New York, US, Sept. 15, 2022 (GLOBE NEWSWIRE) --
According to a comprehensive research report by Market Research Future (MRFR), “Precision Farming Market Information: By Components and Applications - Forecast till 2030”, the market is anticipated to flourish at a 7.90% CAGR will acquire over USD 15.6 billion by the end of 2030.
Precision Farming Market Overview:
Precision farming refers to a method of farm management using information technology (IT) to guarantee that soil and crops receive precisely what they require for optimal productivity and health. The main motto of precision farming is to guarantee the protection, sustainability, and profitability of the environment. The approach retrieves real-time data regarding the ambient air, soil, and crop conditions coupled with other related information such as equipment availability, labor costs, and hyper-local weather predictions. Predictive analytics software utilizes data to offer farmers guidance regarding soil management, harvesting times, optimal planting times, and crop rotation.
Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 15.6 Billion |
| YoY Growth | 7.90% (2022-2030) |
| Key Market Opportunities | The cell phone is among the most broadly utilized mechanical creations ever With the accessibility of various easy-to-use farming apps (applications), cell phones are getting incredible Simple to-convey instruments for ranchers |
| Key Market Drivers | The use of innovations like remote detecting, VRT, GIS, GPS Direction innovation in precision farming has prompted an expansion in profitability Reduced labor overheads The utilization of forefront innovation-based horticultural gear |
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/2066
Expanding the adoption of intelligent advancements, producing interest for food, an evolving environment across the agribusiness area, and government initiatives to upgrade ranchers' competence through new developments are part of the central point boosting the acceptance of truthfulness cultivating. The appropriation form changes across several areas related to speculation and innovation, dependent upon the administration's suppliers in these regions.
Precision Farming Market USP Covered
Market Drivers
The global market of precision farming has recorded massive growth in recent years. The market's growth is credited to factors like the use of innovations, expansion in profitability, utilization of forefront innovation-based horticultural gear, and reduced labor overheads.
Market Restraints
The presence of restricted information may impede the growth of the precision farming market.
COVID-19 Impact of Precision Farming Market
The global COVID-19 pandemic has had a severe impact on the majority of the industry areas across the globe. Given the rapid spread of the disease across most regions, several governments worldwide are implementing partial or complete lockdowns to curb the spread of the disease. Like any other market area, the global market for precision farming also witnessed several unexpected challenges. Considering the travel restrictions imposed worldwide, several industry sectors faced significant disruptions in the supply chain networks. The global precision farming market witnessed a significant revenue loss during the pandemic period. The global health crisis not only impacted public health but also affected the global economy as well. It made about intrusions in the store network and triggered a shortage of gear; anyway, the use of remote detecting and smallholding the board programming instruments could generate higher selection during the post-COVID-19 period. The pandemic has disrupted the store network in the rightness cultivating business sector, and companies are examining new freedoms to collaborate with ranchers and producers using advances.
Browse In-depth Market Research Report (110 Pages) on Precision Farming Market:
https://www.marketresearchfuture.com/reports/precision-farming-market-2066
Companies have started zeroing in on different remote stages to strengthen consistent dynamics related to yield checking, water system booking, crop wellbeing observing, gathering the board, and field planning. For instance, SensoTerra shipped new remote frameworks in May 2020 to boost field information examination and ranch availability on the cloud. The sensor frameworks enhance availability and can similarly be used for crops with massive ledges with the minimum manual help. Producers can access information consistently by utilizing an application or an electronic interface introduced on their cell phones. The impact of the global pandemic is needed for a more restricted length, and the precision farming market depends on rewarding growth in the medium to the long haul.
Precision Farming Market Segment Analysis
Based on the offerings, the hardware segment will likely dominate the global precision farming market over the assessment timeframe. The segment is further fragmented into sensing, control systems and monitoring, and automation devices. Automation and control systems like variable-rate technology (VRT) devices, guidance and steering devices, and GPS receivers are likely to contribute the most significant to the net precision farming market share over the review timeframe because of their utilization in precision farming. The segment's growth is credited to the high adoption of automation and control devices like sensors, yield monitors, irrigation controllers, drones/UAVs, guidance & steering systems, and GPS/GNSS in the agriculture industry.
Based on the technology, the variable rate technology is likely to dominate the global market for precision farming over the assessment timeframe. The segment's growth is credited to farmers' early adoption of this technology. Furthermore, the growing demand for global GPS-based auto-guidance technology is projected to boost the segment's growth over the forecasted era.
Ask for Discount:
https://www.marketresearchfuture.com/check-discount/2066
Among all the application areas, the yield monitoring segment is projected to dominate the global precision farming market over the coming years. These systems' advantages allow farmers to effectively address climate-related disasters and boost food security and decision-making in agriculture.
Precision Farming Market Regional Analysis
The global market for precision farming is analysed across five major regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
According to the analysis reports by MRFR, the North American region is anticipated to dominate the global market for precision farming over the review timeframe. The early adoption of advanced technologies is the primary aspect causing an upsurge in the regional market's growth. Furthermore, factors such as growing government activities for appropriating created frameworks and agribusiness innovations are also projected to influence the regional market's growth over the coming years.
The precision farming market for the Asia-Pacific region is projected to record substantial growth over the review timeframe. Several government initiatives are boosting the growth of the regional market.
Ask To Expert:
https://www.marketresearchfuture.com/ask_for_schedule_call/2066
Competitive Analysis
The list of leading players across the global market for precision farming includes companies such as:
- DICKEY-john Corporation
- TeeJet Technologies
- Ag Junction Inc.
- John Deere
- AGCO Corporation
Related Reports:
IoT Sensor Market, By Component, By Type, By Network Technology and By Vertical - Forecast 2027
Perimeter Intrusion Detection Systems Market Information By Components, Deployment Type and Verticals - Forecast Till 2027
Optical Fingerprint Sensor Market, by Component, Technology and Application - Forecast till 2027
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
