Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Precision Farming Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
According to Verified Market Research, the Global Precision Farming Market was valued at USD 4.98 Billion in 2018 and is projected to reach USD 12.97 Billion by 2026, growing at a CAGR of 12.71% from 2019 to 2026.
Precision farming is also known as site-specific crop management. t is an innovative way to farm management which uses specialized equipment, solutions, and allied services to produce more crops at a reasonable cost and gives farmers the ability to use crop input such as pesticides, tillage and irrigation water and fertilizers, for improving the productivity, quality, profitability of the crops. Precision farming uses GPS, geographical information system, and remote sensing for effective output of crops.
Increasing adoption of automation & control devices and sensing & monitoring devices is the major factor contributing towards the growth of the precision farming market. Due to reducing cost of major hardware components, the cost of precision farming technology will reduce in the upcoming years. In addition to the above factors, increasing demand for quality food and rising population are the major factors propelling the market growth during the forecast period.
However, low adoption of technology among farmers, absence of standardization and limitation on the exchange of data is likely to hamper the market growth over the forecast period. Moreover, lack of farmers independent consulting and advisory services due to the absence of validated agronomic models for Variable Rate Technology (VRT) to make decisions on investments are the major factors hampering the growth of the precision farming market.
Key Players are as follows:
Deere & Company, Trimble, Agco, Agjunction, Raven Industries, AG Leader Technology, SST Development Group, Teejet Technologies, Topcon Positioning Systems, and Dickey-John Corporation.
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Key players of the global Precision Farming market are profiled on the basis of various factors, which include recent developments, business strategies, financial strength, weaknesses, and main business. The Precision Farming report offers a special assessment of top strategic moves of leading players such as merger and acquisition, collaboration, new product launch, and partnership.
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Regional Segments Analysis:
The Middle East and Africa (GCC Countries and Egypt.)
North America (the United States, Mexico, and Canada.)
South America (Brazil etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia.)
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Highlights of TOC:
Market Overview: It starts with product overview and scope of the global Precision Farming market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Precision Farming market size analysis for the review period.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price; Precision Farming market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Precision Farming market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Precision Farming report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
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