According to MarketIntelReports’ “Global Precision Farming Sales Market Report 2017”:
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Precision agriculture can be described as an advanced farming technique that uses GPS and remote sensing for collecting important information which is used to support the grower’s decision regarding planting of crops, fertilizing, and harvesting. Sensors which are placed in the field measure the temperature, humidity, and nutrition level of the soil. Smart farming technologies save the effort of human beings using real time farm monitoring and information sharing. The Precision Farming Market is becoming popular due to the need for optimum production with available resources. Weather patterns are changing due to global warming and this has pushed the need for adoption of agri technology to enhance crop yield.
Scope & Regional Forecast of the Precision Farming Market
North America held the largest share in the Precision Farming Market in 2016. The introduction of farming technology needs assistance from the government, as the agriculture sector has poor self sustaining farmers. For implementing modern technologies, excellent infrastructure, good cultural background , and installation support services are required.
The adoption of smartphones is a main factor which proliferates the growth of modern agriculture equipment. Integrating smartphones with the agriculture equipment ensures an easy access to agriculture mobile applications. This makes it easy for farmers to monitor their fields.
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Growing prominence of Telematics technologies will fuel the demand for modern agriculture further. Telematics can record the process of the equipment and transfer the data through a modem placed on the farm machinery. This ensures a smooth operations and ensures a better efficiency.
Yield monitor is used to help farmers to take decisions about their fields. It is divided into two types namely On farm yield monitoring and Off farm yield monitoring. On farm yield monitoring provides real time information regarding the harvest of the crops. Off farm yield monitoring provides track records for food safety.
The irrigation management application will have a decent growth during the forecast period. Sensors can find out the right amount of irrigation water. Adoption of precision agriculture drones has a positive impact on the growth of smart irrigation technology.
Segmentations & Key Players Involved in the Precision Farming Market
The Precision Farming Market can be broken down into various segments as follows:
Product- Guidance System, Remote Sensing, and Variable Rate Technology.
Application- Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking and Forecasting, and Other.
Region- United States, China, Europe, Japan, Southeast Asia, and India.
Some of the key players involved in the Precision Farming Market are as follows:
Deere & Company
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