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Precision Agriculture market 2020 - Indepth Industry Analysis and future market scenario Base on COVID 19 Impact | Deere & Company, Trimble Navigation Limited, AGCO Corporation, and Monsanto Company & More
Precision Agriculture Market
The global precision agriculture market is expected to garner $7.8 billion by 2022, registering a CAGR of 14.9% during the period 2016-2022. Precision agriculture is a farming technique associated with application of different technologies and solutions to enable efficient farming and improve crop yield. It presents significant potential in enhancing food productivity while at the same time providing sustainable management of resources.
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Precision agriculture technologies include GPS, GIS, telematics, Variable rate technology (VRT), and remote sensing. Among the mentioned technologies, GPS is the largest revenue contributor, owing to its ability to help farmers and agriculture service providers to automatically record the field data and apply variable rate of inputs to smaller areas within larger fields. From a growth perspective, geographic information system (GIS) technology is anticipated to exhibit the highest CAGR of 15.7%, driven by higher adoption mainly in North America and Europe.
The report offers key drivers that propel the growth in the Precision Agriculture Market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
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Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the business for future challenges in advance.
Key players in the precision agriculture market are Deere & Company, Trimble Navigation Limited, AGCO Corporation, and Monsanto Company among others. Product launch, acquisition, and partnership are observed to be the prominent strategies adopted by the leading market players to strengthen their market position, enhance their product portfolio, and expand their geographical presence. For instance, in 2016, Deere & Company launched mobile real-time kinematics (RTK), a latest innovation in machine guidance and telematics that monitors field and crop requirements effectively.
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The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). These insights help to devise strategies and create new opportunities to achieve exceptional results.
The research offers a detailed segmentation of the Precision Agriculture Market. Key segments analyzed in the research include TECHNOLOGY Type, COMPONENT Type, Geography and more. Extensive analysis of sales, revenue, growth rate, and market share of each TECHNOLOGY Type, COMPONENT Type for the historic period and the forecast period is offered with the help of tables.
KEY BENEFITS
The study provides an in-depth analysis of the global precision farming market to elucidate the prominent investment pockets in the market.
The report provides a comprehensive analysis of the global precision farming market with current trends and future growth opportunities, challenges, and competitive scenario.
The current market trends are quantitatively analyzed and estimated for the period 2015 - 2022, which have been provided to highlight the financial competency of the market.
Porter’s five forces analysis provides inputs on the potential of buyers and suppliers and highlights the competitive structure of the market, which is likely to enable market players to devise effective growth strategies and facilitate better decision-making.
Value chain analysis provides key inputs on the role of different stakeholders involved at various stages.
SWOT analysis of the key market players highlights the essential strengths and potential opportunities in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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