Precision agriculture also known as satellite farming or site-specific crop management (SSCM) is a farming management concept centered on observing, measuring and responding to inter and intra-field variability in crops. It uses IT to ensure that the soil, as well as, the crop receive an optimum number of nutrients needed to maximize the production, thereby, increasing crop yield. It operates on several technologies such as GIS, GPS, and remote sensing to collect crucial field related information, which is further examined to support cultivator's choices with regard to crop fertilizing, planting, and harvesting. Precision agriculture for development and for sustainability and environmental protection is gaining a lot of prominence in the current scenario.
The global precision agriculture market is mainly driven by factors such as growth in agriculture industry, convergence of IT with agriculture, and increasing focus on farm efficiency and productivity. In addition, increasing need for monitoring crop health for yield production have also supported the market growth. However, high cost of investment, slow penetration of technology, and lack of technological skills may hamper the market growth. Moreover, government promoting precision agriculture, and increasing global demand for food owing to increasing population are the aspects creating new growth opportunities for the market in the forecast timeframe.
Component, technology, application and geography are the major segment considered in the global precision agriculture market. The component segment includes hardware, software, and services. Technology segment is sub-segmented into GIS, GPS, remote sensing, telematics, and VRT. Further the application segment is bifurcated into field mapping, yield monitoring, crop scouting, inventory management, weather tracking and forecasting, financial management, farm labor management, and other applications.
Based on geography, the global precision agriculture market is segmented into North America, Europe, Asia-Pacific, Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, Russia, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Major players operating in the market include AgJunction, Inc., Ag Leader Technology, AGCO Corporation, Dupont Pioneer, Trimble, Inc., BASF, CropMetrics LLC, Dicky-John Corporation, and Raven Industries, Inc., Deere & Company among others.
The key takeaways from the report
- The report will provide detailed analysis of the Global Precision Agriculture Market with respect to major segments such as offering, technology, application, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of the Global Precision Agriculture Market has been included in the report
- Profile of the key players in the Global Precision Agriculture Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Precision Agriculture Market
- Other Hardware
- Local Web Based
- System Integration & Consulting
- Managed Services
- Connectivity Services
- Assisted Professional Services
- Maintenance and Support Services
- Remote Sensing
- Field Mapping
- Yield Monitoring
- Crop Scouting
- Inventory Management
- Weather Tracking and Forecasting
- Financial Management
- Farm Labor Management
- Other Applications
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East