Precision Farming Market Industry, Global Analysis and Forecast
The global precision farming market is expected to grow at a CAGR of 17.4% from 2017 to 2025.
This technique analyzes the weather patterns, temperature, humidity level, soil nutrition, and growth of the crop. In addition, it aids farmers in decision-making and monitors exact water, fertilizer, and pesticide levels to create a suitable environment for crops.
Precision farming is a site-specific crop management (SSCM) technique implemented by farmers in their fields to improve crop yield and quality. It utilizes advanced technologies, such as GPS, GIS, telematics, and remote sensing, to obtain real-time updates related to crops.
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Based on technology, the global precision agriculture market is segmented as GIS, telematics, VRT, GPS, and remote sensing. Based on component, the market is segmented as hardware and software. On the basis of hardware, the market is divided as sensors, drones, automated Steering System (ASS), radar, GPS, and others. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.
Market Dynamics:
Drivers:
- Growth in adoption of smartphones.
- Aggrandized use of cloud technology.
- Booming population.
- Technological advancements.
Restraints:
- Lack of awareness.
- High investment required.
Market Players:
The top players in the global precision farming market include Deere & Company, CropMetrics, Trimble Navigation Limited, CropX, AgSmarts Inc., AgSense LLC, AGCO Corporation, Agleader, DICKEY-john Corporation, and Monsanto Company.
Key point from Table of Content
7. Company profiles
7.1. Deere & Company
7.1.1. Overview
7.1.2. Financials and business segments
7.1.3. Recent developments
7.2. CropMetrics
7.2.1. Overview
7.2.2. Financials and business segments
7.2.3. Recent developments
7.3. Trimble Navigation Limited
7.3.1. Overview
7.3.2. Financials and business segments
7.3.3. Recent developments
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By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Russia
- Rest of Europe
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