The Asia Pacific precision farming market will witness a growth rate of over 20% during the forecast period. The factors augmenting the market growth are increasing the awareness about the precision farming technologies and several initiatives taken by the government to improve sustainable agriculture. For instance, in June 2017, the state government of Haryana in India adopted climate-smart agricultural practices to transform the agricultural systems. This also enabled the regulatory bodies to achieve three objectives such as adapting to climate changes, achieving agricultural productivity, and reducing greenhouse gas emissions. The rising adoption of drones and UAVs for capturing crop-related data is also leading to precision farming market growth. For example, in March 2019, the Agriculture Ministry of Japan promoted the use of drones in the agriculture sector. This will help in increasing productivity and improving crop health by closely monitoring the crop condition.
Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/227
Apart from government initiatives, numerous major US based precision farming market players have been releasing cutting edge products to retain their preeminence in this highly combative business space. For instance, Illinois headquartered Precision Planting recently launched a total of 3 new products in the precision farming market. The firm has released a 20|20 monitor which offers an advanced agronomic picture which enables farmers to optimize planting and harvest decisions with a smart interface. The second product is named as SeederForce, which is a progression automated downforce control system utilized in the air-seeder market. The third product on the list is a multi-hybrid planting system that allows for two hybrids to be planted in a single field by deploying a meter with a seed selector and a dual compartment hopper.
One of the chief federal agencies of US Department of Agriculture, the National Institute of Food and Agriculture (NIFA), has unveiled a precision, geospatial, and sensor technology program to deliver decision tools that would enhance management capabilities of enterprises partaking in precision farming market. The program would reportedly address problems such as narrow profit margins and rising global competition in the farming sector. Furthermore, the initiative intends to judiciously monitor, measure, and micromanage the existing resources to accentuate efficiency and increase farm incomes of the producers, processors, and the overall farming community. Therefore, it is quite undeniable that the remedial measures undertaken by the government would revive the fortunes of the US precision farming market in the forthcoming years.
Citing an instance affirming the efficacy of technology deployment is the participation of Israel based precision farming market giant Evogene in a consortium sponsored by Israel Innovation Authority. As has been reported, the consortium consists of a dozen precision farming market players and universities which would aim to develop plant phenotyping technologies by deploying comprehensive artificial intelligence algorithms and big data. The real-time analysis of this data is likely to assist farmers in dealing efficiently with unpredictable crop season and enhance systems and tools for precision agriculture.
Speaking of the prospective growth of the precision farming market, US is likely to emerge as the strongest contender due to its swift adoption of progressive technologies in the farming sector. The well-developed infrastructure and presence of supportive government policies would further assist in rapid product penetration in the nation.
In the precision farming services market, the managed services segment is expected to exhibit a growth rate of over 27% from 2019 to 2025. The market growth is attributed to the rising applications of IoT and cloud computing in precision farming solutions. The agriculture decision support systems are being increasingly hosted on cloud platforms to take advantage of the IoT through internet-connected devices. For enabling improved security and availability, the demand for managed services has to increase to efficiently handle the complexity of running hardware and maintaining different types of middleware.
Browse key industry insights spread across 375 pages with 412 market data tables & 31 figures & charts from the report, “Precision Farming Market” in detail along with the table of contents @
In order to tackle these massive impediments, the farming community across the world is now gradually incorporating numerous advanced precision tools in their farmlands to accomplish various objectives such as greater sustainability, realize higher financial benefits, and to lower environmental harm. Apparently, as a consequence of the aforementioned aspects, the overall precision farming market size is bound to record commendable growth in the forthcoming years. In fact, as per the statistics noted in the recent study conducted by Global Market Insights, Inc., precision farming market is estimated to register a striking double-digit growth rate over 2019-2025.
Elaborating further, it is quite prudent to mention that the foremost stakeholders of the precision farming market have been focused on leveraging the prowess of advanced technologies such as big data and IoT. These technologies have proved to be of immense help to obtain precise insights of farming situations which would further aid in better forecasts about agricultural outcomes.
Table of content for this research report:
Chapter 5 Precision Farming Market, By Component
5.1 Key trends, by component
5.2.1 Hardware market size, 2014-2025
22.214.171.124 Sensors market size, 2014-2025
5.2.3 Automated steering systems
126.96.36.199 Automated steering systems market size, 2014-2025
5.2.4 Drones, UAV, and cameras
188.8.131.52 Drones, UAV, and cameras market size, 2014-2025
5.2.5 Mobile devices
184.108.40.206 Mobile devices market size, 2014-2025
5.2.6 GPS and GNSS
220.127.116.11 GPS and GNSS market size, 2014-2025
18.104.22.168 Others market size, 2014-2025
5.3.1 Software market size, 2014-2025
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/precision-farming-market
Despite management of data being one of the major hindrances to the growth of this business space, the application matrix of the precision farming market has encompassed weather monitoring, financial management, field monitoring, waste management, yield monitoring, irrigation management. As the application scope of precision tools increases in the ensuing years, the precision farming market is projected to observe an exponential growth rate, with a target revenue estimation in excess of USD 12 billion by 2025.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Email: [email protected]