The global precision agriculture market is expected to generate revenue of $8.3 billion by 2022, growing at a CAGR of 14.9% from 2016 to 2022. Precision agriculture is a farming technique associated with application of different technologies and solutions to enable efficient farming and improve crop yield. It presents significant potential in enhancing food productivity while at the same time providing sustainable management of resources.
In general, the Precision Agriculture Systems and Services industry produces a wide range of products that assist in a specific precision agriculture technique. Many of these products are combined to ease the farming process, with the aim to increase and maintain the yield per area of a field. North America is the leading geographic market followed by Europe in precision farming. US is the largest revenue generating market followed by Germany and Canada. Vast economic development and burgeoning population in Asia Pacific are the key factors responsible for market growth of precision farming in this region.
Demand for yield and profitability, government interventions and energy & cost efficiency are the driving factor for the growth of global precision farming market. Lack of technological knowledge and awareness, shortage in proper storage facilities, low standards in exchange of data between systems, and huge initial investments are the major constraint in the development of precision farming in global market.
Key players in the precision agriculture market are
Deere & Company, Trimble Navigation Limited, AGCO Corporation, and Monsanto Company among others.
Product launch,acquisition, and partnership are observed to be the prominent strategies adopted by the leading market players to strengthen their market position, enhance their product portfolio, and expand their geographical presence. For instance, in 2016, Deere & Company launched mobile real- time kinematics (RTK), a latest innovation in machine guidance and telematics that monitors field and crop requirements effectively.
Other prominent vendors
Site-Specific Technology Development Group
Key market driver:
Growing awareness and acceptance
Key market challenge
High initial investment
Key market trend:
Shift toward sustainable agriculture
Key questions answered in this report:
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
1. INTRODUCTION TO THE PRECISION FARMING MARKET
2. EXECUTIVE SUMMARY
3. MARKET ANALYSIS OF PRECISION FARMING
4. PRECISION FARMING MARKET ANALYSIS BY TECHNOLOGY
GPS (Global Positioning Systems)
GIS (Global Information Systems)
Satellite Based Sensing
Variable Rate Technologies (VRT)
Variable Rate Fertilizer
Variable Rate Pesticide
Variable Rate Seeding
5. PRECISION FARMING MARKET ANALYSIS BY COMPONENTS
Automation & Control Systems
Sensing & Monitoring Devices
Farm Management Systems (FMS)
6. PRECISION FARMING MARKET ANALYSIS BY APPLICATIONS
Variable Rate Application (VRA)
7. PRECISION FARMING MARKET ANALYSIS BY REGION
Middle East and Africa
8. COMPETITIVE LANDSCAPE OF PRECISION FARMING COMPANIES
9. COMPANY PROFILES OF PRECISION FARMING INDUSTRY
Ag Leader Technology
John Deere & Company
Micro Trak Systems
Precision Planting Inc.
Raven Industries Inc.
Trimble Navigation System
Topcon Precision Agriculture