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The precision agriculture market revenue is estimated to surpass a valuation of USD 12 billion by 2025. The market growth is attributed to the rising adoption of smart agricultural practices to increase productivity. The use of Big Data along with information & communication technologies will provide farmers with more accurate insights into the existing crop conditions.Another factor contributing to the precision agriculture market growth is the popularity of drones and IoT for greater production capabilities and analytics. The IoT plays a substantial role in increasing productivity and providing insights about the recent trends of crops. The technology provides an interconnected & multidimensional view of farming activities and offers actionable insights about the environment. The government agencies worldwide are making efforts to spur innovations in the agriculture sector.
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In the component market, the hardware segment is expected to hold a major precision agriculture market share of over 70% in 2025 due to the rising usage of several hardware devices such as drones, sensors, GPS systems, and smartphones for capturing aerial data. In precision agriculture, these devices enable farmers and researchers to monitor and optimize their crops and assist in conserving resources such as soil and water in a better manner.
In the precision agriculture services market, the managed services segment is expected to exhibit a growth rate of over 27% from 2019 to 2025. The market growth is attributed to the rising applications of IoT and cloud computing in precision agriculture solutions. The agriculture decision support systems are being increasingly hosted on cloud platforms to take advantage of the IoT through internet-connected devices. For enabling improved security and availability, the demand for managed services must increase to efficiently handle the complexity of running hardware and maintaining different types of middleware.
Geomapping technologies are expected to hold a share of over 20% of the precision agriculture market in 2025. The technology proves to be immensely beneficial in agriculture as it offers a cost-effective alternative for localized & wide-scale monitoring of the crop output. With the evolution of the technology, 3D geomapping techniques have emerged in the market that are particularly useful for the timely detection of existing inefficiencies in the fields, allowing farmers to take immediate corrective measures.
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The irrigation management application segment is projected to grow at a CAGR of over 15% between 2019 and 2025. Using precision agriculture technologies, the site-specific management of irrigation activities can significantly improve the overall water management. Farmers can monitor and control their irrigation pivots from any location using precision irrigation solutions. These solutions enable accurate and uniform water delivery to crops throughout their lifecycle.
The Asia Pacific precision agriculture market will witness a growth rate of over 20% during the forecast period. The factors augmenting the market growth are increasing the awareness about the precision agriculture technologies and several initiatives taken by the government to improve sustainable agriculture.
Browse key industry insights spread across 375 pages with 400 market data tables & 31 figures & charts from the report, “Precision Agriculture Market Size By Component (Hardware [Automated Steering System, Drones, UAVs & Camera, Mobile Device, Global Positioning System (GPS) & Global Navigation Satellite System (GNSS)], Software, Services [Consulting & Training, Maintenance & Updates, Managed Services, Integration]), By Technology (High Precision Positioning System, Geomapping, Remote Sensing, Integrated Electronic Communication, Variable Rate Technology (VRT)), By Application (Weather Monitoring, Yield Monitoring, Field Monitoring, Irrigation Management, Waste Management, Financial Management), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Netherlands, Turkey, Poland, Russia, Australia & New Zealand (ANZ), China, India, Japan, South Korea, South East Asia, Brazil, Mexico, Argentina, Colombia, Peru, South Africa, Saudi Arabia, Egypt), Growth Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/precision-farming-market
Table of Contents (ToC) of the report:
Chapter 4 Precision Agriculture Market - Competitive Landscape
4.1 Introduction
4.2 Company analysis of hardware providers, 2018
4.2.1 AGCO Corporation
4.2.2 Deere & Company
4.2.3 Trimble Navigation Limited
4.2.4 Raven Applied Technology
4.2.5 Topcon Positioning Group (Topcon Corp.)
4.3 Competitive analysis of software providers, 2018
4.3.1 Agsmart Pty Ltd.
4.3.2 Ag Leader Technology
4.3.3 AgJunction
4.3.4 AgSense, LLC (Valmont Industries, Inc)
4.3.5 Agribotix LLC
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/precision-farming-market
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