North America Precision Agriculture Market To Reach US$ 7.5 Billion By 2028 | Growth Rate (CAGR) of 11.8%

According to the latest report by IMARC Group, titled "North America Precision Agriculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the North America precision agriculture market size reached US$ 3.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 11.8% during 2023-2028. Precision agriculture, also known as satellite farming or site-specific crop management, is a farming management concept utilizing modern technology to observe, measure, and respond to intra-field variations in the farmland. It assists farmers in managing their crops more efficiently and cost-effectively by using satellite imagery, aerial photography, geographic information systems (GIS), global positioning systems (GPS), and other technologies. It is based on the idea that different parts of a field may have different soil types, topography, and fertility levels, and that the amount of fertilizer, water, and other inputs needed for optimal crop production may vary from place to place in the field. By utilizing precision agriculture technologies, farmers can determine the exact number of inputs required for each individual part of their field, allowing them to optimize yields and conserve resources.

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North America Precision Agriculture Market Trends:

The market in North America is majorly driven by significant growth in the agriculture industry. As farmers have become more reliant on smartphones and other forms of technology to stay informed about the latest developments in the industry, this is driving the growth of the precision agriculture market in the region. Along with this, the widespread adoption of precision agriculture methods to monitor crop health, detect potential problems, and use variable rate application of fertilizer, pesticides, and herbicides is significantly supporting the market. This, in turn, allows increased crop yields, improved soil health, and reduced environmental impacts, such as water pollution and soil erosion. In addition, precision agriculture techniques allow users to monitor production levels, soil moisture, and sunlight intensity in real-time from a distance, expediting decision-making and thereby propelling the demand for precision agriculture. Furthermore, the widespread integration of AI-based solutions in precision farming solutions is creating a positive market outlook.

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Key Market Segmentation:

Breakup by Technology:

• GNSS/GPS Systems
• GIS
• Remote Sensing
• Variable Rate Technology (VRT)

Breakup by Type:

• Automation and Control Systems
• Sensing and Monitoring Devices
• Farm Management Systems

Breakup by Component:•

Hardware
• Software

Breakup by Application:

• Mapping
• Crop Scouting
• Yield Monitoring
• Soil Monitoring
• Precision Irrigation
• Others

Breakup by Regions:

• United States
• Canada

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players

Key Highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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