Precision Farming Market Size, Shares, Strategies, Analysis and Overview by 2025
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<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