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Precision Farming Market by Technology (Guidance System, Remote Sensing, Variable Rate Technology), Offering (Hardware Automation & Control System, Sensor & Monitoring Device, Software, Services), Application, and Geography - Global Forecast to 2022

Precision Farming Market: Global Forecast until 2022

  • January 2017
  • 216 pages
  • ID: 4612801
In this report:
The South America comprises countries such as Brazil and Argentina; considering the large scale of farming in these countries, the precision farming market in South America is expected to grow at a high CAGR of ##.##% between 2016 and 2022.
The percentage of dealers offering fertilizer VRA (multiple nutrients) was ##% in 2011, and is expected to reach ##% in 2018, while the fertilizer VRA (single nutrient) was ##% in and is expected to reach ##% in 2018.

Summary

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"The growing focus on farm efficiency and productivity and adoption of new technologies in farming drive the increase of the precision farming market"

The precision farming market is forecasted to grow from ~$3.2B in 2015 and is forecasted to reach ~$7.9B by 2022, at a compound annual growth rate of ~13.5 percent between 2016 and 2022. Precision farming implies technology-driven information review of data acquired from the field and application of input as per the data study for rising crop productivity. Precision farming has revolutionized the method employed previously in agriculture. Precision farming is going to be the modern way of agriculture that people across the globe would adopt. The main restraining factor for the precision farming market is the high initial investment and the lack of technical awareness among farmers.

"Yield monitoring application held the biggest share of the precision farming market in 2015"

Yield monitoring is the most widely used application in precision farming as it plays a vital role in understanding field variability and helps farmers in maximizing their yields. Soil monitoring is the main application of yield monitoring. Soil monitoring is used to detect soil parameters that are needed for an efficient yield production.

"Precision farming market in Asia-Pac forecasted to grow at the maximal rate between 2016 and 2022"

Asia Pacific (APAC) is one of the bright prospective sectors in precision farming. Asia-Pac has big farmlands and a high population rise rate. Asia-Pacific has a huge regional spread which comprises countries including China (CN), Japan (JP), India (IN), Australia (AU), South Korea (KR), and Rest of Asia-Pac. Precision farming market in Asia-Pacific is in its initial stages of adoption and anticipated to grow with a double digit rate between 2016 and 2022. In Asia-Pac, specifically India, Australia (AU), China (CN), and Japan (JP), currently have the maximum growth rate and more important share in the precision farming market.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with main experts. The breakup of the profiles of primary members taking part is like:

- By Company category: Tier 1 - 55 %, Tier 2 - 20.0 percent, and Tier 3 -25.0 percent

- By Designation: C-suite executives - 75.0 percent and Managers - 25.0 percent

- By Geography: Americas - 40.0 percent, Europe - 30.0 percent, APAC - 20.0 percent, and rest of the world - 10.0 percent

Segment Research

This business report includes the precision farming market established on offering, technology, application, and area. An in-depth study of the main industry actors has been done to furnish business insights into their business, products and services, and top strategies including new product launches, mergers and acquisitions, alliances, strategic agreements, and collaborations combined with the precision farming market.

Main highlights

The analysis would benefit the market top players or new sector entrants in these ways:

1. This document breaks down the global market comprehensively and offers the closest approximations of the overall precision farming market size and that of the sub-segments across distinct applications and localities.

2. The market research benefits partners to comprehend the pulse of the sector and offers them information on key market drivers, market restraints, opportunities, and alternatives in the precision farming market.

3. This industry report would benefit partners to better find out their players and obtain additional insights to improve their rank in the sector. The competitive outlook section includes competitor landscape, new industry product developments, alliances, and mergers and acquisitions in the precision farming market.

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