Market Overview

Global Precision Agriculture Market: Focus on Solution (Hardware System, Software, and Service) and Application (Irrigation, Field Monitoring, Spraying, Fertilization, Planting, and Data Management) - Analysis and Forecast, 2018-2025

Share:

Global Precision Agriculture Market: Focus on Solution (Hardware System, Software, and Service) and Application (Irrigation, Field Monitoring, Spraying, Fertilization, Planting, and Data Management) - Analysis and Forecast, 2018-2025

PR Newswire

LONDON, Sept. 4, 2018 /PRNewswire/ -- Global Precision Agriculture Market Anticipated to Reach $10.55 billion by 2025, BIS Research Report

Download the full report: https://www.reportbuyer.com/product/5492712

Over the last decade, the global agricultural industry has witnessed a massive transformation owing to the increasing demand for sustainable farming practices.Rising global population and high-income growth have resulted in growing concerns of food security across the world.

Various agricultural start-ups and technology innovators are developing numerous sustainable farming systems.With the rapid employment of precision agriculture solutions, farmers are able to enhance production yield by increasing inputs and efficient management of farm enterprises.

The advent of innovative farm management techniques has resulted in reduced energy consumption and overall cost-effective operations owing to their precise and resource-efficient approach.

The market research study offers a broad perspective of the different types of solutions and applications pertaining to precision agriculture and analyzes its impact on the farming sector by providing critical insights into the direction of its future expansion.The study provides a detailed analysis of the market ecosystem, supply chain, and regional growth for precision agriculture technologies.

The report highlights the critical driving and restraining forces for this market as well as the market opportunities in different application segments, such as irrigation, field monitoring, fertilization, spraying, planting, data management, and others, of the precision agriculture market. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.

The report answers the following questions about the global precision agriculture market:
• What is the anticipated global precision agriculture market size in terms of revenue from 2017-2025 along with the growth rate during the forecast period 2018-2025?
• What is the anticipated revenue generated by the different solutions such as hardware systems, software, and services for the precision agriculture market in the forecast period?
• What is the market size of precision agriculture solutions for different applications including irrigation, field monitoring, fertilization, spraying, planting, data management, and others?
• What is the anticipated precision agriculture market size for different regions based on various solutions and applications in the forecast period?
• What are the key trends and opportunities in the market pertaining to countries included in different geographical regions?
• How attractive is the precision agriculture market for different stakeholders present in the farming industry by analyzing the complete supply chain?
• What are the major driving forces that are expected to increase the demand for precision agriculture during the forecast period?
• What are the major challenges inhibiting the growth of the global precision agriculture market?
• What are the upcoming trends and opportunities in the market?
• What kind of new strategies is being adopted by the existing market players to expand their market position in the industry?
• What is the competitive strength of the key players in the precision agriculture market by analyzing their recent developments, product offerings, and regional presence?

The report further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry. The report also focuses on the key developments and investments made in the precision agriculture market by the players and government.

Further, the report includes an exhaustive analysis of the regional split into North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW).Each region details the individual push and pull forces in addition to the key players from that region.

AGCO Corporation, Ag Leader Technology, AgJunction, CNH Industrial, Conservis Corporation, Deere & Company, DICKEY-john, DJI Innovations, Hexagon Agriculture, Iteris Inc., Lindsay Corporation, Raven Industries, Topcon Positioning Systems, Trimble Inc., The Climate Corporation, Valmont Industries Inc., and Farmers Edge, are some of the leading players in this market.

Executive Summary
With the exponential growth of the world population, the subsequent rise in global demand for food, shrinking agricultural lands, and depletion of finite natural resources, the need to enhance farm yield has become critical.Limited availability of natural resources, such as fresh water and arable land, along with slowing yield trends in several staple crops, have further aggravated the problem.

Another looming concern over the farming industry is the shifting structure of the agricultural workforce.Moreover, agricultural labor in most of the countries has started to decline.

As a result of the declining agricultural workforce, adoption of automated solutions in farming practices has been triggered in order to reduce the need for manual labor.

To address the escalating demand for food from the limited farmlands and labor, established agriculture machinery developers and technology vendors are introducing innovative solutions to the farming arena.These solutions are focused on helping farmers close the supply-demand gap, by ensuring high yields, profitability, and protection of the environment.

The approach of using Information Technology (IT) to ensure optimum application of resources to achieve high crop yields and to reduce operational costs is called precision agriculture.Precision agriculture technologies comprise specialized equipment, software, and IT services.

Wide-scale adoption of precision agriculture technologies is expected to enhance the potential Return on Investments (ROI) to farmers.Rising awareness coupled with the increased governmental support for sustainable farming technologies are expected to propel the market growth of precision agriculture.

These solutions positively impact the agricultural value chain and create various disruptive business opportunities for companies such as agricultural machinery manufacturers, instrument developers, cloud service providers, and agri-input suppliers.

High growth in the market is expected to be driven by the need to apply site-specific farming solutions to manage raw materials and resources as per requirements effectively.Deployment of automation, control and sensing systems to steer the application of agricultural inputs is expected to augment the growth of the market.

In emerging countries, growth of the market is expected to be driven by rising awareness among governments of different countries about the need to elevate farm produce while taking care of the environment.

The precision agriculture market encompasses a wide array of solutions such as hardware systems, software, and services.Hardware systems encompass a broad range of systems including robotics & automation systems, sensing, monitoring & navigation systems, and other systems, such as displays, receivers, and handheld equipment.

Software solutions consist of software apps, tools, and cloud services that are provided by the companies on a subscription basis.The precision agriculture services include integration & deployment of farm equipment, maintenance & support, and other services such as consultancy and financial services.

Major application areas of precision agriculture technologies include irrigation, field monitoring, spraying, fertilization, planting, and data management, among others.Irrigation sector represents the largest application market for precision agriculture technologies.

During the forecast period, application areas, such as precision spraying, field monitoring, and data management, are expected to display the maximum growth, owing to the high possibilities of value addition in these segments.

The trends of the precision agriculture market vary across different geographical regions.The precision agriculture market holds a prominent share in various countries of North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW).

Presently, North America is at the forefront of the global precision agriculture market, with high market penetration rate in the U.S. Mexico and other emerging countries in the North American region, such as Cuba, Panama, Honduras, and Jamaica, among others, are expected to display robust market growth in the coming five years.

The European market for precision agriculture technologies is quite developed with major growth opportunities arising from countries in the Eastern European region.Farmers' increasing adaptability of modern technologies and the positive support from the government is also expected to augment the growth in the region.

The fastest growth is expected from the Asia-Pacific and South America region. Presence of key agricultural producing countries such as China, India, Indonesia, Brazil, and Argentina in this region is estimated to boost the market for advanced farming techniques.

Competitive Landscape

The precision agriculture market ecosystem comprises established agricultural OEMs, technology vendors, agri-input suppliers, and software & services providers.Rising interest in IoT amongst the agricultural machinery vendors, such as AGCO Corporation, Deere & Company, CLAAS, Kubota Corporation, and CNH Industrial, has been a significant trend in the market.

Moreover, players including agri-input giants, such as DuPont, Syngenta, Monsanto (acquired by Bayer in June 2018), ICL Ltd., and BASF, are also focusing on incorporating data analytics and farm management systems in their product offerings. The major precision agriculture technology vendors are Trimble Inc., Raven Industries, Topcon Positioning Systems, Hexagon Agriculture, Ag Leader Technology, and DICKEY John Corporation, among others.

The competitive landscape for the precision agriculture market demonstrates an inclination toward companies adopting strategies such as partnerships and collaborations along with new product launches to introduce new technologies or develop further on the existing product portfolio.Moreover, acquisition activities have increased in the market during the last five years.

Presently, the big four agricultural companies, namely Monsanto, DuPont, Syngenta, and BASF are constantly increasing their investment for the digitization of the farming sector, by acquiring or collaborating with the data sciences company. In May 2018, ICL Ltd. partnered with CropX, to invest and develop advanced solutions for the agricultural sector, providing farmers with advanced soil sensor technologies and cloud-based analytics. In February 2018, Syngenta completed its acquisition of FarmShots Inc., a North Carolina-based innovator of high-resolution satellite imagery, to further develop its solutions for farm management and decision-making tools.

With the increasing growth in the global market, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market. For instance, in February 2018, CNH Industrial partnered with Climate Corporation to extend and develop a portfolio of data sharing capabilities enabling farmers with real-time agronomic visualization and decision-making solutions.

Countries Covered
North America
• The U.S.
Canada
Mexico
• Rest-of-North America
Europe
Germany
• The U.K.
France
The Netherlands
Italy
Spain
Denmark
• Rest-of-Europe
Asia-Pacific (by Country)
China
Japan
Australia and New Zealand (ANZ)
India
Indonesia
Turkey
Vietnam
Malaysia
• Rest-of-Asia-Pacific
• Rest-of-the-World (RoW)
Argentina
Israel
South Africa

Download the full report: https://www.reportbuyer.com/product/5492712

About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers

For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: sarah@reportbuyer.com
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com

Cision View original content:http://www.prnewswire.com/news-releases/global-precision-agriculture-market-focus-on-solution-hardware-system-software-and-service-and-application-irrigation-field-monitoring-spraying-fertilization-planting-and-data-management---analysis-and-forecast-2018-2-300706139.html

SOURCE ReportBuyer

View Comments and Join the Discussion!