Precision agriculture Market is defined as the practices adopted to make farming accurate and precise. The techniques may include the use of artificial intelligence, a wide array of technologies such as sensors, drones, robotics, automated hardware, telematics, software, and autonomous vehicles. For instance, GPS is used to receive location data from satellites and control the farmer’s tractor based on coordinates of the field.
Precision Agriculture Industry Overview
The global Precision Agriculture Market is expected to reach $10.93 billion by 2026, with a CAGR of 14.8% during the forecast period 2021-2026. The growth rate in the market is because of the increased government initiatives around the world for precision agriculture services, as this leads to an increase in agricultural production to cater to the growing global food demand. Precision agriculture techniques are being adopted by farmers across the globe to increase crop yield, shrink wastage, and ensure food security. This has led to an increase in the growth of the global precision agriculture market.
Impact of COVID-19 on Precision Agriculture Market
The precision agriculture market experienced a dip in the year 2020 due to the COVID-19 pandemic due to restrictions in movement. Globally nations had lockdowns imposed because of which the supply chain also got disrupted, resulting in shortage of equipment and other inputs required for farming. This has brought the companies’ attention toward the use of remote sensing and other agriculture management tools, which can lead to a boost in the adoption of precision agriculture practices.
Market Segmentation
Precision Agriculture Market by Application
Precision irrigation is an innovative method to evaluate the crop’s water requirement and implementation of advanced systems to encourage the health of the crop and to reduce the nutrient, chemical, and water waste. It involves scheduling irrigation based on the data collected through sensors and drones. It also involves providing the right amount of water to the plants/crops at the right time and place without wasting the available land resources.
Precision Agriculture Market by Farm Produce
Field crops comprise the mainstream traditional farm produce that the agriculture industry majorly focuses on for its daily revenue generation. These crops are grown for large-scale consumption purposes. While the production of fruits and vegetables requires handpicking by manual labors and individualized care, field crops are generally processed in bulk.
Precision Agriculture Market by Technology
The guidance technology majorly comprises the global positioning system (GPS) and global navigation satellite system (GNSS) technologies which are applied in the agriculture industry for navigation purposes. The navigation is done via satellites which send signals to the receiver/user to provide them with accurate information about the location on the farm. Such equipment enables efficient crop monitoring. GPS/GNSS equipment and software service can be used for automated record keeping, vehicle navigation, and inter-vehicle communications, and other applications.
Precision Agriculture Market by Solution
Hardware systems of precision agriculture solutions are broadly classified into automation and control systems, sensing and navigation systems, and other equipment like smart sprayers and sprinklers. The hardware solution comprises different types of tools and devices, such as displays, GPS/GNSS devices, and handheld mobile devices.
Precision Agriculture Market by Region
North America has been one of the early adopters of the new technologies to meet the growing food demand across the globe. North America has most of the market leaders and contributors to the advanced precision agriculture industry, with the U.S. being the heartland of precision agriculture technologies. Over the last two decades, precision farming methods have been progressively adopted by the regional farmers to make their farm operations easy and to produce high-quality crops. The farmers of the region are being well-trained to make them open toward the adoption of technological innovations.
Key Market Players and Competition Synopsis
AGCO Corporation, CLAAS Group, CNH Industrial N.V., John Deere, Hexagon Agriculture, Kubota Corporation, TeeJet Technologies, The Toro Company, Topcon Corporation, Yanmar Co. Ltd., Microsoft Corporation, AGRIVI, BASF SE, Granular Inc., IBM Corporation
The companies that are profiled in the report have been selected based on the selective pool of players, primarily Tier-1 (which hold 50-60% of the market), mid-segment players (comprising 30-40% share), and small and emerging companies (holding the balance 10-20% share), based on various factors such as product portfolio, annual revenues, market penetration, research, and development initiatives, along with a domestic and international presence in the Precision Agriculture industry.
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How This Report Can Add Value
This report will help with the following objectives:
• This report covers major regions with established precision agriculture market.
• Government Initiatives and Regulatory Frameworks are provided for various regions.
• Market Share Analysis has been done for analyzing the competition in the precision agriculture market business.
• Extensive competitive benchmarking of the top 15 players (including OEMs and equipment providers) has been done to offer a holistic view of the global precision agriculture market landscape.
Product/Innovation Strategy: The product segment helps the reader in understanding the different types of precision agriculture technologies and services offered by key players operating in the market and their potential globally. Moreover, the study provides the reader a detailed understanding of the operation of different precision agriculture technologies (i.e., guidance technology, sensing technology, variable rate application technology, data analytics, and others).
Key Questions Answered in the Report :
• What is the expected global precision agriculture market size in terms of value during the period 2021-2026?
• What is the expected future scenario and revenue to be generated by different types of solutions including software and platform, hardware, and support services?
• What is the expected future scenario and revenue to be generated by the technology segment, including guidance technology, sensing technology, variable rate application technology, and data analytics and intelligence?
• What is the expected future scenario and revenue to be generated by different applications for precision agriculture solutions, including precision irrigation, field monitoring, precision spraying, precision fertilization, precision planting, and data management?
• Which region is the largest market for the global precision agriculture market?
• What is the expected future scenario and revenue to be generated by different regions and countries in the global precision agriculture market such as North America, South America, Europe, the U.K., China, Asia-Pacific and Japan, and Middle East and Africa?
• What is the competitive strength of the key players in the global precision agriculture market based on the analysis of their recent developments, product offerings, and regional presence?
• Which are the different consortiums and associations present in the global precision agriculture market, and what are their roles, focus areas, and key functions in this market?
• Where do the key precision agriculture companies lie in their competitive benchmarking, compared on the basis of market coverage and market potential?
• What does the technology ecosystem of precision agriculture solutions constitute?
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The Report published on UpMarketResearch.com about “Precision Agriculture Systems” is spread across 113 pages and provides newest industry data, market future trends, allowing you to identify the products and end users driving Revenue growth and profitability.
The industry report lists and studies the leading competitors, also provides the insights with strategic industry Analysis of the key factors influencing the marketprecision agriculture is a integrated information and production based farming system designed to enhance the long term, site specific and an entire farm production with augment efficiency, profitability and productivity thereby minimizing negative impacts on wildlife and environment.
It also refers to the farming system in modern era and leads in a difference between agriculture and agronomy.
Precision Agriculture Systems Industry research report provides granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.GetFREE Exclusive PDF Sample Copy Of This Report @: https://www.upmarketresearch.com/home/requested_sample/310The report begins with the overview of the Precision Agriculture Systems market and updates the users about the latest developments and future expectations.
It presents a comparative detailed analysis of all the regional and major player segments, offering readers a better knowledge of areas in which they can place their existing resources and gauging the priority of a particular region in order to boost their standing in the global market.Gain Full Access of Precision Agriculture Systems Market Report along with complete TOC@: https://www.upmarketresearch.com/reports/Global-Precision-Agriculture-Systems-Industry-Market-Analysis-Forecast-2018-2023In this report, there is a healthy amount of coverage of the market economies such as the demand and supply, cost and profit of the Precision Agriculture Systems Market.
This holds key importance for users and hence this information is well supported with due statistics that are represented in easy to consume graphs, charts, and tables.The report compiles exhaustive information obtained via proven research methodologies and from trusted sources within the industries.
