The global Precision Agriculture Market is expected to reach USD 16.06 Billion by 2027, according to a new report by Emergen Research. Precision Agriculture is swiftly gaining popularity among farmers due to the increasing need for optimum production with the given resources. Further, the changing weather patterns due to increasing global warming have necessitated the adoption of advanced technologies to enhance productivity and crop yield. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
Another factor contributing to the growth of the market is the extensive use of drones and aircraft for precision agriculture operations. Drones have emerged as an excellent alternative to the traditional surveying & data gathering methods in agricultural operations. By using drones for crop monitoring, farm owners can significantly lower their production costs and reduce required man-hours and work-load.
The Global Precision Agriculture Market size is anticipated to reach USD 16.06 Billion in 2027, registering a CAGR of 12.7%, throughout the forecast period. Increasing usage of IoT in the agriculture sector is contributing to the growth of the precision agriculture market.The report studies the factors influencing the growth of the industry in the global market and offers accurate predictions about the growth pattern. The report covers a comprehensive analysis of the competitive landscape with a detailed analysis of the company profiles, product portfolio, and business expansion strategies.
Precision Agriculture Market Size – USD 6.19 billion in 2019, Market Growth – CAGR of 12.7%, Market trends – New product launches.
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Key participants include AG Leader Technology, Deere & Company, Trimble, AGCO Corporation, Raven Industries, AgJunction, SST Development Group, Cropmetrics, Dickey-john Corporation, Topcon Positioning Systems, among others.
The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Precision Agriculture market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Precision Agriculture market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities
Component Outlook (Revenue, USD Billion; 2017-2027)
Hardware
Automation & Control Systems
Displays
Guidance & Steering
GPS & GNSS
Drones, UAV & Cameras
Others
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The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2020-2027. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
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)
Application Outlook (Revenue, USD Billion; 2017-2027)
Yield Monitoring
Field Mapping
Crop Scouting
Weather Tracking & Forecasting
Irrigation Management
Inventory Management
Farm Labor Management
Market Taxonomy:
Chapter 1: Methodology & Scope
· Definition and forecast parameters
· Methodology and forecast parameters
· Data Sources
Chapter 2:
Executive Summary
· Business trends
· Regional trends
· Product trends
· End-use trends
Chapter 3:
Industry Insights
· Industry segmentation
· Industry landscape
· Vendor matrix
· Technological and innovation landscape
Chapter 4:
Regional Landscape
Chapter 5:
Company Profile
· Business Overview
· Financial Data
· Product Landscape
· Strategic Outlook
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The research provides answers to the following key questions:
What will be the estimated size of the PRECISION AGRICULTURE market during the forecast period 2020 to 2027? What will be the market share and growth rate of the PRECISION AGRICULTURE industry during the estimated period?
Who are prominent market players in the PRECISION AGRICULTURE market? How have they managed to stay ahead in the competition?
What are the future prospects of the industry in the coming years?
What are the key driving forces impacting the development rate of the PRECISION AGRICULTURE market across different regions?
Which factors are restricting the growth of the PRECISION AGRICULTURE market worldwide?
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