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Increasing usage of IoT in the agriculture sector is contributing to the growth of the precision Farming/Agriculture market. Farm managers & producers are leveraging the capabilities of the IoT devices, such as sensors, GPS & GNSS systems, and automated steering systems, for soil sampling, temperature monitoring, filed mapping, irrigation management, and several other applications
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Precision Farming/Agriculture Market To Reach USD 14.1 Billion By 2026 www.reportsanddata.com sales@reportsanddata.com
Market Summary Increasing usage of IoT in the agriculture sector is contributing to the growth of the precision Farming/Agriculture market. Farm managers & producers are leveraging the capabilities of the IoT devices, such as sensors, GPS & GNSS systems, and automated steering systems, for soil sampling, temperature monitoring, filed mapping, irrigation management, and several other applications Market Size – USD 5.3 Billion in 2018, Market Growth - CAGR of 12.7%, Market Trends – New product launches and increasing usage of IoT in Farming/Agriculture practices
Our Approach Market Summary According to the current analysis of Reports and Data, the global precision Farming/Agriculture market was valued at USD 5.3 Billion in 2018 and is expected to reach USD 14.1 Billion by the year 2026, at a CAGR of 12.7%. This high growth is mainly attributable to an increasing usage of GPS & GIS systems to monitor agricultural parameters. These field mapping systems help to gather real-time data and enable the analysis of a huge geospatial data set. These systems facilitate field mapping, soil sampling, and farm planning and help farmers to adopt effective soil or plant treatment strategies, increasing farm production. In addition, sensors are placed throughout the field that measure temperature, nutrition level and humidity of the soil. Therefore, the technology eliminates manual human efforts by automating crucial processes including real-time farm monitoring and information sharing. Precision Farming/Agriculture is swiftly gaining popularity among farmers due to the increasing need for optimum production with the given resources. Further, the changing weather patterns due to increasing global warming have necessitated the adoption of advanced technologies to enhance the productivity and crop yield. Key participants include Deere & Company (US), Trimble (US), AGCO Corporation (US), AgJunction (US), Raven Industries (US), AG Leader (US), Precision Planting (US), The Climate Corporation (US), Descartes Labs (US), ec2ce (Spain), Gamaya (Switzerland), Decisive Farming/Agriculture (Canada). To Get Sample Copy of Report visit @ https://www.reportsanddata.com/sample-enquiry-form/1291
Our Approach Market Summary For the purpose of this report, Reports and Data has segmented the precision Farming/Agriculture market on the basis of component, technology, application, and region: Component (Revenue, USD Million; 2016–2026) Hardware Automation & Control Systems Sensing and Monitoring Device Software Services Consulting & training Maintenance & update Integration Managed Service Other Services Technology (Revenue, USD Million; 2016–2026) Guidance Technology Remote Sensing Variable-Rate Technology
Our Approach Market Summary Application (Revenue, USD Million; 2016–2026) Yield Monitoring Field Mapping Crop Scouting Weather Tracking & Forecasting Irrigation Management Inventory Management Farm Labor Management Financial Management Others Regional Outlook (Revenue in USD Million; 2016–2026) North America Europe Rest of the Europe Middle East & Africa Latin America Grab Your Report at an Impressive Discount! Please Click Here @ https://www.reportsanddata.com/discount-enquiry-form/1291
Our Approach Market Summary Further key findings from the report suggest Precision Farming/Agriculture market in North America was the largest with a share of 2% in 2018. The market here is projected to grow at a CAGR of 11.0% during the forecast period. The increasing adoption of efficient and sustainable Farming/Agriculture practices to ensure food security is one of the primary factors contributing to the use of precision Farming/Agriculture techniques in the agriculture sector. In 2018, the U.S. precision Farming/Agriculture market sales grew to USD 1.3 billion, at a CAGR of 9.3% during the forecast period. The Asia-Pacific region is projected to be the fastest growing market during the forecast period, growing at a CAGR of 18.7%. Presence of countries with the largest population, rising demands for food products, and the need to enhance farm output drive the demand for precision Farming/Agriculture techniques in the region. The hardware segment dominated the market in terms of revenue in 2018 and is expected to remain dominant over the forecast period. The hardware segment was valued at USD 3.7 billion in 2018. Browse the comprehensive TOC and data tables @ https://www.reportsanddata.com/report-detail/precision-farming-agriculture-market
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