Precision Farming Market 2019 - Asia Pacific to be A Major Growth Contributor to 2025
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Global precision farming market share, over the recent years, has been witnessing meteoric rise owing to the laudable initiatives undertaken by regional governments to combat declining agricultural productivity. The farming sector has perpetually been marred with several challenges including a marked increase in the cost of production, restricted employment opportunities, fragmented land holdings, degrading and diminishing natural resources, etc. Moreover, the rapid pace of urbanization and the burgeoning population has further aggravated and contributed toward further deterioration of the farming sector which already is in shambles.
In order to tackle these massive impediments, the farming community across the world is now gradually incorporating numerous advanced precision tools in their farmlands to accomplish various objectives such as greater sustainability, realize higher financial benefits, and to lower environmental harm. Apparently, as a consequence of the aforementioned aspects, the overall precision farming industry size is bound to record commendable growth in the forthcoming years. In fact, as per the statistics noted in the recent study conducted by Global Market Insights, Inc., precision farming market is estimated to register a striking double-digit growth rate over 2019-2025.
Geomapping technologies are expected to hold a share of over 20% of the precision farming 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.
The irrigation management application segment is projected to grow at a CAGR of over 15% between 2019 and 2025. Using precision farming 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.
Browse key industry insights spread across 375 pages with 412 market data tables & 31 figures & charts from the report, “Precision Farming Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/precision-farming-market
The companies in the precision farming market are entering into strategic partnerships and acquiring companies to gain more market share. For instance, in September 2018, Topcon Agriculture entered into a licensing agreement with Raven Industries. Under the agreement, Topcon Agriculture's Slingshot Application Programming Interface (API) was used in Raven's software platforms. The software-to-software interface help users to share data between software systems.
Major Key Points from Table of Content:
Chapter 7 Precision Farming Market, By Application
7.1 Key trends, by application
7.2 Weather monitoring
7.2.1 Weather monitoring market size, 2014-2025
7.3 Yield monitoring
7.3.1 Yield monitoring market size, 2014-2025
7.4 Field mapping
7.4.1 Field mapping market size, 2014-2025
7.5 Irrigation management
7.5.1 Irrigation management market size, 2014-2025
7.6 Waste management
7.6.1 Waste management market size, 2014-2025
7.7 Financial management
7.7.1 Financial management market size, 2014-2025
7.8.1 Others market size, 2014-2025
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/precision-farming-market
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