Precision Farming Market : Eminent Players – Agribotix, LLC, AgSense LLC, Boumatic LLC., AGCO Corporation, CropMetrics LLC, AgSmarts Inc., Deere & Company, Dickey-John Corporation

How will the implementation of sustainable agriculture practices impact Asia Pacific precision farming market growth?

Rising inclination toward smart farming practices to increase agricultural productivity has been driving the precision farming market growth. The implementation of big data and smart communication technologies along with the deployment of sensors in the fields are delivering precise insights about the existing crop conditions.

Incorporation of drones and IoT technology for field mapping and data gathering has been triggering precision farming market outlook. IoT is playing a vital role in increasing the farm productivity by providing notable information on recent trends in agriculture. The technology also provides key insights to address the environmental challenges along with the information on ongoing farm activities by offering access to vast amount of data from the interconnected farms.

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Favorable government policies and subsidies allocated for precision farming along with growing investments to provide breakthrough innovations in the agriculture sector will augment precision farming market trends. For instance, the Dutch government funded the satellite technology for collecting crop data, by investing about USD 1.5 million in 2017.

Will the hardware-based segment account for a substantial precision farming market share?

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 market share by holding over 70% share by 2025.

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The advent of precision farming includes several hardware devices such as sensors, drones, GPS systems, and smartphones which collectively monitor the crop conditions and thus help farmers in taking timely measures for yielding high productivity.

How will the managed services segment will exhibit significant growth rate over 2019-2025?

The precision farming managed services market 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.

The managed services are handling the complexity of running and maintaining the hardware and software components in the precision farming solutions, so that farmers can focus on improving the efficiency of field operations.

What factors will augment the Asia Pacific precision farming market share?

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 precision farming market growth. As per reliable sources, the Asia Pacific precision farming market may grow at more than 20% CAGR during 2019-2025.

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