DUBLIN--(BUSINESS WIRE)--The "Precision Viticulture Market by Technology (Guidance Systems, Remote Sensing, VRT), Application (Yield Monitoring, Field Mapping, Weather Tracking & Forecasting), Product/Service (Hardware, Software, Services) - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The precision viticulture market is projected to reach USD 1,546.6 million by 2022, from USD 1,014.0 million in 2017, at a CAGR of 8.81% from 2017 to 2022.
The market is driven by government support for the adoption of modern viticulture techniques. The high initial capital investments and lack of technical awareness are expected to restrict the market growth.
The service segment is projected to grow at the highest CAGR during the forecast period. The services provided to growers and winemakers such as system integration and consulting, managed services, connectivity services, assisted professional services, and maintenance and support services lead to an increased demand for precision viticulture across the regions.
The weather tracking & forecasting application segment is projected to grow at the highest CAGR during the forecast period. The growing adoption of new technologies in farming for maximum profitability and production is increasing the demand for precision viticulture during the forecast period.
The Asia Pacific precision viticulture market is projected to grow at the highest rate between 2017 and 2022. The demand for precision viticulture is expected to increase in the Asia Pacific region owing to the higher adoption of new technologies and increasing awareness of technical awareness.
Market Dynamics
Drivers
- Increase in Focus on Farm Efficiency and Productivity
- Increase in Demand for High-Quality Grapes
- Growth in Adoption of New Technologies in Farming for Maximum Profitability and Production
- Government Support for the Adoption of Modern Viticulture Techniques
- Rise in Need for Monitoring Grape Quality
Restraints
- High Initial Capital Investments
- Lack of Technical Knowledge
- Dependence on Conventional Vineyard Management Practices
Opportunities
- Integration of Smartphones With Agricultural Hardware and Software Applications
- Increase in Usage of Unmanned Aerial Vehicles (UAVS)/Drones in Precision Viticulture
Challenges
- Management of Data for Productive Decision Making
- Lack of Standardization in the Precision Viticulture Industry
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Precision Viticulture Market, By Technology
7 Precision Viticulture Market, By Application
8 Precision Viticulture Market, By Product/Service
9 Precision Viticulture Market, By Region
10 Competitive Landscape
11 Company Profiles
- AG Leader Technology
- Aha Viticulture
- Ateknea Solutions
- Deveron Uas
- Groupe ICV
- John Deere
- Quantislabs
- Teejet Technologies
- Terranis
- Topcon
- Tracmap
- Trimble
For more information about this report visit https://www.researchandmarkets.com/research/n2rg5n/global_precision?w=4
