Advanced Farming Technique Market Aims to Expand at Double-Digit Growth Rate
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Latin America Advanced Farming Market – Drivers, Opportunities, Trends, and Forecasts: 2019–2025
Advanced farming is termed as an IT based farming management to analyze, manage, and identify the variability in the fields for projection, optimum profitability, and sustainability of the land resource. Advanced farming provides benefits for both environment and economic sectors such as reducing the use of fertilizers, water, pesticides, and herbicides by using the farm equipment. Some of the major drivers are monitoring the plant and soil, saving time and cost in the production of crops, providing better information for management decisions, and reducing the use of excess run-off water.
According to HTF MI Research, the “Latin America Advanced Farming Market” is estimated to witness a CAGR of 15.8% during the forecast period 2019–2025. The market is growing due to the growth of population and uncultivated land in the Latin America region. The increase in the population will force the farmers to come up with a good yield of crops and thus, using advanced farming helps in improving the productivity with a different set of technologies.
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Some of the players included in the report are Raven Industries Inc., Trimble Navigation Ltd., AGCO Corp., Deere & Company, and AgJunction Inc. The advanced farming market is segmented by technologies, applications, services, deployment model, and countries. The High Precision Positioning Systems (HPPS) is expected to reach $75.3 million by 2025, growing at a CAGR of 15.8% during the forecast period 2019–2025. In farming, HPPS is used for collecting, storing, processing, and offering data to manage the farm. In addition, Global Positioning Systems (GPS) provides accurate information and allows farmers to work in low visibility of field conditions such as fog, dust, rain, and darkness. The countries included in the report are Brazil, Mexico, Argentina, Ecuador, Peru, Uruguay, Bolivia, Chile, and Colombia. Brazil holds the largest share of the market whereas other countries are projected to have great opportunities in the market in the coming years
Trimble Navigation, AGCO Corp, Deere & Company, Raven Industries, AqJunction, IBM, Microsoft Corp, Yara, Valmount Industries Inc, Aqribotix,AqDNA,Smart Fertilizer Management, FTI Pty Ltd, BovControl, Strider, 8villages,
Latin America Advanced Farming Market – Drivers, Opportunities, Trends, and Forecasts: 2019–2025
The agriculture sector plays a major role in Latin America’s GDP with a steady growth of population and growing food requirements in the region. The farmers in the region have started utilizing the advanced farming techniques to increase the productivity and reduce the environmental risks.
The advanced farming technologies such as HPPS and VRT help the farmers to take informed decisions about crop harvesting and thereby increase the yield. Alternatively, advanced farming has become a keystone of sustainable agriculture and it compliments crops, soil, and farmers. Since the past 2–3 years, the cloud based farming management systems are being implemented in the advanced farming market. With the help of farming management systems, the farmers can now monitor or track the farm activities from any location by using mobile devices. Many providers in the region have started to provide this service to farmers to improve and develop the way of farming being done.
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The factors such as government investments, growing food requirements, and the need for water management systems are driving the advanced farming market growth. Small farmers in the region have started implementing advanced farming technologies with the help of government support, especially in the countries such as Brazil, Mexico, Chile, and Argentina.
Today, a lot of farming companies are partnering with the technology and telecom operators to improve the present advanced farming techniques. With the increase in the number of advanced farming projects and programs in Latin America, the advanced farming market in Latin America is expected to grow rapidly in the next 5–6 years. The Latin America advanced farming market is expected to reach $541.8 million by 2025.
Table of Contents
1 Industry Outlook 15
1.1 Industry Overview 15
1.2 Industry Trends 15
1.3 Pest Analysis 16
2 Report Outline 17
2.1 Report Scope 17
2.2 Market Definition 17
2.3 Report Summary 17
2.4 Research Methodology 18
2.5 Report Assumptions 19
3 Market Snapshot 20
4 Market Outlook 23
5 Market Characteristics 28
6 Technologies: Market Size and Analysis 34
7 Applications: Market Size and Analysis 46
8 Deployment Model: Market Size and Analysis 56
9 Services: Market Size and Analysis 60
10 Countries: Market Size and Analysis 65
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