What's driving the Precision Farming Market outlook? | Leading Key Players: AG Leader Technology, AGCO, AgJunctio, Deere & Company, Farmers Edge Inc, Precision Planting

The application matrix of the precision farming market has encompassed weather monitoring, financial management, field monitoring, waste management, yield monitoring, irrigation management. As the application scope of precision tools increases in the ensuing years, the precision farming market is projected to observe an exponential growth rate, with a target revenue estimation in excess of USD 12 billion by 2025.

The meteoric rise of the global precision farming market can be rightly accredited to the rapidly evolving automated solutions that have enhanced agricultural practices followed across the world. These innovative solutions have ensured a marked increase in farm efficiency, higher waste reduction, and have further acted as pivotal proponents to ramp up the overall agricultural productivity. It would be prudent to mention that the rise of numerous start-ups has provided a new ray of hope to the farming sector, whose growth has been perpetually marred by innumerable challenges in the recent times.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. AG Leader Technology
2. AGCO
3. AgJunction
4. Agribotix LLC (AgEagle Aerial Systems Inc.)
5. AGSENSE (Valmont Industries)
6. Agsmart Pty Ltd
7. BouMatic
8. CROPMETRICS
9. CropX Inc.
10. Deere & Company
11. Farmers Edge Inc.
12. GEA Group Ag
13. Monsanto Company
14. Precision Planting LLC
15. Raven Industries
16. Topcon Positioning Systems Inc.
17. Tetra Laval Holdings B.V. (Delaval Corporate)
18. Trimble Navigation Limited

Furthermore, a large number of precision farming market participants have been concentrating on releasing novel products to accomplish greater sustainability, reduce environmental loss, and assist the farming fraternity to realize higher financial benefits. Considering the aforementioned statements, the growth potential of the precision farming industry looks promising with the overall business space forecast to surpass USD 12 billion by 2025, as per reliable estimates.

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.

Speaking of the prospective growth of the precision farming industry, US is likely to emerge as the strongest contender due to its swift adoption of progressive technologies in the farming sector. The well-developed infrastructure and presence of supportive government policies would further assist in rapid product penetration in the nation.
One of the chief federal agencies of US Department of Agriculture, the National Institute of Food and Agriculture (NIFA), has unveiled a precision, geospatial, and sensor technology program to deliver decision tools that would enhance management capabilities of enterprises partaking in precision farming industry. The program would reportedly address problems such as narrow profit margins and rising global competition in the farming sector. Furthermore, the initiative intends to judiciously monitor, measure, and micromanage the existing resources to accentuate efficiency and increase farm incomes of the producers, processors, and the overall farming community. Therefore, it is quite undeniable that the remedial measures undertaken by the government would revive the fortunes of the US precision farming market in the forthcoming years.

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