Global Precision Farming Market
Posted: Feb 28, 2019
Global Precision Farming Market is expected to reach USD 9,975.10 Million by 2024 from USD 5,267.20 Million in 2017 at a CAGR of 10.2% (Detailed analysis of the market CAGR is provided in the report).
Precision Farming is also known as site-specific crop management (SSCM) and satellite farming. This is an advanced farming technique that utilizes several technologies such as GPS, GIS, and remote sensing to collect crucial field related information, which is further analyzed to support grower's decisions with regard to crop fertilizing, planting and harvesting.
Global Precision Farming Market is majorly segmented by technology, offering, and application. By technology, the market is segmented as Guidance System, Remote Sensing, and Variable-Rate Technology. Under this, guidance technology is expected to hold highest market share in the forecast period due to the increasing adoption of GPS-based guidance technology by farmers and growers around the globe is the major factor propelling the demand for this technology. The market is segmented by offerings, which includes Hardware, Software, and Services. The Precision Farming are also segmented by applications, which include Yield Monitoring, Crop Scouting, Field Mapping, Irrigation Management, Weather Tracking & Forecasting, Inventory Management, Farm Labour Management, Financial Management, and Others.
Geographically, the Precision Farming Market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is expected to be largest market for Precision Farming market during the forecast period due to farmers or growers in this region are increasingly adopting advanced farming systems and equipment such as steering and guidance systems, sensors, display devices, and farm management software.
The years that have been considered for the study are:
- Base year – 2017
- Estimated year – 2018
- Forecast period – 2018 to 2024
- Global Precision Farming Market analysis and forecast, in terms of value.
- Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the global Precision Farming Market.
- Global Precision Farming Market segmentation is on the basis of technology, offering, application and geography (country-wise) has been provided.
- Global Precision Farming Market strategic analysis with respect to individual growth trends, future prospects along with contribution of various sub-market stakeholders have been considered under the scope of study.
- Global Precision Farming Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
- Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
- Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the global Precision Farming Market are also profiled.
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get the unbiased idea of the market. This exercise was done at the country level to get the fair idea of the market in countries considered for this study. Later this country-specific data was accumulated to come up with regional numbers and then arrive at the global market value for Global Precision Farming Market.
Global Precision Farming Marketplace is growing with the presence of major companies holding a large market share.
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Key Players of the Global Precision Farming Market:
- Deere & Company
- AGCO Corporation
- Ag Junction
- Raven Industries
- AG Leader
- Precision Planting
- The Climate Corporation
- Descartes Labs
- AG Leader Technology
- SST Development Group
- Teejet Technologies
- Topcon Positioning Systems
- Dickey-John Corporation
- Hexagon Agriculture
- Prospera Technologies
- Autocopter Corp.
Key Target Audience:
- Precision Farming material manufacturers
- Raw material suppliers
- Precision Farming traders and distributors
- Research & development institutions
- Industry Associations
The Scope of the Global Precision Farming Market:
The research report segments the global Precision Farming Market based on technology, offering, application, and geography
Global Precision Farming Market, By Offering:
Global Precision Farming Market, By Technology:
- Guidance System
- Remote Sensing
- Variable-Rate Technology
Global Precision Farming Market, By Applications:
- Yield Monitoring
- Crop Scouting
- Field Mapping
- Irrigation Management
- Weather Tracking & Forecasting
- Inventory Management
- Farm Labour Management
- Financial Management
Global Precision Farming Market, By Geography:
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
- Breakdown of North America Global Precision Farming Market
- Breakdown of Europe Global Precision Farming Market
- Breakdown of Asia Pacific Global Precision Farming Market
- Breakdown of Middle East & Africa Global Precision Farming Market
- Breakdown of Latin America Global Precision Farming Market
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