DUBLIN--(BUSINESS WIRE)--The "Global Precision Farming Market - Segmented by Technology, Hardware & Software Components, Application (Yield Monitoring, Soil Monitoring, Mapping, Crop Scouting) and Region - Growth, Trends, and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The Global Precision Farming Market was valued at USD 3.58 billion in 2017, and is expected to reach a value of USD 7.3 billion by 2023, at a CAGR of 12.61% over the forecast period (2018-2023).
By the end of 2030, PF is touted to become the most influential trend in agriculture, eclipsing other advancements. Currently, the adoption of PF practices has largely been uneven, owing to several factors.
The adoption was found to be high, in areas where labor costs are high and land costs are relatively inexpensive. The skewed nature of adoption can be attributed to the presence of several exogenous factors, such as the availability of financial aid and initial effectiveness.
Key Highlights
- Rising Global Demand for Food Products is Driving the Growth of the Market
- Global Positioning System (GPS)/Global Satellite Navigation System (GNSS) Held the Largest Share of the Market in 2017
- United States Held the Largest Share in the Market
Developments in the Market
- October 2017 - AGCO entered an agreement with Lely group, to acquire its forage division. Lely's industry leading competence in hay and forage technology is poised to strengthen AGCO's full-line product offerings.
- May 2017 - The Climate Corporation, a subsidiary of Monsanto Company, announced the integration of imagery from innovative aerial imagery partners: CeresImaging, TerrAvion, and Agribotix, that will deliver valuable, high-resolution imagery to farmers through The Climate Corporation's industry-leading Climate FieldView digital agriculture platform.
Key Topics Covered
1. Introduction
2. Research Approach and Methodology
3. Executive Summary
4. Market Dynamics
5. Global Precision Farming Market - Segmentation
6. Competitive Landscape
7. Competitive Intelligence - Company Profiles
- AGCO Corporation
- AG Junction Inc.
- John Deere Co.
- Dickey-john Corporation
- Teejet Technologies Illinois LLC
- Raven Industries Inc.
- Lindsay Corporation
- Monsanto Company
- Valmont Industries Inc.
- Topcon Precision Agriculture
- Trimble Navigation Limited
- E. I. Du Pont De Nemours and Company (DuPont)
- Land O'Lakes Inc.
- BASF SE
- Yara International AS
8. Investment Analysis
9. Future of the Global Precision Farming Market
For more information about this report visit https://www.researchandmarkets.com/research/9rjc52/global_7_3bn?w=4
