Advanced Farming Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018–
Posted: May 16, 2019
Advanced farming market caters to agriculture-based activities through utilization of connected and advanced information technologies for the analysis, monitoring, identifying and controlling the field operations to maximize the yield and ensure profitability. Moreover, optimum utilization of the available resources that include light, water, space, energy and costs associated with the maintenance form the primary factors that are expected to drive overall demand.
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Growing global population and the increasing requirement to suffice the basic needs that include food, and clothing will drive the demands
According to Population Reference Bureau, global population in 2016 was over 7.4 billion, which is expected to cross 8.5 billion by1 2030. In addition to this, the urbanization of the economically developed and developing regions is expected to witness significant growth over the forecast timeframe, necessitating increased demands for the agricultural produce. Moreover, limited land, water, and other resources for these activities is expected to instantiate demands for increased outputs in the available resources. This will in turn drive the growth of advanced farming market, specifically in the regions with unfavorable natural climate and densely populated that include the U.S., Western Europe, China, India, and few other economies.
Proliferating incorporation of advanced sensors and precision software and hardware technologies will present strong consumer inclination for increased agricultural produce
Agricultural drones for monitoring field conditions by AgEagle; advanced analytics for agronomic analysis by Aglytix; multi-sensor Vector Probe by probe AquaSpy, Virtual Optimizer (VO) water management tool that monitors soil moisture and provides virtual agronomist services by CropMetric; and API connectivity between fleet of green and yellow earth movers by John Deere are few of the major advancements in the advanced farming market. Moreover, many other major developments to enhance agricultural produce are taking place on daily basis, is expected to garner significant growth opportunity over the forecast period.
Global Key Players:
Chief industry participants in the advanced farming market include Trimble Navigation, AGCO Corp., John Deere & Company, Raven Industries, and AgJunction Inc. Industry is characterized by moderately fragmented market share with large number of regional players dominating the regional share. Moreover, over the last few years, industry has witnessed increased emergence of startups to capitalize on the existing opportunities. For instance, The Climate Corp, Solum, Soil IQ, and SmartGardener are among the few of the players that have gained significant interests of the industry participants.
Advanced Farming Market Taxonomy
On the basis of technology, the global advanced farming market is classified into:
Variable-rate Technology (VRT)
High precision positioning systems
Automated steering systems
Integrated electronic communication
On the basis of deployment mode, the global advanced farming market is classified into:
On the basis of services, the global advanced farming market is classified into:
Consulting & Training
On the basis of applications, the global advanced farming market is classified into:
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About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various reco