San Francisco, 15 February 2019: The Report 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.
Access
Research Report of Precision Farming Market @ www.grandviewresearch.com/industry-analysis/precision-farming-market
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
·
Software
·
Services
Precision Farming/Agriculture Application
Outlook (Revenue, USD Million, 2014 - 2025)
·
Yield
monitoring
·
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
·
Europe
·
Asia
Pacific
·
South
America
·
Middle East and Africa
(MEA)
Access Press Release of Precision Farming Market@ www.grandviewresearch.com/press-release/global-precision-farming-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment