DUBLIN--(BUSINESS WIRE)--The "Global Precision Farming Market - By Technology , Application, Geography, Trends, Forecast - 2017 - 2022" report has been added to Research and Markets' offering.
The Global Precision Farming Market is valued at USD 3.18 billion in 2016 and is expected to reach a value of USD 7.09 billion by the end of 2022, growing at a projected CAGR of 12.14% during the forecast period of 2017 - 2022.
Precision agriculture involves systems, services and activities that collect, monitor, track, manipulate and analyze data pertaining to agriculture and farming namely information about the soil, crop, water, climate, yield, nutrients and other environmental factors. More so, the technology primarily handles the variability in the above mentioned factors. Precision agriculture not only ensures efficient use of resources, maximizes output and profitability, but also provides a sustainable solution to farm management practices.
The high growth in this sector is credited to growth in the agricultural industry, governmental incentives and subsidies, pressure for food crops due to a rise in population, the need to pay attention to crop health and crop yield in order to increase productivity, cost-effectiveness and the recent integration of IT and big data analytics into agriculture.
The domain has some constraints such as high initial costs of investment, lack of technological skills, slow penetration of technology, unwillingness to adopt the latest technologies and the lack of common standards for farming practices. The areas in precision farming that have the scope and are yet to be explored are many.
The APAC market is yet to catch up with its growing demand for food crops. The anticipated growth in the Variable Rate Applications (VRA) market, opportunities in the application of drones and Unmanned Aerial Vehicle (UAV) in precision farming practices and the growing environmental issues are some of the areas of opportunities.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Dynamics
6. Market Segmentation
7. Competitive Assessment - Market Shares, Profiles, Overview, Products and Services, Business Strategies, Recent Developments and Innovations
8. Market Landscape: Current and Future
Company Profiles
- AGCO Corporation
- Ag Leader Technology
- Agjunction Inc.
- Case lh
- Deere & Company
- Dicky-John Corporation
- Precision Planting Inc.
- Raven Industries Inc.
- Lindsay
- Monsanto
- Novariant
- The Toro Company Summary
- Teejet Technologies
- Topcon Precision Agriculture
- Trimble Navigation Ltd.
- Valmont Industries
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Yara International
For more information about this report visit https://www.researchandmarkets.com/research/32gnk9/global_precision
