San Francisco, 11 February, Precision Farming/Agriculture Market Size,
Share & Trends Analysis Report By Offering (Hardware, Software, Services),
By Application (Yield Monitoring, Field Mapping, Crop Scouting), And Segment
Forecasts, 2018 – 2025.
The global precision farming market is anticipated to reach
USD 10.23 billion by 2025, according to a new report by Grand View Research,
Inc. Precision farming, also known as site-specific crop management or
satellite farming, is a concept of farm management that uses information technology
to ensure optimum health and productivity of the crops. The precision farming
technique largely depends on specialized equipment, IT, and software services.
Furthermore, this farming technique involves a broad range of technologies
including bio-engineering, robotics & automation, imagery & sensors,
and big data, as well as digitization. The adoption of site-specific crop
management would reduce the cost of nitrogen fertilizers, improve crop yields,
reduce the usage of pesticides, provide better farm records that are essential
for sale, and provide better information for management decisions.
The growing application of
telematics in agriculture is anticipated to drive the demand for precision
farming over the projected period. Telematics services include tracking devices
using Global Navigation Satellite System (GNSS) to show the position of the
equipment for management purposes. It also offers a real-time view of the
position, coolant temperature, ground speed, and the duration before which
maintenance is required. Major agriculture equipment manufacturers are adopting
telematics services for their equipment in order to improve farm efficiency.
Improving the efficiency of
agricultural machinery reduces the cost of agricultural operations and
maximizes profitability. Additionally, good management might reduce the
environmental impact. Farmers are increasingly using telematics technology to
collect and manage information from their field equipment.
Telematics technology is used
to capture and transfer data from the farm equipment through sensors installed
on tractors and other field monitoring equipment. The increasing adoption of
telematics systems by agricultural equipment companies is expected to drive the
demand in the precision farming market.
Trimble Ag Software’s Connected
Farm uses cellular and wireless technology to transfer data. Furthermore, the
company uses Farm Works software to manage data transferred from the farm
equipment. Raven Industries, Inc. provides a telematics service called
Slingshot. It uses cell phone networks to offer data transfer, real-time
kinematic GPS correction signals, and real-time technical support in the
fields. Additionally, Slingshot allows users to track the vehicle’s location.
However, the lack of technology
adoption among farmers is likely to restrain the market growth over the
forecast period. The lack of standards and limitations on the exchange of data
between the systems limits the adoption of modern agricultural machinery of
different brands and companies. Furthermore, farmers lack independent
consulting and advisory services owing to the lack of validated agronomic
models for Variable Rate Technology (VRT) to make a decision on investments.
Additionally, independent services are not linked to co-operatives, government
bodies, and farmer’s associations where farmers can get additional information
to take decisions.
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Report On Precision Farming/Agriculture Market Analysis:
Further key findings from the report suggest:
·
The increasing government
support for adopting modern agricultural techniques and the growing need for
monitoring crop health for yield production are expected to drive the market
demand.
·
The services segment is
expected to portray a significant growth rate over the projected period,
growing at a CAGR of 16.0%.
·
The cloud-based software model
is anticipated to gain market share over the projected period as it reduces
energy consumption and large data storage, and facilitates cost saving.
·
Innovations in GPS mapping and
related applications concerning farms are helping farmers to operate more
efficiently and increase their profit margins.
·
Drones are expected to witness
enormous growth in the agriculture field as they are increasingly used in
monitoring irrigation systems.
·
Soil monitoring is a major
application of the yield monitoring segment as it is used to detect soil
properties to increase the yield.
·
Digital revolution in the
agricultural sector along with government financial incentives to farms is
likely to drive the demand in the European precision farming market in the
coming years.
·
The key players of the
precision farming market include Agribotix LLC (U.S.), Deere & Company
(U.S.), SST Development Group, Inc. (U.S.), Farmers Edge, Inc. (Canada), and
Granular, Inc. (U.S.), among others
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the
precision farming market based on offering, application, and region:
Precision Farming/Agriculture
Offering Outlook (Revenue, USD Million, 2014 - 2025)
·
Hardware
o
Automation & control
systems
o Drones
o Application control devices
o Guidance systems
o GPS
o GIS
o Remote sensing
o Handheld
o Satellite sensing
o Driverless tractors
o Mobile devices
o VRT
o Map-based
o Sensor-based
o Wireless modules
o Bluetooth technology
o Wi-Fi technology
o Zigbee technology
o RF technology
o
Sensing devices
o Soil sensor
o Nutrient sensor
o Moisture sensor
o Temperature sensor
o Water sensors
o Climate sensors
o Others
o
Antennas/access points
·
Software
o
Web-based
o
Cloud-based
·
Services
o
System integration & consulting
o
Maintenance & support
o
Managed services
o Data services
o Analytic services
o Farm operation services
o
Assisted professional services
o Supply chain management services
o Climate information services
Precision Farming/Agriculture
Application Outlook (Revenue, USD Million, 2014 - 2025)
·
Yield monitoring
o
On-farm
o
Off-farm
·
Field mapping
·
Crop scouting
·
Weather tracking &
forecasting
·
Irrigation management
·
Inventory management
·
Farm labor management
Precision Farming/Agriculture
Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
o
France
o
Russia
·
Asia Pacific
o
China
o
Japan
o
India
o
Australia
·
South America
o
Brazil
·
Middle East and Africa
(MEA)
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Press Release of this Report: www.grandviewresearch.com/press-release/global-precision-farming-market
About Grand
View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
For more information: www.grandviewresearch.com/
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