Source:
https://www.bloomberg.com/press-releases/2022-04-06/precision-farming-market-size-worth-20-84-billion-by-2030-grand-view-research-inc
Precision Farming Market Size Worth $20.84 Billion By 2030: Grand View
Research, Inc.
PR Newswire
SAN FRANCISCO, April 6, 2022
SAN FRANCISCO, April 6, 2022 /PRNewswire/ -- The global precision farming
market size is anticipated to reach USD 20.84 billion by 2030, registering a
CAGR of 12.8% over the forecast period, according to a new report by Grand
View Research, Inc. Precision farming, also known as site-specific crop
management or satellite farming, is a farm management concept that uses
information technology to ensure optimum health and productivity of crops.
Key Insights & Findings from the report:
* Increasing government support for adopting modern agricultural techniques
and the growing need for efficiently monitoring the health of crops are
expected to drive market growth.
* The cloud-based software model is anticipated to gain a significant share
of the market over the projected period as it reduces energy consumption
and provides storage for a large amount of data while facilitating cost
saving.
* Innovations in GPS mapping and related farming applications are enabling
farmers to operate more efficiently and increase their profit margins.
* Demand for drones is expected to grow in the agriculture field as they are
increasingly used to monitor irrigation systems.
* Yield monitoring is expected to continue leading the application segment
in terms of revenue share. It is widely used in soil monitoring since it
detects soil qualities that may be used to increase yields.
* The digital revolution in the agricultural sector, along with government
financial incentives to farms, is likely to drive demand for precision
farming in Europe in the forthcoming years.
* Asia Pacific is expected to showcase the fastest growth owing to the
availability of the largest agricultural land, which provides growth
opportunities in countries such as China, India, Australia, and Japan.
* Key players in the precision agriculture market include AgEagle Aerial
Systems Inc. (Agribotix LLC); Deere and Company; Proagrica (SST
Development Group, Inc.); Farmers Edge, Inc.; and Granular, Inc.
Read 150 page market research report, " Precision Farming Market Size, Share &
Trends Analysis Report By Offering (Hardware, Software, Services), By
Application (Yield Monitoring, Weather Tracking, Field Mapping, Crop
Scouting), By Region, And Segment Forecasts, 2022 - 2030 ", published by Grand
View Research.
Precision Farming Market Growth & Trends
The precision farming technique largely depends on specialized equipment such
as sensing devices, antennas and access points, and automation and control
systems. It also includes maintenance and managed services. The process also
incorporates a broad range of technologies such as bio-engineering, robotics
and automation, imagery and sensors, and big data.
The growing number of applications for telematics in agriculture is
anticipated to supplement the growth of the market. Telematics services
include tracking devices that deploy the Global Navigation Satellite System
(GNSS) to show the position of the equipment for management purposes. Major
agriculture equipment manufacturers are adopting telematics services for their
equipment to improve farm efficiency, thereby reducing the cost of
agricultural operations and maximizing profitability. Improved management can
also help reduce environmental impact.
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 growth of the market during the
forecast period.
Furthermore, with GPS guidance and automation advancements, drones are poised
to transform the agriculture industry in the forthcoming years. The ability of
drones to precisely analyze the soil at the beginning of the crop cycle and
detect a plant infected with bacteria or fungus is anticipated to propel the
growth of the drone segment.
However, the low rate of technology adoption among farmers is likely to hamper
market growth during the study period. This may be due to factors such as the
absence of stringent standards and limitations on the exchange of data.
Furthermore, farmers lack independent consulting and advisory services owing
to the absence of validated agronomic models for Variable Rate Technology
(VRT) to make decisions on investments. In addition, independent services are
not linked to co-operatives, government bodies, and farmer associations where
farmers can get additional information to make better decisions.
Precision Farming Market Segmentation
Grand View Research has segmented the global precision farming market based on
offering, application, and region:
Precision Farming Offering Outlook (Revenue, USD Million, 2017 - 2030)
* Hardware
* Automation & Control Systems
* Drones
* Application Control Devices
* Guidance System
* GPS
* GIS
* Remote Sensing
* Handheld
* Satellite Sensing
* Driverless Tractors
* Mobile Devices
* VRT
* Map-based
* Sensor-based
* Wireless Modules
* Bluetooth Technology
* Wi-Fi Technology
* Zigbee Technology
* RF Technology
* Sensing Devices
* Soil sensor
* Nutrient Sensor
* Moisture Sensor
* Temperature Sensor
* Water Sensor
* Climate Sensor
* Others
* Antennas & Access Points
* Software
* Web-based
* Cloud-based
* Services
* System Integration & Consulting
* Maintenance & Support
* Managed Services
* Data Services
* Analytics Services
* Farm Operation Services
* Assisted Professional Services
* Supply Chain Management Services
* Climate Information Services
Precision Farming Application Outlook (Revenue, USD Million, 2017 - 2030)
* Yield Monitoring
* On-farm
* Off-farm
* Field Mapping
* Crop Scouting
* Weather Tracking & Forecasting
* Irrigation Management
* Inventory Management
* Farm labor Management
Precision Farming Regional Outlook (Revenue, USD Million, 2017 - 2030)
* North America
* U.S.
* Canada
* Mexico
* Europe
* Germany
* U.K.
* France
* Russia
* Italy
* Asia Pacific
* China
* India
* Japan
* Australia
* Singapore
* South America
* Brazil
* Middle East & Africa
List of Key Players of the Precision Farming Market
* Ag Leader Technology
* AgJunction, Inc.
* CropMetrics LLC
* Trimble, Inc.
* AGCO Corporation
* Raven Industries Inc.
* Deere and Company
* Topcon Corporation
Check out more related studies published by Grand View Research:
* Precision Harvesting Market - The global precision harvesting market size
is estimated to reach USD 22.9 billion by 2027, registering a CAGR of 8.6%
over the forecast period, according to a new report by Grand View
Research, Inc. Precision harvesting, also known as modern agricultural
cultivation technique, includes using cameras and sensors to detect
appropriate period for cultivation for maximum crop production. This
technique helps increase crop efficiency and reduces waste by monitoring
the temperature, soil, humidity, and other environmental factors. It
includes a wide range of technologies such as robotics, automation,
sensors, imagery, and big data.
* Precision Viticulture Market - The global precision viticulture market
size is expected to reach USD 2.55 billion by 2027, registering a CAGR of
9.2% from 2020 to 2027, according to a new report by Grand View Research,
Inc. The increasing focus of farmers on ensuring farm productivity coupled
with the rising need to monitor grape quality is the key factor driving
the adoption of advanced technology solutions at vineyards. Moreover, the
demand for high-quality grapes from vine manufacturing companies is
further encouraging vineyard owners to adopt precision viticulture
technologies at vineyards.
* Supply Chain Analytics Market - The global supply chain analytics market
size is expected to reach USD 22.46 billion by 2030, registering a CAGR of
17.6% from 2022 to 2030, according to a new study by Grand View Research,
Inc. Supply chain analytics is becoming popular as the demand for managing
vast volumes of company data and its insights for strategic applications
grows. As the demand for automation technologies and investment from
technology developers grows, so does the demand for cognitive computing
and Artificial Intelligence (AI). The growing awareness among businesses
about the advantages of Supply Chain Analytics (SCA) in terms of improved
visibility across the whole supply chain is fueling the demand for
analytics solutions.
Browse through Grand View Research's Next Generation Technologies Industry
Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company,
provides syndicated as well as customized research reports and consulting
services. Registered in California and headquartered in San Francisco, the
company comprises over 425 analysts and consultants, adding more than 1200
market research reports to its vast database each year. These reports offer
in-depth analysis on 46 industries across 25 major countries worldwide. With
the help of an interactive market intelligence platform, Grand View Research
Helps Fortune 500 companies and renowned academic institutes understand the
global and regional business environment and gauge the opportunities that lie
ahead.
Contact:
Sherry JamesCorporate Sales Specialist, USAGrand View Research, Inc.Phone:
1-415-349-0058Toll Free: 1-888-202-9519Email: sales@grandviewresearch.com Web:
https://www.grandviewresearch.com Grand View Compass | Grand View Pipeline
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
Comments
Post a Comment