Precision Farming Market 2020 Growth Projection by Key Players: AG Leader Technology, AGCO Corporation, Boumatic, Farmers Edge Inc., Monsanto Company, Precision Planting Inc., Raven Industries

Precision Farming Market in managed services segment is estimated to grow at a rate of more than 27% over the forecast term. The growth can be credited to the rising implementation of IoT and cloud computing in precision farming. Smart decision systems such as the "agriculture decision support systems" are increasingly getting hosted on cloud platforms, helping farmers to readily take advantage of the IoT based precise data with the help of internet connected devices such as tablets and smartphones.

Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/227

The Major Key Players in the Market are as follows:
1. AG Leader Technology
2. AGCO Corporation
3. Boumatic LLC
4. Delaval Corporation
5. Farmers Edge Inc.
6. Monsanto Company
7. Precision Planting Inc.
8. Raven Industries

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 market is bound to record commendable growth in the forthcoming years. The precision farming market is estimated to register a striking double-digit growth rate over 2019-2025.

The proliferation of precision farming has been made possible by the existence of smart hardware devices which interconnect with each other to serve the common goal of data collection and analysis. Based on component, the hardware segment is expected to account for a majority of precision farming market share by holding over 70% share by 2025.
The increasing awareness about how the precision farming solutions are helping to improve the agricultural yield is expected to drive the Asia Pacific precision farming market share. In addition, favorable government measures to promote sustainable agriculture practices will influence the regional growth. The government foresees to educate the farmers and provide timely updates on climate change so that farmers can dynamically alter the farming practices to obtain agricultural productivity. Moreover, the region has been witnessing surging adoption of drones and UAVs to gather crop related data leading toward market growth. As per reliable sources, the Asia Pacific precision farming market may grow at more than 20% CAGR during 2019-2025.

Make an Inquiry for purchasing this Report @ https://www.decresearch.com/inquiry-before-buying/227

Despite management of data being one of the major hindrances to the growth of this business space, 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.

Contact Us:
DecResearch.com
Website: - https://www.decresearch.com/
Email: info@decresearch.com

About DecResearch.com:
DecResearch.com, powered by GMI, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed 'Table of Contents' for reports being regularly published by GMI. Via this platform, users not only get to answers to their questions about these reports, they also have an additional avenue to talk to the sales and research teams of GMI to learn more about the topics of their interest.

This release was published on openPR.