Dublin, July 13, 2022 (GLOBE NEWSWIRE) -- The "Asia Pacific Precision Farming Market Size, Share & Industry Trends Analysis Report By Technology, By Offering, By Application, By Country and Growth Forecast, 2021-2027" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific Precision Farming Market is expected to witness market growth of 7.9% CAGR during the forecast period (2021 2027).
Many technologies like IoT, GPS, and remote sensing application control are employed to gain a thorough grasp of various farming features such as irrigation and ploughing. Farmers can use the Internet of Things (IoT) to help them overcome various crop monitoring challenges. It uses agricultural sensors to provide real-time data on the environmental temperature and soil water content, allowing farmers to make better decisions about harvesting times, crop market rates, and soil management.
Crop production is limited by a number of factors, including the depletion of natural resources and environmental degradation. As environmental concerns develop, farmers are changing their emphasis to sustainable agriculture practices like natural resource preservation. This has increased the demand for improved crop nutrition and protection, which has boosted the precision farming business. Vertical farms with smart designs to increase harvests and prevent waste, for example, have helped the market to grow further.
In emerging nations like India, Sri Lanka, and others, numerous government projects are underway to stimulate the adoption of sophisticated precision farming methods, hence increasing production. In September 2017, China and Israel inked a $300 million trade agreement to boost the sale of environmentally friendly Israeli technologies to China. In addition, Farmers can also get appropriate knowledge about the proper usage and maintenance of precision agricultural equipment thanks to an effective administrative structure.
Due to strong economic growth and continued development in the agriculture sector, Asia-Pacific is expected to be a promising market for global players, driving companies to invest extensively in the precision farming market to sustain growth and enhance productivity. Moreover, factors such as the big shift toward digital transformation, the rise in cloud deployment, technical improvement among farming operations, and the ongoing modernization of the agriculture sector fuel considerable investment in emerging countries.
The China market dominated the Asia Pacific Precision Farming Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $800.6 million by 2027. The Japan market is anticipated to grow at a CAGR of 7.2% during (2021 - 2027). Additionally, The India market is expected to experience a CAGR of 8.5% during (2021 - 2027).
Scope of the Study
Market Segments Covered in the Report:
By Technology
- Guidance Technology
- Remote Sensing Technology
- Variable Rate Technology
By Offering
- Hardware
- Automation & Control Systems
- Sensing & Monitoring Devices
- Software
- Local/Web-based
- Cloud-based
- Services
By Application
- Yield Monitoring
- Field Mapping
- Weather Tracking & Forecasting
- Variable Rate Application
- Crop Scouting
- Inventory Management
- Farm Labor Management
- Financial Management
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
- Trimble, Inc.
- CNH Industrial N.V.
- AgEagle Aerial Systems, Inc.
- Topcon Corporation (Topcon Positioning Systems, Inc.)
- Hexagon AB (Hexagon Agriculture)
- CropX, Inc.
- CropIn Technology Solutions Private Limited
- Telus International, Inc.
- Deere & Company
- AGCO Corporation
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Publisher Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2017-2021)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements : 2018, May - 2022, Feb) Leading Players
Chapter 4. Asia Pacific Precision Farming Market by Technology
Chapter 5. Asia Pacific Precision Farming Market by Offering
Chapter 6. Asia Pacific Precision Farming Market by Application
Chapter 7. Asia Pacific Precision Farming Market by Country
Chapter 8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/48zxmi
