This Precision Agriculture market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Precision Agriculture market.
Precision agriculture is also known as satellite agriculture, precision ag or precision farming, as-needed farming, and site-specific crop management. The site-specific crop management is a farming management theory based on measuring, responding, and observing to plant and intra-field variability in the crop. Precision agriculture is used for transforming agricultural extension in emerging countries using the latest available technologies and research methods. The goal of precision agriculture is to ensure sustainability, protection, and profitability of the environment. Precision agriculture relies upon specific equipment, IT services, and software. Predictive analytics software uses the data to help with guidance about soil management, optimal planting times, a crop rotation, and harvesting times.
Precision Agriculture Market: Drivers
Precision agriculture has a variety of technology opportunities that improves farming operation, from drones to climate monitoring systems.
Rapid use of IoT in agriculture sector is providing to the growth of the precision farming market. These technologies can be the Internet of Things, mobile phones, artificial intelligence, and the use of data by farmers. The adoption of various technologies in precision agriculture are electromagnetic, photo electricity, remote sensing data, ultrasounds, and conductivity are used to structure, texture measures temperature, etc. Sensor technology use has been widely reported to provide information on water status/plant fertility and soil properties.
Precision agriculture technologies will generally require the use of software to carry out various tasks such as information layers mapping, display-controller interfacing, farm accounting of inputs per field, pre and post-processing data analysis and interpretation, farm accounting of inputs per area, and many others software. The factors driving precision agriculture technology is the increasing use of smartphones, the rising application of technology, and the growing use of cloud-based technology to minimize the human efforts and losses. The rising demand to boost food production in government initiatives and available agricultural land to increase the usage of new technologies in agriculture are driving market growth.
Precision Agriculture Market: Competition Landscape
Some of the prominent players manufacturing precision agriculture are Fuse Technologies, IBM, Grownetics Inc., Fairport Farm Software, Agribotix, Case IH Agriculture, Farmers Edge Inc., Bayer CropScience AG, ClearAg Operations, Deere & Company, MapShots Inc., SST Software, Raven Industries, Conservis Corporation, and Granular AG.
Precision Agriculture Market: Regional overview
Based on the region, the trends of the precision agriculture market fluctuate across various geographical regions. The precision agriculture market includes a leading share in many countries of Asia-Pacific, North America, and the rest of the world. North America has been noticed to receive the major share of the precision agriculture market due to the increasing adoption of the high-level agricultural equipment and solutions like steering, farm management software, guidance systems, and sensors. The USA leads the market in this region due to the presence of many critical manufactures of high technologies awareness among people precision agriculture high technologies in the region. The European market quietly proceeds with significant growth opportunities for precision agriculture technologies in the Eastern Europe region. Presence of essential agricultural producing countries, such as Indonesia, India, China, Argentina, and Brazil in this region is expected to boost the market for advanced agricultural techniques.
The Precision Agriculture market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
The report covers exhaustive analysis on:
- Precision Agriculture Market Segments
- Precision Agriculture Market Dynamics
- Precision Agriculture Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of LATAM)
- Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX, Rest of Western Europe)
- Eastern Europe (Russia, Poland, Rest of Eastern Europe)
- Asia Pacific Excluding Japan (China, India, South Korea, ASEAN, Australia & New Zealand, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Northern Africa, South Africa, Rest of MEA)
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Precision Agriculture Market: Segmentation
The precision agriculture market has been segmented on the basis of technology type, component, application, and region.
The Precision Agriculture market is segmented on the basis of Technology type:
- Remote Sensing
- Global Positioning System (GPS)
- Variable Rate Technology (VRT)
- Geographic Information System (GIS)
The Precision Agriculture market is segmented on the basis of Component:
The Precision Agriculture market is segmented on the basis of Application:
- Yield Monitoring
- Soil Monitoring
- Crop Health Measurements
- Seed and Fertilizer Management
- Farm Labor Management
- Field Mapping
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Precision Agriculture Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Precision Agriculture Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Precision Agriculture Market report?
In addition to up-to-date market figures and customized of the Precision Agriculture Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.