Satellite farming or Precision farming is using data to help farmers to be more efficient in their operation and make precise decisions about planting, growing, harvesting, transportation of crops as well as fostering different agriculture industries leading to better price point and stable supply chain.
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The Global Precision Farming market is estimated to grow from USD 3.36 billion to USD 7 billion by 2023 at a CAGR of 15.25% by 2023.
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Advancement of information & technology and digital farming, which is going to aid in this industry during the forecast period.
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The precision farming market is segmented into technology, components, application, industries, and delivery modes and by region.
Based on technology such as a guidance system, remote sensing, variable rate, tele-matics, Geo- mapping and UAV helps in maximizing crop production. In terms of components, Precision Farming market can be segmented into hardware, software, drones and driverless tractors which give precise data to the farmers to make better decision.
Yield monitoring, field mapping, variable rate application, soil monitoring weed monitoring, pest monitoring, irrigation and farm labor management are the major application in the industry. In the field of forestry, Aquaculture, farming, livestock, and green house plays a vital role in reduction in cost optimization by reducing labor as well as input cost.
These data can be delivered through mobile applications, internet kiosks, tele-calls, and SMS.
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Adoption of new agriculture technology from aquaculture and raising livestock to arable farming along with food production not only improving farmer financial performance but also meet the food needs of booming population. Various sensors placed in Autopilot give real time information on precise navigation, exact terrain automated crop spray in sustainable and Eco friendly way.
Sensors are placed throughout the field that measure temperature, nutrition level and humidity of the soil sharing real time data with farmers.
The major drivers for the precision farming industry include the adoption of digital technologies, smart phones, cloud technology and pressure of higher productivity and crop health due to the expansion of population and the government?s support for adoption of new technology. However, major challenges of the Precision farming market are high-costs of investment, lack of technological skills, and scarcity of trained farmers particularly in developing countries.
Key industry players are precision farming market share include John Deere, Ag Junction, Raven Industries, AGCO, Trimble Navigation, Precision Planting, AG Leader Technology, Topcon Precision Agriculture, Monsanto, BASF and Dupont Pioneer.
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Key benefit of this report
*This report provides current market trends and future growth expectations.
*This report examines the market size and changing competitive dynamics
*It covers information regarding key drivers, challenges or restraining market growth
*It provides a five-year forecast assessed on the basis market value chain, Porter's five forces, and supply chain management.
*Market factor analysis delivers treasured information regarding the possible purchasers and suppliers and understanding the stakeholders involved.
*This report incorporates data regarding companies and business decision by having complete insights on the markets and by creating in depth analysis of market segments.
*Satellite service providers
*Semiconductor component and device manufacturers
*Original equipment manufacturers (OEMs)
*Component and device suppliers and distributors
*Software, service, and technology providers
*Standardization and testing firms
*Government bodies such as regulatory authorities and policy makers
*Associations, organizations, forums, and alliances related to semiconductor and automotive industries
*Research institutes and organizations
*Market research and consulting firms
Table of Content
1 Executive Summary
2 Demographic Overview
3 Research Methodology
4 Premium Insights
5 Market Overview
6 Market Factor Analysis
7 Global Precision Farming Market By Application
8 Global Precision Farming Market By Type
9 Global Precision Farming Market By Soy Additives
10 Global Precision Farming Market By Application
11 Global Market Precision Farming Market Analysis By Region
12 Market Trends & competitive Analysis
13 Company Profiles
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