Precision Farming Market Size, Shares, Strategies, Analysis and Overview by 2025
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>Precision</strong> <strong>Farming</strong> <strong>Market</strong> <strong>Size</strong>, <strong>Shares</strong>, <strong>Strategies</strong>, <strong>Analysis</strong> <strong>and</strong><br />
<strong>Overview</strong> <strong>by</strong> <strong>2025</strong><br />
“Growing dem<strong>and</strong> for telematics services from farm equipment<br />
manufactures in order to enhance overall efficiency of the<br />
products are expected to fuel the growth of precision farming<br />
industry. Enhanced efficiency <strong>and</strong> superior performance of farm<br />
equipment allows reduction in the cost of agricultural<br />
operations.”<br />
The global <strong>Precision</strong> <strong>Farming</strong> <strong>Market</strong> size is expected to value at USD 10.23 billion <strong>by</strong> <strong>2025</strong>. The market is subject<br />
to witness a substantial growth due to the increasing application of telematics in agriculture <strong>and</strong> growing<br />
adoption of the modern technologies in agriculture sector. Telematics services consist of tracking devices that<br />
implement global Navigation Satellite System (GNSS) to display the location of equipment for management<br />
purposes.<br />
<strong>Precision</strong> farming systems also provides a real-time view of the location, temperature variation, ground speed,<br />
<strong>and</strong> the duration prior to maintenance is required. Globally, the precision farming market is predicted to grow<br />
at CAGR of 14.2% in forecast period, providing numerous opportunities for market players to invest in research<br />
<strong>and</strong> development in the market.<br />
Growing dem<strong>and</strong> for telematics services from farm equipment manufactures in order to enhance overall<br />
efficiency of the products are expected to fuel the growth of precision farming industry. Enhanced efficiency<br />
<strong>and</strong> superior performance of farm equipment allows reduction in the cost of agricultural operations, there<strong>by</strong><br />
maximizing profit <strong>and</strong> generate excess of revenues. Such factors are substantially affecting growth of the<br />
market, in the recent years. Furthermore, an effective administrative framework helps to reduce any negative<br />
environmental impact.<br />
Get a Sample Copy of This Report @<br />
https://www.millioninsights.com/industry-reports/precision-farming-market-size/request-sample
Increasing adoption of the telematics technology in developed economies in order to increase overall agriculture<br />
yield in predicted to augment market growth over the forecast period. Telematics services allows farmers to<br />
gather <strong>and</strong> manage important data with the help of field equipment. Telematics technology majorly utilizes farm<br />
equipment such as sensors that are installed on tractors, <strong>and</strong> other field monitoring equipment to gather critical<br />
data, <strong>and</strong> necessary actions.<br />
Recent technological advancement in the agriculture sector coupled with development of innovative products<br />
to increase overall agricultural yield are expected to propel market growth in the near future. With increasing<br />
adoption of modern technology coupled with future advancements in agriculture sector, precision farming<br />
industry is subject to high-end growth in developed economies <strong>and</strong> commercialized areas. Regular monitoring<br />
<strong>by</strong> government authorities <strong>and</strong> introducing set of guidelines &validations in regards to the environmental wellbeing<br />
acts as a driving factor for market growth, in the recent years. Additionally, increasing import <strong>and</strong> export<br />
of agriculture goods is leading to commercialization of agriculture sector.<br />
Browse Full Research Report @<br />
https://www.millioninsights.com/industry-reports/precision-farming-market-size<br />
The hardware segment is considered as one of the fastest growing segment in the precision agriculture market<br />
with substantial revenue generation in the last couple of years. The hardware segment is further categorized<br />
into automation & control, sensing components, <strong>and</strong> antennas & access networks. The automation & control<br />
systems is majorly consists of electronic measurement devices such as drones, application monitoring<br />
equipment, route-guidance equipment, remote-location sensing devices, motionless tractors, h<strong>and</strong>held<br />
electronic devices, Variable Rate Technology (VRT), <strong>and</strong> wireless modules.<br />
<strong>Precision</strong> farming system is also termed as a satellite farming or a site-specific crop management<br />
(SSCM),involves an agricultural management technique that consists of activities such as observation,<br />
measurement <strong>and</strong> response to inter <strong>and</strong> intra-field variations in the harvests. <strong>Precision</strong> farming offers a decision<br />
support system (DSS) for agriculture management in order to optimize returns on inputs while preserving<br />
resources.<br />
The precision farming industry is divided <strong>by</strong> region as North America, Europe, Asia-Pacific, Latin America <strong>and</strong><br />
Africa. North America has shown major growth in recent years owing to the rise in the adoption of modern<br />
agriculture technologies, an effective administrative framework, large number of governmental initiative to<br />
boost agriculture production, <strong>and</strong> existence of prominent industry players in the region. Asia-Pacific region is<br />
predicted to hold major market share in the precision farming market with massive growth in forecast period.<br />
Countries such as India, China <strong>and</strong> Singapore are leading the Asia-Pacific market with increasing number of<br />
schemes <strong>and</strong> programs to create awareness among farmers, growing infrastructural activities, <strong>and</strong> significant<br />
investment <strong>by</strong> leading industry players considering potential growth opportunities in the region. The key players<br />
in the precision farming industry are Ag Leader Technology, Inc., AgJunction Incorporations, CropMetrics LLC,<br />
Trimble Incorporations, AGCO Co., <strong>and</strong> Raven Industries Incorporations.
<strong>Market</strong> Segment:<br />
<strong>Precision</strong> <strong>Farming</strong>/Agriculture Offering Outlook (Revenue, USD Million, 2014 - <strong>2025</strong>)<br />
• Hardware<br />
• Automation & control systems<br />
• Drones<br />
• Application control devices<br />
• Guidance systems<br />
• GPS<br />
• GIS<br />
• Remote sensing<br />
• H<strong>and</strong>held<br />
• Satellite sensing<br />
• Driverless tractors<br />
• Mobile devices<br />
• VRT<br />
• Map-based<br />
• Sensor-based<br />
• Wireless modules<br />
• Bluetooth technology<br />
• Wi-Fi technology<br />
• Zigbee technology<br />
• RF technology
• Sensing devices<br />
• Soil sensor<br />
• Nutrient sensor<br />
• Moisture sensor<br />
• Temperature sensor<br />
• Water sensors<br />
• Climate sensors<br />
• Others<br />
• Antennas/access points<br />
• Software<br />
• Web-based<br />
• Cloud-based<br />
• Services<br />
• System integration & consulting<br />
• Maintenance & support<br />
• Managed services<br />
• Data services<br />
• Analytic services<br />
• Farm operation services<br />
• Assisted professional services<br />
• Supply chain management services<br />
• Climate information services
<strong>Precision</strong> <strong>Farming</strong>/Agriculture Application Outlook (Revenue, USD Million, 2014 - <strong>2025</strong>)<br />
• Yield monitoring<br />
• On-farm<br />
• Off-farm<br />
• Field mapping<br />
• Crop scouting<br />
• Weather tracking & forecasting<br />
• Irrigation management<br />
• Inventory management<br />
• Farm labor management<br />
<strong>Precision</strong> <strong>Farming</strong>/Agriculture Regional Outlook (Revenue, USD Million, 2014 - <strong>2025</strong>)<br />
• North America<br />
• U.S.<br />
• Canada<br />
• Mexico<br />
• Europe<br />
• Germany<br />
• UK<br />
• France<br />
• Russia<br />
• Asia Pacific<br />
• China<br />
• Japan
• India<br />
• Australia<br />
• South America<br />
• Brazil<br />
• Middle East <strong>and</strong> Africa (MEA)<br />
See More Reports of this Category <strong>by</strong> Million Insights @<br />
https://www.millioninsights.com/industry/technology<br />
Get in touch<br />
At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our<br />
representatives strive to underst<strong>and</strong> diverse client requirements <strong>and</strong> cater to the same with the<br />
most innovative <strong>and</strong> functional solutions.<br />
Contact Person:<br />
Ryan Manuel<br />
Research Support Specialist, USA<br />
Email: ryan@millioninsights.com<br />
Global Headquarters<br />
Million Insights<br />
Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States<br />
Phone: 1-408-610-2300<br />
Email: sales@millioninsights.com<br />
Asia Pacific<br />
Million Insights<br />
Office No. 302, 3rd Floor, Manikch<strong>and</strong> Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016<br />
India<br />
Phone: 91-20-65300184
Change language