Precision Farming Market Will Reach USD 19.9 Billion By 2030

The precision farming market is estimated to touch USD 10.1 billion in 2023, and it will touch USD 19.9 billion, growing at a 10.1% compound annual growth rate, by 2030.

The key propellers for the industry are quick urbanization, rising food needs with the expanding populace, government aids for the agricultural industry, advancing electrification rate and internet obtainability, rising knowledge of improved agrarian tech, altering weather patterns, and growing acceptance of IoT and AI in agriculture.

Precision farming is gaining more traction because of the growing utilization of IoT and enhanced analytics by farmers. Connected devices strewn around the fields screen the level of wetness and nutrients in the soil and aid in projecting rain, agrochemical needs, and sunshine hours. By studying the information produced by such devices, agriculturalists are in a position to use resources better and attain healthier and better yields.

For Getting Sample Pages of This Report:-
https://www.psmarketresearch.com/market-analysis/precision-farming-market/report-sample

The rising acceptance of smartphones is one of the solidest drivers for the precision farming market. Numerous agrarian tech businesses have made smartphone apps that permit agriculturalists to screen the field remotely.

Also, smartphone applications can be utilized to control agrarian drones, robotic and autonomous tractors, smart irrigation systems, and cameras and sensors that screen livestock. Moreover, with the growing deployment of 5G networks, information sharing between such machines, smartphone applications, and centralized databases will become smoother.

In the offering segment, hardware accounts for a major proportion of revenue, and this trend is expected to continue in the coming decade. A wide range of sensing devices, automated and control systems, radio antennas, or access points are included in precision agriculture equipment.

One of these is a GIS Guidance System for Farmers that enables them to observe the environment and working procedures in the field. Likewise, the variable rate tech permits operators to pinpoint areas that require more pesticides and seeds, therefore allowing their suitable application across the field.

For Getting More Insights of This Report:-
https://www.psmarketresearch.com/market-analysis/precision-farming-market

The yield monitoring category is dominating the market, and the category is also projected to dominate in the future as well. This is mainly because AI and IoT support agriculturalists in deciding on the application of inputs, like fertilizers, water, pesticides, and micronutrients.

Harm to harvests can happen because of numerous reasons, including plant diseases, pests, temperature variations, incessant or irregular rainfall, or lack of inputs. By screening their harvest continuously, agriculturalists can avoid the loss of their harvest and dodge a potential financial catastrophe.

North America dominates the precision farming industry, mainly because the region is the first to adopt such progressive technologies. The growing steps of the government to support the acceptance of contemporary technologies, along with the advancing ICT infrastructure, have contributed to the dominance of the continent on the market.

Browse More Related Reports:-

Electricity Meters Market:-https://www.psmarketresearch.com/market-analysis/electricity-meters-market

Smart Water Metering Market:-https://www.psmarketresearch.com/market-analysis/smart-water-metering-market

Hot Water Recirculation Pump Market:-https://www.psmarketresearch.com/market-analysis/hot-water-recirculation-pump-market

About P&S Intelligence

P&S Intelligence is a market research and consulting firm shaping growth strategies for enterprises with a global as well as niche presence. We specialize in both syndicate and custom market research, creating insight-laden reports that allow customers to stay ahead at every curve. Our clients range from multi-billion-dollar behemoths across industries to up and coming MSMEs and startups. Moreover, with our new offering, government, and public sector advisory services, we continue to trudge ahead in our quest for revolutionizing the way economies shape themselves in these ever-changing times.

Contact:
Chandra Mohan
AVP - Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blogs: https://worldwideanalysistrends.blogspot.com/
Follow Us: https://www.linkedin.com/company/pnsintelligence/

This release was published on openPR.