The latest report by IMARC, titled “Global Precision Viticulture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global precision viticulture market is growing at a CAGR of 8.9% during the forecast period (2022-2027). Precision viticulture (PV) refers to a modern scientific technique designed to yield grapes with enhanced efficacy and optimize vineyard performance. This is achieved with the help of numerous emerging technologies, such as the global positioning system (GPS), geographic information system (GIS), and meteorological and other environmental sensors. PV also helps control the fertilizer application, soil fertility, diseases, weeds, harvesting, and water level for grape production. In recent years, PV has gained traction due to its widespread adoption for yield monitoring, weather tracking and forecasting, and managing the vineyard and inventory.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect effect of the associated industries on the market. These observations will be integrated into the report.
Global Precision Viticulture Market Trends:
One of the primary factors driving the market is the rising awareness about precision viticulture practices. PV is used to identify and maintain variability within the vineyards with the help of information technology (IT) techniques, this is positively influencing the market growth. Other than this, governments of numerous nations are taking initiatives for the adoption of the latest agricultural activities. They are also assisting vineyard owners to detect factors affecting the production by providing remote sensing technologies and new information. This, along with numerous technological improvements, such as the launch of state-of-art devices and systems, including sensors, drones and driverless tractors, assist the vineyard owners in understanding the insights related to plant health based on the data collected. This, in turn, enables them to take preventive steps for the optimum growth of the produce, thereby increasing the momentum of PV. For instance, sensors and drones. Moreover, the utilization of innovative PV technologies, such as VitiCanopy, for monitoring the growth and health of the vineyard is creating lucrative growth opportunities for grape producers.
- Based on the component, the market has been divided into hardware, software, and services.
- On the basis of technology, the market has been segmented into guidance systems, remote sensing, and variable rate technology.
- Based on the application, the market has been categorized into yield monitoring, field mapping, crop scouting, weather tracking and forecasting, irrigation management, inventory management, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Aha Viticulture, Atlas Vineyard Management Inc., Deere & Company, Deveron, ICV Group Inc., Teejet Technologies (Spraying Systems Co.), TerraNIS Systems, Topcon Corporation, Tracmap Limited, and Trimble inc.
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