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Precision Agriculture Market Forecast 2015-2022 Report published by leading research firm

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According to a new report Added by Premium Market Insights, titled, “Precision Agriculture Market ”, The Precision Agriculture market summary, product definition, overall size and share, classifications, applications, end-user, industry verticals, and the industry chain analysis has been covered in this statistical surveying report.

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Precision agriculturealso known as site specific crop management (SSCM) and satellite farming is an advanced farming technique that utilizes several technologies such as GPS, GIS and remote sensing to collect crucial field related information, which is further analyzed to support grower's decisions with regard to crop fertilizing, planting, and harvesting. In addition, sensors are placed throughout the field that measure temperature, nutrition level and humidity of the soil.

Therefore, the technology eliminates manual human efforts by automating crucial processes including real-time farm monitoring and information sharing.

Precision agriculture is swiftly gaining popularity among farmers due to the increasing need of optimum production with the given resources.

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Further, the changing weather patterns due to increasing global warming, have necessitated the adoption of advanced technologies to enhance the productivity and crop yield.

By offering technologies such as real-time farm monitoring, weather forecasting, optimal field requirements and similar others, precision agriculture enables the farmers to increase the yield with minimum human efforts and wastage. Moreover, the technology enables the farmers to manage their resources as well as access real time information through their smartphones, thereby offering greater mobility and ease of operation.

However, major restraints of the market are affordability of the technology and lack of awareness about the benefits of precision agriculture among farmers, particularly in the developing countries.

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TOP KEY PLAYERS

Deere & Company
CropMetrics LLC
Trimble Navigation Limited
CropX
AgSmarts Inc
AgSense LLC
AGCO Corporation
Dickey-John Corporation
Monsanto Company
Ag Leader Technology


Segmentation Overview

The report also presents a complete analysis of the world precision agriculture market based on technology, component, and geography. GIS, telematics, VRT, GPS, and remote sensing are some of the key technologies covered in the technology segment.

Among these, GPS is the most popular technology. The world precision agriculture market is further bifurcated into two key components: hardware and software.

Hardware includes sensors, drones, ASS, radar, GPS, and others (display, satellite, and mobiles). Software includes GIS, crop management software, weather tracking and forecasting software, inventory management software, people management software, and financial management software.

The market is further analyzed across four different geographies: North America, Europe, Asia-Pacific, and LAMEA. North America includes the U.S., Mexico, and Canada, whereas Europe covers U.K., Russia, Germany, Italy, France, and rest of Europe.

The countries covered under Asia-Pacific are Australia, China, India, Japan, South Korea, Taiwan, and rest of Asia-Pacific. LAMEA is bifurcated into Latin America, the Middle East, and Africa.



TOP FACTORS IMPACTING WORLD PRECISION AGRICULTURE MARKET

The top impacting factors of the world precision agriculture market are the growing adoption of smartphones, aggrandized use of cloud technology, booming population, technological advancement, lack of awareness, and high initial investment. Some of the factors such as lack of awareness about precision agriculture products and huge investment act as restraints for the market growth.

Growing Adoption of Smartphones

Smartphone adoption has been one of the most prominent factors in the proliferation of the precision agriculture technology. A smartphone acts as a bridge between the end user and advanced agriculture technology equipment.

Integration of smartphones with agriculture equipment and field devices delivers easy access to agriculture mobile applications, which allows farmers to monitor their fields remotely. Therefore, it helps the farmers in keeping pace with the rapidly changing demands of the consumers.

Aggrandized use of cloud technology

Cloud is a centralized, virtualized, automated, and shared infrastructure. Cloud allows storage of crop-related information, which can be further accessed by growers using smartphones.

Currently, integrated GPS is available in most of the new agriculture equipment; thus, weather conditions can also be sourced from various cloud-based applications and service providers. Therefore, inclusion of cloud technology in precision agriculture is one of the major drivers for the growth of the world precision agriculture market.



KEY BENEFITS

The report provides a comprehensive analysis of the world precision agriculture market with current trends and future growth opportunities, challenges, and competitive scenario.
The current market trends are quantitatively analyzed and estimated for the period 2015-2022, which have been provided to highlight the financial competency of the market.
Porter's five forces analysis provides inputs on the potential of buyers and suppliers and highlights the competitive structure of the market, which is likely to enable market players to devise effective growth strategies and facilitate better decision-making.
Value chain analysis provides key inputs on the role of different stakeholders involved at various stages.
SWOT analysis of the key market players highlights the essential strengths and potential opportunities in the market.

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PRECISION AGRICULTURE MARKET KEY SEGMENTS:

BY TECHNOLOGY

Geographic information system (GIS)
Telematics
Variable rate technology (VRT)
Global positioning system (GPS)
Remote Sensing

BY COMPONENT

Hardware 

Sensors
Drones
Automated Steering System
Radar
Global positioning system (GPS)
Others

Software

Geographic information system (GIS)
Crop Management Software
Weather Tracking and Forecasting Software
Inventory Management Software
People Management Software
Financial Management Software

BY GEOGRAPHY

North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

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