Dublin, March 09, 2022 (GLOBE NEWSWIRE) -- The "Global Precision Farming Market (2021-2026) by Application, Technology, Industry, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Precision Farming Market is estimated to be USD 8.0 Bn in 2021 and is expected to reach USD 14.61 Bn by 2026, growing at a CAGR of 12.8%.
Market Dynamics
The Global Precision Farming Market is driving because the increasing population strains the global food supply. The rising labor cost due to lack of skilled labor, adoption of mechanization in developing countries, advanced techniques improve the price, and encourage cost-saving will help drive the market's growth. Also, Precision Farming is beneficial when the resources are limited and needed for optimum crop production.
Additionally, global warming and seasonal production propelled the adoption of advanced farming technologies and created demand to increase the agricultural sector and boost the market.
Furthermore, the government also plays a vital role in driving the market, such as Favourable Regulatory Framework, Taking Initiative, Spreading Awareness, and helping farmers adopt modern tools and technologies which helps in improving production and enhanced the market growth. However, technological advancement, integrating IoT and AI technologies, Advanced Analytics are some of the other factors facilitating the adoption of Precision Farming.
Market Segmentation
- The Global Precision Farming Market is segmented further based on Application, Technology, Industry, and Geography.
- By Application Type, the market is classified into Yield Monitoring, Crop Scouting, Field Mapping, Variable Rate Application, Weather Tracking & Forecasting, Inventory Management, Farm Labour Management, Financial Management, and Others.
- By Technology Type, the Precision Farming market is classified into Guidance Technology, Remote Sensing Technology, Variable-Rate Technology.
- By Offering Type, the Precision Farming market is classified into Hardware, Software, and Services.
- By Geography, America is projected to lead the market.
Company Profiles
Some of the companies covered in this report are AGCO Corporation, AgJunction, John Deer, Raven Industries, Topcon Positioning, Trimble Navigation Limited, Hexagon Agriculture, Agsmart Pty Ltd, Buhler Industries Inc, CropX Technologies, and EXEL Industries, etc.
Countries Studied
- America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
- Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
- Middle-East and Africa (Egypt, Israel, Qatar, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
- Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Precision Farming Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Influencers
4.1 Drivers
4.1.1 Increasing Demand due to Growing Population
4.1.2 Adoption of Various Technologies
4.1.3 Government Initiative to Promote Precision Framing Techniques
4.1.4 Cost Reduction by Implementing Modern Techniques
4.2 Restraints
4.2.1 High Cost of Investment in Modern Agricultural Equipment
4.2.2 Lack of Technical Knowledge among Farmers
4.3 Opportunities
4.3.1 Smartphones Integration with Hardware and Software Devices
4.3.2 Increasing Use of Aerial Vehicles and Drones
4.3.3 Favorable Regulatory Framework
4.3.4 Growing Demand for Organic Food
4.4 Challenges
4.4.1 Data Management for Decision Making
4.4.2 Lack of Awareness among Precision Farming Industry
5 Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Precision Farming Market, By Application Type
6.1 Introduction
6.2 Yield Monitoring
6.2.1 On-Farm
6.2.2 Off-Farm
6.3 Crop Scouting
6.4 Field Mapping
6.5 Variable Rate Application
6.5.1 Precision Irrigation
6.5.2 Precision Seeding
6.5.3 Precision Fertilization
6.5.3.1 Nitrogen VRA
6.5.3.2 Phosphorous VRA
6.5.3.3 Lime VRA
6.5.4 Pesticides VRA
6.6 Weather Tracking & Forecasting
6.7 Inventory Management
6.8 Farm Labour Management
6.9 Financial Management
6.10 Others
6.10.1 Demand Forecasting
6.10.2 Customer Management
6.10.3 Payables and Receivables
6.10.4 Profit Centre
6.10.5 Analysis
6.10.6 Tax Management
7 Global Precision Farming Market, By Technology Type
7.1 Introduction
7.2 Guidance Technology
7.2.1 GPS/GNSS-Based Technology
7.2.2 GIS-Based Guidance Technology
7.3 Remote Sensing Technology
7.3.1 Handheld or Ground-Based Sensing
7.3.2 Satellite or Aerial Sensing
7.4 Variable-Rate Technology
7.4.1 Map-Based VRT
7.4.2 Sensor-Based VRT
8 Global Precision Farming Market, By Offering Type
8.1 Introduction
8.2 Hardware
8.2.1 Automation and Control Systems
8.2.1.1 Displays
8.2.1.2 Guidance and Steering Systems
8.2.1.3 GPS/GNSS Devices
8.2.1.4 Drones/UAVs
8.2.1.5 Irrigation Controllers
8.2.1.6 Handheld Mobile Devices/Handheld Computers
8.2.1.7 Flow and Application Control Devices
8.2.1.8 Others (Standalone Cameras, Small Electronic Components in the Boom Spray, and Data Loggers)
8.2.2 Sensing and Monitoring Devices
8.2.2.1 Yield Monitors
8.2.2.2 Soil Sensors
8.2.2.2.1 Moisture Sensors
8.2.2.2.2 Temperature Sensors
8.2.2.2.3 Nutrient Sensors
8.2.2.3 Water Sensors
8.2.2.4 Climate Sensors
8.3 Software
8.3.1 Local/Web-Based
8.3.2 Cloud-Based
8.4 Services
8.4.1 System Integration and Consulting Services
8.4.2 Managed Services
8.4.3 Connectivity Services
8.4.4 Assisted Professional Services
8.4.5 Maintenance and Support Services
9 Global Precision Farming Market, By Geography
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Strategic Initiatives
10.3.1 M&A and Investments
10.3.2 Partnerships and Collaborations
10.3.3 Product Developments and Improvements
11 Company Profiles
11.1 AGCO Corporation
11.2 AgEagle Aerial Systems Inc
11.3 AgJunction
11.4 AG Leaders
11.5 AgSense LLC
11.6 Agsmart Pty Ltd
11.7 Autocopter Corp
11.8 Autonomous Tractor Corporation
11.9 Buhler Industries Inc
11.10 CropMetrics LLC
11.11 CropX Technologies
11.12 Descartes Labs
11.13 Dickey-John Corporation
11.14 ec2ce
11.15 EXEL Industries
11.16 Farmers Edge Inc
11.17 Global Bayer
11.18 Granular AG
11.19 Hexagon Agriculture
11.20 Intelligent Agriculture Solutions
11.21 John Deer
11.22 Prospera Technologies
11.23 Raven Industries
11.24 Taranis
11.25 Teejet Technologies
11.26 Tetra Laval Holdings B.V
11.27 The Climate Corporation
11.28 Topcon Positioning
11.29 Trimble Navigation Limited
11.30 Vision Robotics Corporation
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/ikr4b7
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