description

Precision Farming Market

 

Global Precision Farming Market:

The global precision farming market estimated to be valued US$ XX Mn in 2019 and projected to grow at significant CAGR over 2020-2026 owing to rising pressure on global food supply due to increase in growing global population and substantial cost cutting made possible by the precision farming coupled with the government support and initiatives for the adoption of modern agricultural technologies are the major factors driving the growth of the market. Moreover, increasing awareness concerning environmental impact is playing major role in the growth of the precision farming market. However, high initial investments in R&D and lack of technical knowledge among the farmers hinders the growth of the market.

 

Yield Monitoring Application Segment is expected to grow at Highest CAGR over the Forecast Years

Based on Application, yield monitoring segment is expected to grow at highest CAGR over the forecast years owing to its important role in understanding the field variability and help growers maximize their production. This application provides farmers information regarding the soil properties, weather conditions, and fertilizers. Soil monitoring by Yield monitoring application plays a vital role to detect the soil parameters that are needed for the efficient yield production.

 

Americas Accounts the Larger Market Revenue Share in Global Precision Farming Market

Americas accounted for larger revenue share in global precision farming market with significant CAGR owing to rising adoption of the precision farming technologies for boosting agricultural production. Moreover, investments by the government of Canada in Clean Seed Capital Group to enhance and commercialize the precision farming technology and to reduce the excess usage of fertilizers and pesticides. Europe and Asia Pacific markets are expected to show significant growth over the forecast periods.

 

Competition Assessment

Key player’s profiles in the global precision farming market include:

  • Ag Leader Technology (U.S.)
  • AgJunction, Inc. (U.S.)
  • CropMetrics LLC (U.S.)
  • Trimble, Inc. (U.S.)
  • AGCO Corporation (U.S.)
  • Raven Industries, Inc. (U.S.)
  • Deere & Company (U.S.)
  • Precision Planting (U.S.)
  • Decisive Farming (Canada)
  • Gamaya (Switzerland)

 

Global precision farming market is surging owing to acquisitions and definitive agreements to strengthen their position in the market. For instance, in October 2017 – AGCO entered into an agreement with Lely group, to acquire its forage division. Lely’s industry leading competence in hay and forage technology is poised to strengthen AGCO’s full-line product offerings.

Key Findings of the Report:

 

Global market expanding at significant CAGR over 2019 to 2025 owing to severe pressure to meet the growing demand for food.

  • Based on Application type, Yield monitoring segment of precision farming accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
  • Players focusing on launch of newer products and collaboration strategies to retain market position in global precision farming market

 

Global Precision Farming Market Report Description:

Global precision farming market report gives comprehensive outlook on precision farming across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global precision farming market gives historical, current, and future market sizes (US$ Mn) on the basis of product and services, application, sector, and region. This report studies global precision farming market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global precision farming market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global precision farming market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global precision farming market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global precision farming products

 

Detailed Segmentation

 

By Offering

  • Hardware
    • Automation & Control Systems
      • Drones
      • Application Control Devices
      • Guidance System
        • GPS
        • GIS
      • Remote Sensing
        • Handheld
        • Satellite Sensing
      • Driverless Tractors
      • Mobile Devices
      • VRT
        • Map-Based
        • Sensor-Based
      • Wireless Modules
        • Bluetooth Technology
        • Wi-Fi Technology
        • ZigBee Technology
        • RF Technology
      • Sensing Devices
        • Soil Sensor
          • Nutrient Sensor
          • Moisture Sensor
          • Temperature Sensor
        • Water Sensors
        • Climate Sensors
        • Others
      • Antennas/Access Points
    • Software
      • Web-Based
      • Cloud-Based
    • Services
      • System Integration and Consulting
      • Maintenance and Support
      • Managed Services
        • Data Services
        • Analytics Services
        • Farm Operation Services
      • Assisted Professional Services
        • Supply Chain Management Services
        • Climate Information Services

By Application

  • Yield Monitoring
    • On-Farm
    • Off-Farm
  • Field Mapping
  • Crop Scouting
  • Weather Tracking & Forecasting
  • Irrigation Management
  • Inventory Management
  • Farm Labor Management

 

 Geography

 

  • North America
  • US
  • Canada

Europe

  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
  • Poland
  • Rest of Europe

Asia-Pacific

  • Japan
  • China
  • India
  • Australia & New Zealand
  • ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Venezuela
  • Rest of Latin America

Middle East and Africa (MEA)

  • Gulf Cooperation Council (GCC) Countries
  • Israel
  • South Africa
  • Rest of MEA

 

Key Features of the Report:

 

  • The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market


Location

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