DUBLIN--(BUSINESS WIRE)--The "Global Precision Agriculture Market: Focus on Solution, Technology, Crop Type, Application, Robots Type & Business Model, Drones Type & Application, Funding, Patents - Analysis and Forecast, 2019-2025" report has been added to ResearchAndMarkets.com's offering.
According to this report the precision agriculture market is expected to reach $11,106.7 million by 2025, rising at a CAGR of 13.97% from 2019 to 2025.
The market growth is largely attributed to the growing need to adopt site-specific farming solutions to manage the raw materials and resources effectively. The added benefits of these advanced solutions are low labor costs, integration, and accessibility associated with precision agriculture, and these factors are also expected to be responsible for the reported growth of the market.
Precision agriculture is considered to be an advanced technological change in the farming sector, adapted to improve crop yield and reduce labor shortage to meet the global food demand. The advanced technology and techniques enable the farmers to optimize the usage of resources, such as fertilizers, seeds, water, and pesticides. The agriculture industry has been witnessing a revolutionary phase owing to the introduction of digital technologies in farming in the past decade.
The integration of software and hardware solution has led to the generation of a huge amount of data that can be analyzed using different tools providing farmers with valuable insights to promote yield growth. Also, the widespread adoption of drones and robots in the agriculture industry led to improving the different farming applications. As the advancement in the practice of precision agriculture drives the usage of advanced solutions, several challenges associated with the practice restricts its adoption.
The trend of precision agriculture practices is not only prevalent in developed countries but also in developing countries. In countries such as China and India, large deployments of smartphones and the internet of things systems have led to the rapid adoption of precision agriculture solutions. The government of different countries has also realized the importance and advantage of these advanced solutions, and thus, their initiatives to promote precision agriculture are expected to drive the growth of the market. Some of the popular use cases of precision agriculture include robotics, predictive analytics, unmanned aerial vehicle, and autonomous robots. As per the agriculture applications, spraying, monitoring, irrigation, and fertilization, among others, are where the advanced solutions have been successfully utilized.
Market Dynamics
Drivers
- Growing Demand for Crop Yield
- Expanding Need for Climate Smart Farming
- Rising Labor Shortage
Challenges
- Lack of Technical Knowledge and Awareness
- Complexity of Data Management and Data Privacy
Opportunities
- Impact of 3D Printing on Farming
- Blockchain for Agriculture
- Artificial Intelligence in Agriculture
Key Questions Answered Include:
- What is the expected global precision agriculture market size in terms of value during the period 2019-2025?
- What is the expected future scenario and revenue generated by the different types of solutions, including software, hardware, and support services?
- What is the expected future scenario and revenue generated by the technology segment for which precision agriculture is offered, including, guidance technology, sensing technology, variable rate application technology, and data analytics and intelligence, among others?
- What is the expected future scenario and revenue generated by the application segments for which precision agriculture is offered, including precision irrigation, field monitoring, precision spraying, precision fertilization, precision planting, and data management, among others?
- What is the expected future scenario and revenue generated by the precision agriculture operating for different farm produce, including field crops, permanent crops, and other produce types?
- What is the expected future scenario and revenue generated by global agriculture robots when they are offered as per different business models, including agriculture robot-as-a-product (ARaaP) and agriculture robot-as-a-service (ARaaS) in the precision agriculture market?
- What is the expected future scenario and revenue generated by the different types of global agriculture robots, such as weeding robots, harvesting and picking robots, autonomous robot tractors, and other robots in the precision agriculture market?
- What is the expected future scenario and revenue generated by the different types of global agriculture drones such as fixed-wing drones, single rotor drones, multi-rotor drones, and hybrid VTOL drones in the global precision agriculture market?
- What is the expected future scenario and revenue generated by the application segments for which global agriculture drone is offered, including soil & field mapping and analysis, field supervision, crop health assessment, crop spraying, irrigation monitoring, and others?
Companies Mentioned
- 365FarmNet GmbH
- AGCO Corporation
- Abundant Robotics Inc.
- AeroVironment, Inc.
- Agrivi
- BASF SE
- CLAAS Group
- CNH Industrial N.V.
- Deepfield Robotics
- Deere & Company
- ecoRobotix Ltd.
- Granular Inc.
- Harvest Automation Inc.
- Harvest Croo Robotics
- Hexagon Agriculture
- IBM Corporation
- Kubota Corporation
- Microsoft Corporation
- Naio Technologies
- Parrot SA
- PrecisionHawk Inc.
- Raven Industries Inc.
- Robert Bosch GmbH
- Robotics Plus
- Teejet Technologies
- The Toro Company
- Topcon Corporation
- Trimble Inc.
- Valmont Industries, Inc.
- Yamaha Motor Co. Ltd.
-
Yanmar Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/djddr2
