New York, United States , Aug. 22, 2024 (GLOBE NEWSWIRE) -- The Global Precision Viticulture Market Size is to Grow from USD 1.58 Billion in 2023 to USD 4.29 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 10.50% during the projected period.
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Precision viticulture is a cycle management approach to field operations based on information and technology solutions to enhance production processes. It makes use of multiple vineyard-related data sources to facilitate decision-making tailored to individual sites. Precision viticulture (PV) focuses on a range of information technologies for understanding variability in their production systems and for quantifying and mapping variability within vineyards (site-specific management) to tailor management to the actual demands of each part of the field. Robotics, the global navigation satellite system (GNSS), weather or soil proximate sensors (ground or aerial), satellite, aircraft, or drone-UAV remote sensing, and geographical information systems (GIS) are just a few of the many techniques that can be utilized. Furthermore, precision viticulture aims to maximize the oenological potential of vineyards. This is especially true in areas where the high standards of wine production justify the use of site-specific management strategies to simultaneously boost quality and yield. Vineyards might reduce their ecological footprint and increase quality and output by using cutting-edge technology to make management easier. Achieving greater quality standards in the vineyard becomes essential in light of the intensifying competitiveness in global marketplaces. Furthermore, there is a great deal of opportunity for developing optimum solutions for dispersed information for precision viticulture given the rapid evolution of geographical science and information communication technology. This has led to a radical renewal of viticulture and a review of agricultural techniques to maximize quality and sustainability through the reduction and more efficient use of production inputs such as energy, fertilizers, and chemicals, as well as to minimize input costs while ensuring environmental preservation. However, for many vineyard owners, particularly small producers, the cost of implementing precision viticulture technologies might be prohibitive. Equipment for precision farming, sensors, data analytics, drones, and sensors all have high upfront costs.
Browse key industry insights spread across 210 pages with 116 Market data tables and figures & charts from the report on the "Global Precision Viticulture Market Size, Share, and COVID-19 Impact Analysis, By Components (Software, Hardware, and Services), By Application (Irrigation Management, Yield Monitoring, Weather Tracking & Forecasting, Inventory Management Crop Scouting, Field Mapping, Farm Labor Management, and Financial Management), By Technology (Guidance Systems, Variable Rate Technology, and Remote Sensing), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The hardware segment is anticipated to hold the greatest share of the global precision viticulture market during the projected timeframe.
Based on the components, the global precision viticulture market is divided into software, hardware, and services. Among these, the hardware segment is anticipated to hold the greatest share of the global precision viticulture market during the projected timeframe. The farmers utilize these instruments to maintain an eye on and oversee the vineyard constantly. Furthermore, the increasing application of Geographic Information Systems (GIS) for field research and visualization, vineyard placement, and crop positioning has had a substantial impact on market demand.
The yield monitoring segment is expected to grow at the fastest pace in the global precision viticulture market during the projected timeframe.
Based on the applications, the global precision viticulture market is divided into irrigation management, yield monitoring, weather tracking & forecasting, inventory management crop scouting, field mapping, farm labor management, and financial management. Among these, the yield monitoring segment is expected to grow at the fastest pace in the global precision viticulture market during the projected timeframe. Due to the yield monitors contribute very little to the cost of harvesting. Many yield-monitoring techniques have been developed to monitor yield. The sonic beam system uses ultrasonic sensors to monitor the volume of grapes flowing along the discharge conveyor.
The guidance systems segment is predicted for the largest revenue share in the precision viticulture market during the estimated period.
Based on the technology, the global precision viticulture market is divided into guidance systems, variable rate technology, and remote sensing. Among these, the guidance systems segment is predicted for the largest revenue share in the precision viticulture market during the estimated period. Due to the growing applications and noteworthy developments in remote sensing, variable rate technology (VRT), and guidance systems, the market for precision viticulture is growing. Guidance systems, which use GPS technology to give precise mapping and navigation within vineyards, optimize the performance of tractors and other gear.
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Europe is expected to hold the largest share of the global precision viticulture market over the forecast period.
Europe is expected to hold the largest share of the global precision viticulture market over the forecast period. Investments in precision viticulture technologies by European vineyards have been stimulated by programs such as research grants, technological adoption subsidies, and joint project funding. Some of the top universities, research centers, and viticulture and oenology-focused agricultural organizations in the world are located in this region.
Asia Pacific is predicted to grow at the fastest pace in the global precision viticulture market during the projected timeframe. Several developing wine-producing regions, including Australia, New Zealand, China, India, and Japan, are located in Asia Pacific. To grow their wine industries, these nations are investing more in viticulture infrastructure and precision farming techniques. Governments around the Asia-Pacific area are beginning to understand the value of rural development and agriculture, particularly in the wine sector. Many governments promote the use of precision viticulture techniques by providing funding, subsidies, and support initiatives.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Precision Viticulture Market include Deveron UAS, Trimble Inc., John Deere, Topcon Positioning Systems, AgJunction, TeeJet Technologies, Syngenta, Raven Industries, Ag Leader Technology, PrecisionHawk, Gamaya, Vindara, VineView, Hortau, OnFarm., and Others.
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Recent Developments
- In July 2024, VineView introduced the PinPoint RTK, a GPS receiver that provides vineyard managers with incredibly accurate data collection tools. The PinPoint RTK uses Real-Time Kinematic (RTK) technology, which increases its precision from 2 to 5 cm. This is far more accurate than traditional GPS receivers, which typically have an accuracy of 2-4 meters.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Precision Viticulture Market based on the below-mentioned segments:
Global Precision Viticulture Market, By Component
- Software
- Hardware
- Services
Global Precision Viticulture Market, By Application
- Irrigation Management
- Yield Monitoring
- Weather Tracking & Forecasting
- Inventory Management Crop Scouting
- Field Mapping
- Farm Labor Management
- Financial Management
Global Precision Viticulture Market, By Technology
- Guidance Systems
- Variable Rate Technology
- Remote Sensing
Global Precision Viticulture Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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Global Precision Viticulture Market Size, Share, and COVID-19 Impact Analysis, By Components (Software, Hardware, and Services), By Application (Irrigation Management, Yield Monitoring, Weather Tracking & Forecasting, Inventory Management Crop Scouting, Field Mapping, Farm Labor Management, and Financial Management), By Technology (Guidance Systems, Variable Rate Technology, and Remote Sensing), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033
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