Skip to main content

Precision Farming Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications To 2027

FEB 25, 2020: The global Precision Farming market size is anticipated to reach USD 12.9 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to register a CAGR of 13.0% over the forecast period. Precision farming, also known as site-specific crop management or satellite farming, is a farm management concept that uses information technology to ensure optimum health and productivity of crops. The precision farming technique largely depends on specialized equipment such as sensing devices, antennas and access points, and automation and control system. It also involves maintenance services and managed services. Additionally, it incorporates a broad range of technologies such as bio-engineering, robotics and automation, imagery and sensors, and big data.
Growing number of applications for telematics in agriculture is anticipated to drive demand for precision farming over the projected period. Telematics services include tracking devices using Global Navigation Satellite System (GNSS) to show the position of the equipment for management purposes. Major manufacturers of agriculture equipment are adopting telematics services for their equipment to improve farm efficiency, thereby reducing the cost of agricultural operations and maximizing profitability. Additionally, improved management can help reduce environmental impact. Telematics technology is used to capture and transfer data from the farm equipment through sensors installed on tractors and other field monitoring equipment. The increasing adoption of telematics systems by agricultural equipment companies is expected to drive the precision agriculture market.
Furthermore, with advancements in GPS guidance and automation, drones are poised to transform the agriculture industry. The ability of drones to precisely analyze the soil at the beginning of the crop cycle and detect a plant infected with bacteria or fungus is anticipated to propel the growth of the drone segment.
However, low rate of technology adoption among farmers is likely to hamper market growth over the forecast period. This may be due to factors such as absence of stringent standards and limitations on the exchange of data. Furthermore, farmers lack independent consulting and advisory services owing to the absence of validated agronomic models for Variable Rate Technology (VRT) to make decisions on investments. In addition, independent services are not linked to co-operatives, government bodies, and farmer’s associations where farmers can get additional information to make improved decisions.
Further key findings from the report suggest:
• Increasing government support for adopting modern agricultural techniques and growing need for efficiently monitoring the health of crops are expected to drive market growth
• Cloud-based software model is anticipated to gain significant precision farming market share over the projected period as it reduces energy consumption and provides storage for large amount of data while facilitating cost saving
• Innovations in GPS mapping and related farming applications are enabling farmers to operate more efficiently and increase their profit margins
• Demand for drones is expected to grow in the agriculture field as they are increasingly used in monitoring irrigation systems
• Yield monitoring finds wide applications in soil monitoring as it helps detect the properties of soil for increasing yields
• Digital revolution in the agricultural sector, along with government financial incentives to farms, is likely to drive demand for precision farming in Europe in the forthcoming years
• Asia Pacific is expected to witness the fastest growth owing to availability of the largest agricultural land, which provides growth opportunities in countries such as China, India, Australia, and Japan
• Key players in the precision agriculture market include Agribotix LLC (U.S.); Deere & Company (U.S.); SST Development Group, Inc. (U.S.); Farmers Edge, Inc. (Canada); and Granular, Inc. (U.S.).
Table of Contents
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Precision Farming – Industry Snapshot & Key Buying Criteria, 2016 – 2027
Chapter 3. Industry Outlook
3.1. Market Segmentation & Scope
3.2. Precision Farming Market Size and Growth Prospects
3.3. Precision Farming – Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Growing awareness of precision farming
3.4.1.2. Challenges involved in agricultural work
3.4.1.3. Growing awareness of the benefits of agriculture drones
3.4.1.4. Growing government support for the adoption of modern agricultural methods
3.4.2. Market restraint analysis
3.4.2.1. High initial capital investment
3.4.3. Market challenge analysis
3.4.3.1. Scarcity of trained farmers
3.4.3.2. Lack of technology adoption among farmers
3.4.4. Market opportunity analysis
3.4.4.1. Growing application of telematics in agriculture
3.5. Key Opportunities – Prioritized
3.6. Precision Farming- Key Company Analysis, 2019
3.6.1. Key company analysis, 2019
3.6.2. Precision farming key start-up analysis
3.7. Industry Analysis – Porter’s
3.8. Precision Farming- PEST Analysis
Chapter 4. Precision Farming Market: Offering Estimates & Trend Analysis
4.1. Precision Farming Market: Offering Analysis
4.1.1. Hardware market estimates and forecasts, 2016 – 2027 (USD Million)
4.1.1.1. Automation and control systems market estimates and forecasts, 2016 – 2027 (USD Million)
4.1.1.1.1. Drones market estimates and forecasts, 2016 – 2027 (USD Million)
4.1.1.1.2. Application control devices market estimates and forecasts, 2016 – 2027 (USD Million)
4.1.1.1.3. Guidance system market estimates and forecasts, 2016 – 2027 (USD Million)
4.1.1.1.3.1. GPS market estimates and forecasts, 2016 – 2027 (USD Million)
Continued…….

To See More Reports of This Category by Radiant Insights:
https://latestmarkettrends.news.blog
About Radiant Insights:Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 201 Spear St #1100, Suite #3036
City: San Francisco
State: California
Country: United States
For more information, Visit: http://www.radiantinsights.com

Comments

Download Free Popular Research

Global Food Grade & Pharma Grade Calcium Phosphate Market Will Generate Maximum Revenue From 2020 To 2025

  Nov 05 2020:   The global   Food Grade & Pharma Grade Calcium Phosphate market   was valued at $XX million in 2018, and Radiant Research analysts predict the global market size will reach $XX million by the end of 2028, growing at a CAGR of XX% between 2018 and 2028. This report provides detailed historical analysis of global market for Food Grade & Pharma Grade Calcium Phosphate from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Food Grade & Pharma Grade Calcium Phosphate market. To Request A Sample Copy Of This Report @:     https://www.radiantinsights.com/research/2013-2028-report-on-global-food-grade-and-pharma-grade-calcium-phosphate-market/request-sample Leading players of Food Grade & Pharma Grade Calcium Phosphate including: Innophos Prayon ICL PP Chengxing Industrial Hens Budenheim Tianjia Chem Hindus

Global IT Equipment Disposal Market Analysis, Size, Share, Growth, Trends and Forecast 2018-2028: Radiant Insights Inc

April 12, 2019:  The global IT Equipment Disposal market was valued at $XX million in 2017, and Radiant Research analysts predict the global market size will reach $XX million by the end of 2028, growing at a CAGR of XX% between 2017 and 2028. To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/2013-2028-report-on-global-it-equipment-disposal-market/request-sample This report provides detailed historical analysis of global market for IT Equipment Disposal from 2013-2018 and provides extensive market forecasts from 2018-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the IT Equipment Disposal market. To Browse Full Research Report @: https://www.radiantinsights.com/research/2013-2028-report-on-global-it-equipment-disposal-market Leading players of IT Equipment Disposal including: Eletronic Recyclers International Sims Recycling Solutions Waste Manag

Cervical Cancer Diagnostic Market Worth About USD 12 billion By 2024

  Cervical Cancer Diagnostic Market size is anticipated to reach USD 12 billion by 2024. Cervical cancer is caused due to uncontrolled cell division of cancerous or abnormal cell growth in the cervix region. The factors that propel the growth of the cervical cancer diagnostics market include increase in aging female population, rise in the awareness programs for cervical cancer screening, high occurrence rate, and rapid adoption of technology. Moreover, increasing consciousness among the population regarding prevention, care, and treatment of cervical cancer, and availability of advanced and variety of treatment are likely to offer impetus to the market. On the other hand, there are factors that may hamper the growth of the market including lack of awareness related to cervical cancer protection, and changes in regulatory guidelines for cervical cancer screening. Cervical cancer diagnostics industry is anticipated to grow at a significant CAGR of 5.9% in the upcoming period as the sc