The global precision agriculture market got higher traction as is it offers optimum production with already present resources. The technology facilitates farmers to handle their sources as well as access real time information with help of smartphones, thereby catering greater mobility and ease of operation. However, the market growth may hamper due to lack of awareness about the advantage of precision agriculture among farmers, especially in the developing nations.
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The global precision agriculture market encompasses diverse range of solutions such as software, hardware systems and services. Under the category hardware systems, there is broad range of systems which includes sensing, monitoring & navigation systems, robotics & automation systems, and other systems, like receivers, displays, and handheld equipment.
For ensuring successful implementation, government need to create programs which needs to be inclusive of design, training, and maintenance. Along with that, effective administrative framework that connects micro-irrigation companies, the government, farmers and banks. The Canadian government invested heavily in Clean Seed Capital Group to commercialize and enhance precision agriculture technology. With help of these funds, the organization managed to develop CX-6 SMART Seeder for farmers.
2016, North America dominated the market in terms of revenue. The modern agricultural technology demands government assistance as the agricultural sector consists of poor self-sustaining farmers. The implementation of modern technologies requires appropriate cultural background, good infrastructure, installation support services and equipment that is not capital-intensive.
Whereas software solutions comprise of tools, cloud services and software apps that are offered by the organizations on a subscription basis. Furthermore, the precision agriculture services includes maintenance & support, integration & deployment of farm equipment and other services like financial and consultancy services. Major applications of precision agriculture technologies are spraying, fertilization, irrigation, and field monitoring, planting, and data management. The largest application market is irrigation sector. Application areas such as field monitoring, precision spraying and data management are anticipated to exhibit the optimum growth owing to the high possibilities of value addition in these segments
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“Among these advanced technologies, one such technology is nanotechnology. Nanotechnology provides various benefits to agriculture. Nanocapsules can be used to deliver pesticides, fertilizers, growth hormones, and other enzymes. Nanosensors are used to monitor soil conditions, crop growth, and to detect animal and plant pathogens. In addition, Nano chips and Nanoparticles are also being used in the agricultural industry,” stated a senior analyst at giant research institute.
The global precision agriculture industry ecosystem consists established agricultural OEMs, agri-input suppliers, technology vendors, and software & services providers. Agricultural machinery vendors growing interest in IoT has set a major trend in the market, the leading vendors include Deere & Company, Kubota Corporation, AGCO Corporation, CLAAS, and CNH Industrial. Moreover, prominent players of the market are ICL Ltd., Syngenta, DuPont, Monsanto and BASF are emphasizing on incorporation of farm management systems and data analytics in their product offerings. The key precision agriculture technology vendors include Raven Industries, Trimble Inc., Topcon Positioning Systems, Ag Leader Technology, Hexagon Agriculture, and DICKEY John Corporation, among others.
Key segments of ‘Global Precision Agriculture Market’
Based on application, the market has been segmented into,
Weather Tracking & Forecasting
Farm Labor Management
Based on technology, the market has been segmented into,
Based on region, the market has been segmented into,
What to expect from the upcoming report on ‘Global Precision Agriculture Market’:
– Future prospects and current trends of the global precision agriculture market by the end of forecast period (2018-2025)
– Information regarding technological progressions as well as innovations taking place in developing economies
– Supportive initiatives by government likely to influence the market dynamics
– Trends, drivers, opportunities, restraints, challenges and key developments in the market
– In-depth analysis of different market segmentations including regional segmentations, and product types
– Deep analysis about the competitive landscape of the market and the initiatives by them to improve this market
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