Global Precision Agriculture Market at a Rapid Growth Pace Until 2027 With Top Companies to Watch Out in COVID 19 - Ag Leader Technology, John Deere, AGCO Corporation, Trimble, Dickey-John Corporation, CNH Industrial, Raven Industries, TeeJet Technologies

Overview:

Precision agriculture is an advanced farming technique that utilizes several technologies, such as GIS, GPS, and remote sensing technologies, to collect crucial field related information to ensure sustainability, profitability, and environmental safety. The global precision agriculture market focuses on six regions, such as North America, South America, Europe, Asia Pacific, Middle East, and Africa.

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Drivers:

Government initiatives for promoting the use of precision farming techniques are expected to drive the growth of the global precision agriculture market over the forecast period. For instance, in September 2019, the Government of India launched the multilingual mobile application, CHC-Farm Machinery, for farmers to hire tractors and other farm equipment. Changing climate, growing demand for food, and increasing the adoption of smart technologies in the global agriculture sector is also expected to fuel the growth of the market. Moreover, increased adoption of Variable-rate technologies (VRT), guidance technologies, and remote sensing technologies by farmers is expected to propel the growth of the global precision agriculture market.

Restraint:

Limited technical knowledge and skills of farmers and the high cost of modern agricultural equipment are expected to hamper the global precision agriculture market growth.

Opportunities:

The integration of smartphones with multiple user-friendly farming applications is expected to create growth opportunities in the global precision agriculture market.

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Regional Insights:

The Asia Pacific is expected to witness robust growth in the global precision agriculture market due to rising awareness among farmers about precision agriculture in this region. For instance, in March 2020, AgJunction joined forces with Big Data Industrial Technology Research Institute and Anhui Zhongke Intelligent Sense and GeoSurf Corporation to provide precision agriculture solutions in the Asia Pacific region.

Competitive Section:

Kay players involved in the global precision agriculture market are Ag Leader Technology, John Deere, AGCO Corporation, Trimble, Dickey-John Corporation, CNH Industrial, Raven Industries, TeeJet Technologies, SST Development Group, CropX, Deere & Company, AgSense, CropMetrics, Monsanto Company, DICKEY-John, AgJunction, and AgSmarts.

In January 2020, AGCO Corporation launched the new Fendt Momentum planter in North America, which is designed to place seeds at optimum depth and spacing.

In November 2019, Raven Industries acquired Smart Ag Inc. to become the industry leader in autonomous agriculture solutions.

In January 2018, John Deere introduced Intelligent Boom Control on its 1270G harvester in North America.

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