Press release
Precision Farming Market Growth Analysis by Top Leading Key Players: Agribotix, LLC, CropX, Trimble Navigation Limited, AGCO Corporation, AgSmarts, Boumatic LLC, Deere & Company, AgSense LLC, CropMetrics LLC, Precision Planting
Precision Farming Market
According to Global Market Insights, Precision Farming Market is anticipated to be over USD 10 billion by 2024 and is expected to grow at the growth rate of over 14% during the forecast period. The precision farming is an IT based agriculture management system that identifies, analyzes, controls, and manages temporary and spatial feasibility within the farm for increasing the profitability and yield, product life, quality, and the protection of resources by reducing the production cost. It is a new technology where the collected field data is analyzed and used to gain more yield.
The hardware segment is expected to hold a majority share of the precision farming market by 2024 owing to large scale installation of different precision farming devices such as sensors, GNSS antennas & receivers, and increasing adoption of mobile devices for running precision farming apps. Moreover, growing popularity of drones for aerial observations and field mapping applications is also expected to drive the hardware market growth between 2017 and 2024.
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Top Key Players: -
Some of the key market players of the precision farming market are GEA Group AG, Agribotix, Dickey-John Corporation, AgSmarts, Precision Planting Boumatic, CropMetrics, Deere & Company, Delaval, Farmers Edge, AgSense, Monsanto Company, AGCO, Raven Industries, Trimble Navigation, CropX, and Topcon Positioning Systems.
Market share calculation in this report is not done based on companies covered in it. The calculation of precision farming market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: -
North America dominated the market with a 45% share in 2016 in the precision farming market due to the growing use of the advanced data and communication technology in the agriculture sector. The availability of supportive government policies and a technologically well-developed infrastructure is also assisting the market demand. Furthermore, the government efforts and initiatives to help the agricultural sector are helping farmers and equipment provider to invest in new technology and customize the products according to a specific application.
The Asia Pacific precision agriculture market is projected to exhibit fastest growth between 2017 and 2024 due to favorable initiatives being undertaken in countries such as India, China, and Japan to improve sustainable agricultural productivity, and food security. To support the increasing population in the sub-continent, advanced technologies are being increasingly explored and implemented for improving farm productivity and optimizing resource costs. Also, favorable government initiatives are largely contributing to the growing adoption of digital farming market practices in the region.
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Partial Chapter of the Table of Content
Chapter 4. Competitive Landscape
4.1. Introduction
4.2. Company analysis by major hardware players, 2016
4.2.1. John Deere
4.2.2. AGCO Corp.
4.2.3. Trimble Navigation Ltd.
4.2.4. Raven Industries
4.2.5. Topcon Corp.
4.3. Company analysis by pure providers, 2016
4.3.1. AgSmart Inc.
4.3.2. AgSense Inc.
4.3.3. Ag Leader Technologies
4.3.4. Agjunction
4.3.5. Agribotix
4.4. Other prominent vendors
Chapter 5. Global Precision Farming Market, By Component
5.1. Global precision farming market share by component, 2014 & 2024
5.2. Hardware
5.2.1. Market estimates and forecast, 2014 - 2024
5.2.2. Market estimates and forecast, by region, 2014 - 2024
5.2.3. Sensors
5.2.3.1. Market estimates and forecast, 2014 - 2024
5.2.3.2. Market estimates and forecast, by region, 2014 - 2024
5.2.4. Automated steering system
5.2.4.1. Market estimates and forecast, 2014 - 2024
5.2.4.2. Market estimates and forecast, by region, 2014 - 2024
5.2.5. Drones, UAV & Cameras
5.2.5.1. Market estimates and forecast, 2014 - 2024
5.2.5.2. Market estimates and forecast, by region, 2014– 2024
5.2.6. Mobile devices
5.2.6.1. Market estimates and forecast, 2014 - 2024
5.2.6.2. Market estimates and forecast, by region, 2014 - 2024
5.2.7. GPS & GNSS
5.2.7.1. Market estimates and forecast, 2014 - 2024
5.2.7.2. Market estimates and forecast, by region, 2014– 2024
5.2.8. Others
5.2.8.1. Market estimates and forecast, 2014 - 2024
5.2.8.2. Market estimates and forecast, by region, 2014 - 2024
5.3. Software (Farm management)
5.3.1. Market estimates and forecast, 2014 - 2024
5.3.2. Market estimates and forecast, by region, 2014 - 2024
5.4. Service
5.4.1. Market estimates and forecast, 2014 - 2024
5.4.2. Market estimates and forecast, by region, 2014 - 2024
5.4.3. Consulting & training
5.4.3.1. Market estimates and forecast, 2014 - 2024
5.4.3.2. Market estimates and forecast, by region, 2014 - 2024
5.4.4. Maintenance & update
5.4.4.1. Market estimates and forecast, 2014 - 2024
5.4.4.2. Market estimates and forecast, by region, 2014– 2024
5.4.5. Managed service
5.4.5.1. Market estimates and forecast, 2014 - 2024
5.4.5.2. Market estimates and forecast, by region, 2014 - 2024
5.4.6. Integration
5.4.6.1. Market estimates and forecast, 2014 - 2024
5.4.6.2. Market estimates and forecast, by region, 2014 - 2024
5.4.7. Other professional service
5.4.7.1. Market estimates and forecast, 2014 - 2024
5.4.7.2. Market estimates and forecast, by region, 2014 - 2024
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The sensors segment is projected to dominate the hardware market with over 19% of the hardware share in hardware by 2024 due to increasing utility of different types of sensors for facilitating remote sensing applications in precision farming market systems. As farm management systems are being increasingly integrated with various sensor-based systems such as aerial sensors, ground-based sensors and satellite sensors to collect information regarding critical agricultural parameters, the adoption of sensors is expected to exhibit positive growth during the forecast period.
With advancements in technology, further developments will introduce new devices with modern features such as location tracing, geo-mapping, and data processing capabilities. UAVs and cameras are expected to gain significant growth during the forecast period due to their increased usage for mapping, monitoring, and surveillance of the field. Furthermore, other uses of UAVs and cameras in farming include precision spraying, irrigation inspection, crop scouting, and mapping individual fields.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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