Market Size – USD 6.98 Billion in 2021, Market Growth – at a CAGR of 12.9%, Market Trends – Rising popularity of variable rate, remote sensing, and guiding technologies for precision agriculture
Emergen Research’s latest market research report focuses on the global Precision Agriculture market, and the report provides in-depth analysis of each of its major segments. Reports about the global Precision Agriculture market provide a comprehensive overview of the market, including market size, revenue growth rate, industry statistics, revenue shares among regional markets, gross profits, production costs, and product portfolios Precision Agriculture industry projections and qualitative and quantitative assessments have been provided by the report's authors.
The global precision agriculture market size reached USD 6.98 Billion in 2021 and is expected to register a revenue CAGR of 12.9% during the forecast period, according to latest analysis by Emergen Research. Increasing use of advanced agricultural techniques and smartphones are major factors expected to drive market revenue growth between 2022 and 2030. Additionally, growing usage of variable rate, remote sensing, and guiding technology in precision agriculture will drive market revenue growth. Precision agriculture technologies including Variable Rate Technology (VRT), remote sensing, Global Positioning System (GPS), Geographical Information System (GIS), and guiding technology have enhanced output while lowering laborexpenses. Moreover, development of cutting-edge technology-based farming machinery has facilitated most efficient use of resources. Precision farming technology based on modern technology not only contributes to bottom-line savings by cutting labor costs but also significantly improves agricultural operations. Weeding, fertilizerapplication, and site management are tasks performed before harvesting that account for 50–70% of farm operating costs. Drones equipped with cameras are used in precision agriculture for spraying, weeding, pruning, and harvesting. These drones generate hyperspectral pictures, allowing farmers to monitor field activity.
The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
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The SWOT analysis and Porter’s Five Forces Analysis are some of the most important components of this report that provide insight into the highly competitive environment of the industry. A detailed analysis of the global Precision Agriculture market is presented in the report, including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Aside from revenue growth drivers & restraints, production & consumption patterns, changing consumer preferences, and stringent regulatory standards, this report also examines other key aspects of regional markets.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Precision Agriculture market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Companies Profiled in the Report are:
AG Leader Technology, Deere & Company, Trimble, AGCO Corporation, Raven Industries, AgJunction, SST Development Group, Cropmetrics, Dickey-john Corporation, Topcon Positioning Systems.
Research Report on the Precision Agriculture Market Addresses the Following Key Questions:
- Who are the dominant players of the Precision Agriculture market?
- Which regional market is anticipated to have a high growth rate over the projected period?
- What consumer trends and demands are expected to influence the operations of the market players in the Precision Agriculture market?
- What are the key growth drivers and restraining factors of the Precision Agriculture market?
- What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
- What is the overall impact of the COVID-19 pandemic on the Precision Agriculture market and its key segments?
Regional Landscape section of the Precision Agriculture report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Scope: The report explains the scope of various commercial possibilities in the global Precision Agriculture market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Precision Agriculture market expected to boost the growth of the industry in the coming years.
Precision Agriculture Market Segmentation:
-
Component Outlook (Revenue, USD Billion; 2017-2027)
- Hardware
- Automation & Control Systems
- Displays
- Guidance & Steering
- GPS & GNSS
- Drones, UAV & Cameras
- Others
- Sensing and Monitoring Device
- Yield Monitors
- Soil Sensors
- Water Sensors
- Climate Sensors
- Automation & Control Systems
- Hardware
-
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
- Others
The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.
Key reasons to buy the Global Precision Agriculture Market report:
- The latest report comprehensively studies the global Precision Agriculture market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products & services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
To know more about the report @ https://www.emergenresearch.com/industry-report/precision-agriculture-market
Thank you for reading our report. Please get in touch with us if you have any query regarding the report or its customization. Our team will ensure the report is best suited to your needs.
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