The global Precision Farming market size is expected to be worth around US$ 12.10 billion by 2028, according to a new report by Vision Research Reports.
The global Precision Farming market size was valued at US$ 4.9 billion in 2020 and is anticipated to grow at a CAGR of 13.02% during forecast period 2021 to 2028.
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Growth Factors
The growing number of applications for telematics in agriculture is anticipated to drive demand for precision farming over the projected period. Telematics services include tracking devices using the Global Navigation Satellite System (GNSS) to show the position of the equipment for management purposes. Major manufacturers of agriculture equipment are adopting telematics services for their equipment to improve farm efficiency, thereby reducing the cost of agricultural operations and maximizing profitability. Additionally, improved management can help reduce environmental impact. Telematics technology is used to capture and transfer data from the farm equipment through sensors installed on tractors and other field monitoring equipment. The increasing adoption of telematics systems by agricultural equipment companies is expected to drive the precision agriculture market.
Key Players
Ag Leader Technology (U.S.); AgJunction, Inc. (U.S.); CropMetrics LLC (U.S.); Trimble, Inc. (U.S.); AGCO Corporation (U.S.); Raven Industries Inc. (U.S.)
Market Segmentation
- Offering Outlook
- Hardware
- Automation & Control Systems
- Drones
- Application Control Devices
- Guidance System
- Remote Sensing
- Handheld
- Satellite Sensing
- Driverless Tractors
- Mobile Devices
- VRT
- Wireless Modules
- Bluetooth Technology
- Wi-Fi Technology
- Zigbee Technology
- RF Technology
- Sensing Devices
- Soil sensor
- Nutrient Sensor
- Moisture Sensor
- Temperature Sensor
- Water Sensor
- Climate Sensor
- Others
- Soil sensor
- Antennas & Access Points
- Automation & Control Systems
- Software
- Services
- System Integration & Consulting
- Maintenance & Support
- Managed Services
- Data Services
- Analytics Services
- Farm Operation Services
- Assisted Professional Services
- Supply Chain Management Services
- Climate Information Services
- Hardware
- Application Outlook
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking & Forecasting
- Irrigation Management
- Inventory Management
- Farm labor Management
- Regional Outlook
- North America
- Europe
- Germany
- The U.K.
- France
- Russia
- Italy
- Asia Pacific
- China
- India
- Japan
- Australia
- Singapore
- South America
- The Middle East and Africa (MEA)
In this study, the years considered to estimate the market size of Precision Farming are as follows:
- Historic Year: 2017-2020
- Base Year: 2020
- Forecast Year 2021 to 2028
Reasons to Purchase this Report:
– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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The post Precision Farming Market To Power And Cross USD12.10 Bn By 2028 appeared first on Flair Insight.