The global Precision Agriculture Market is expected to reach USD 16.06 Billion by 2027, according to a new report by Emergen Research. Precision Agriculture is swiftly gaining popularity among farmers due to the increasing need for optimum production with the given resources. Further, the changing weather patterns due to increasing global warming have necessitated the adoption of advanced technologies to enhance productivity and crop yield.
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Key Market Competitors
The global Precision Agriculture industry is widely fragmented due to the presence of numerous competitors across several regional and local segments of the market. These players are said to dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies operating in this market are in high competition with one another in terms of technological capabilities, product development and innovation, and product pricing strategies.
Leading Market Players Profiled in the Report:
AG Leader Technology, Deere & Company, Trimble, AGCO Corporation, Raven Industries, AgJunction, SST Development Group, Cropmetrics, Dickey-john Corporation, Topcon Positioning Systems, among others.
Key Highlights From The Report
- Weather tracking applications in the precision agriculture market is projected to grow at a significant CAGR during the forecast period. As the agricultural sector is vulnerable to disruptive weather events, the demand for actionable & timely information increases. The real-time data regarding weather conditions help farmers to increase their yield and reduce costs while minimizing crop damage risks.
- Yield monitoring is the most widely used application in precision agriculture as it plays a vital role in understanding field variability and helps farmers in maximizing their farm yields.
- The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, growing at a CAGR of 12.8%. The presence of countries with the largest population, rising demands for food products, and the need to enhance farm output drive the demand for precision agriculture techniques in the region.
For the purpose of this report, Emergen Research has segmented into the global Precision Agriculture Market on the basis of component, technology, application, and region:
- Component Outlook (Revenue, USD Billion; 2017-2027)
- Automation & Control Systems
- Guidance & Steering
- GPS & GNSS
- Drones, UAV & Cameras
- Sensing and Monitoring Device
- Yield Monitors
- Soil Sensors
- Water Sensors
- Climate Sensors
- Automation & Control Systems
- Consulting & training
- Maintenance & update
- Managed Service
- Other Services
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Guidance Technology
- Remote Sensing
- Variable-Rate Technology
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking & Forecasting
- Irrigation Management
- Inventory Management
- Farm Labor Management
- Financial Management
Regions Covered in This Report:
- North America(U.S., Mexico, and Canada)
- Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
- Europe(U.K., Germany, France, and Rest of Europe)
- Latin America(Brazil and Rest of Latin America)
- Middle East & Africa(GCC Countries and Rest of Middle East & Africa)
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Key Factors influencing market remuneration:
- The global Precision Agriculture market report includes a detailed study of the product spectrum of the market and further describes the different product types, including One-sided, Two-sided, and Others.
- The report zeroes in on the overall market dynamics and presents information with regard to the producers and distributors, manufacturing cost structure, and downstream buyers.
- Details pertaining to the expected growth rate, industry share, revenue accumulated, and product segmentation are depicted in this report.
- The application landscape of the global Precision Agriculture market can be categorized into For Human, For Animals, and Others.
- The study further examines the industry share and product demand of each application, coupled with the predicted growth patterns of the various application segments.
- Other vital factors, such as market concentration ratio and raw material processing rate, have also been covered under the latest study.
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Precision Agriculture Market Segmentation & Impact Analysis
4.1. Precision Agriculture Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Growing demands for more food products to feed the ever increasing population
126.96.36.199. Optimized operations and cost cutting offered by Precision Agriculture/Agriculture
188.8.131.52. Urge to adopt modern agricultural techniques to boost production
4.2.3. Market restraints analysis
184.108.40.206. High investment in R&D
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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