Precision Farming Market Size, Industry Trends, Share and Forecast 2019-2025

Precision Farming Market size in 2018 was over USD 4 billion and is estimated to grow at around 15% CAGR from 2019 to 2025.

Precision farming practices are expected to surge in adoption by enabling farmers to accurately manage changes in their fields, increase productivity and reduce production costs. These practices help collect relevant information by analyzing real-time data on soil conditions, crop and local weather forecasts, and actionable insights for farmers along with guidance on soil management, crop rotation, harvest time and optimal planting time. To provide. Precision farming technology is gaining popularity in the field of agriculture because it has the potential to increase crop yields using advanced IT-based farming methods.

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The rapid use of IoT in agriculture is contributing to the growth of the precision agricultural market. Farm managers and producers are leveraging the capabilities of IoT devices such as sensors, GPS and GNSS systems, and automated steering systems for soil sampling, temperature monitoring, file mapping, irrigation management, and many other applications. These devices provide real-time insights on how to improve agricultural practices to increase efficiency. The increasing use of drone technology for crop monitoring, planting defect identification, pest and disease control and detection will lead to market growth. For example, in May 2017, QuestUAV introduced the DATAhawkAG all-round package for precision agricultural mapping. When equipped with a MicaSense RedEdge camera, the Q-100 DATAhawkAG captures images in five separate spectral bands and helps to detect patterns related to plant stress and nutrient content.

Precision Farming Market Key Players

• Ag Leader Technology
• AGCO Corporation
• CNH Industrial America LLC
• KUBOTA Corporation
• Morris Industries Ltd.
• Precision Ag Solutions
• Precision Seeding Solutions
• Titan Machinery
• Trimble Inc.
• Vaderstad

Precision Farming Market Segmentation

The global precision planting market is segmented on the basis of offering, system type, and drive type. Based on offering, the market is segmented as hardware, software, services. On the basis of system type, the market is segmented as high-speed precision planting systems, precision air seeders, and drones. On the basis of drive type, the market is segmented as electric drive, hydraulic drive.

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Precision Farming Market Report

• What was the Precision Farming Market size in 2018 and 2019; what are the estimated growth trends and market forecast (2019-2025).
• What will be the CAGR of Precision Farming Market during the forecast period (2019-2025)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2019-2025)?
• Which manufacturer/vendor/players in the Precision Farming Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.

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This release was published on openPR.