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Precision Farming Market Future Prospects, Business Development Strategies and Forecast 2027

Author: Sneha Patil
by Sneha Patil
Posted: Apr 15, 2021
precision farming

Market Research Future published a research report on "Precision Farming Market Research Report - Global Forecast till 2027" – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.

Market Outline

With the advancements in technology, farming techniques are also becoming smarter. Precision farming is empowered by the growing adoption of the Internet of Things (IoT), having features like remote monitoring, a global positioning system (GPS), and others. These powerful features have helped the farmers increase their production and make plans following current and historical data.

The growing population has gradually increased the demands for foods, which are to be obtained from limited cultivable lands. The precision farming technique helps in collecting real-time data and monitoring upcoming weather conditions, making it a useful tool for the farmers. Factors like unstable supplies of the raw materials and their fluctuating costs have restrained the market’s evolution. The market players are actively funding research & development programs to explore the new sides of this market and eradicating any negatives holding back this market.

This has imposed extra load on the market players but will help them in reaching stronger positions and generating higher revenues. For getting the better outline of the market structure, the report on the global Precision Farming Market covers crucial aspects like oppositions, drivers & restraints, growth opportunities, and others. As far as the study suggests, the global precision farming market will show a 13 % yearly growth.

Top Industry Players

The outstanding players identified in the market of precision farming are listed as Deere & Company (U.S.), AGCO Corporation (U.S.), AgEagle Aerial Systems (U.S.), AG Leader Technology (U.S.), AgGateway (U.S.), Aglytix Inc. (U.S.), AgJunction Inc. (U.S.), Precision Planting (U.S.), Dickey-john Corporation (U.S.) and Agribotix (U.S.).

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Market Division

The global precision farming market is an immense field and is divided as follows:

The global precision farming market is characterized as hardware, software, and services in view of offerings.

In view of technology, the global precision farming market is characterized as remote sensing, telematics, geographic information system (GIS), and others.

The global precision farming market is characterized by irrigation management, weather tracking, and others, in view of applications.

Regional Classification

Demands for precision farming are at a high rise because of factors like rapidly increasing global populations and rapidly advancing technological environments. The North American, European, Asia Pacific, and The Rest of the world are the precision farming markets evaluated to reveal the worldwide market structure. As per the study and market stances, the global market is impelled by the North American region under the influence of factors like high adoption & demands of revolutionary technologies, presence of supreme market players, high grant values for research & development programs, and others. Whereas, the Asia Pacific region will register the highest growth in this tenure because of factors like rapidly growing demands for next-gen technologies, vast population, demands for better food, rapid urbanization, rise in disposable incomes, growing government initiatives, and other factors.

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Market Research Future® (Part of WantStats Research And Media Pvt. Ltd.) has the distinguished objective of providing the optimal quality research and granular research to clients.

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Author: Sneha Patil

Sneha Patil

Member since: Mar 23, 2020
Published articles: 107

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