Precision Farming Market Research, Recent Trends and Growth Forecast 2025
By Market Study Report  Date: 2020-04-30Product ID: 1694967

Precision Farming Market Research, Recent Trends and Growth Forecast 2025

A Research study on Precision Farming Market analyzes and offers ideas of exhaustive research on ancient and recent Precision Farming market size. Also Precision Farming Market is Segmented By Hardware (Automation & Control System, Sensing Devices, Access Points); By Deployment (Web-based/Local, Cloud Based); By Service (System Integration, Managed Services, Maintenance & Support, Consulting); By Application (Irrigation Management, Crop Scouting, Yield Monitoring, Weather Tracking and Forecasting, Field Mapping, Inventory Management, and Farm Labor Management). Along with the estimated future possibilities of the market and emerging trends in the Precision Farming market.

The global Precision Agriculture market is anticipated to reach over USD 13,016 million by 2026, According to a new study. In 2017, the yield monitoring application dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

North America generated the highest revenue in the precision agriculture market in 2017, and is expected to lead the global market throughout the forecast period. This is due to high cost of labor, and presence of large farmlands in the North American region. Increasing investments and subsidies in the agriculture sector by governments boost the precision farming market growth during the forecast period in the region. Increasing need to improve food quality and productivity along with increased industrialization of farming equipment further supplements market growth.

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The well-known companies profiled in the report include Ag Leader Technology, AGCO Corporation, Deere and Company, Topcon Corporation, Trimble, Inc., The Climate Corporation, Farmers Edge Inc., and AgJunction, Inc. among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Various applications of precision farming include irrigation management, crop scouting, yield monitoring, weather tracking and forecasting, field mapping, inventory management, and farm labor management. In 2017, yield monitoring accounted for the largest share in the global market, and was estimated at $1,974 million in 2017, registering a CAGR of 13.2% during the forecast period. This is attributable to the benefits offered by yield monitoring such as reduced cost, improved yields, and enhanced decision making. Yield monitoring is further divided into on-farm yield monitoring, and off-farm yield monitoring.

There has been an increasing adoption of precision farming across the world owing to growing agricultural industry, and high-demand for food crops. The global precision farming market is driven by the increasing need to improve the quality of crops produced, maximizing crop production, and enhanced crop monitoring. Technological advancement along with government subsidies further boosts the market growth. However, high initial investment and lack of awareness limit the precision farming market growth.

A Pin-point overview of TOC of Precision Farming Market are:

Overview and Scope of Precision Farming Market

  • Research goal & scope
  • Research assumptions
  • Research Methodology
  • Key take-away
  • Stakeholders
  • Market Segmentation

Precision Farming Market Insights

  • Industry snapshot
  • Regulatory Framework
  • Precision Farming Market Dynamics
  • Precision Farming Market Forces
  • Precision Farming Market Driver Analysis
  • Precision Farming Market Restraint/Challenges analysis
  • Precision Farming Market Opportunity Analysis
  • Factors Influencing Development of Precision Farming Market
  • Driving Forces and Market Opportunities
  • Threats and Challenges in Precision Farming industry
  • Forecast on Precision Farming Market Size
  • Forecast on Precision Farming Market Trend

Industry analysis - Porter's Five Force

  • Precision Farming Market PEST Analysis
  • Precision Farming Market Value Chain Analysis
  • Precision Farming Industry Trends
  • Company Market Share Analysis

Company Profiles

  • Overview
  • Product Benchmarking
  • Recent Developments and Technological Advancement

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