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The global precision agriculture market reached a value of US$ 6.7 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$11.9 Billion by 2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Precision Agriculture (PA) refers to a type of integrated information- and production-controlled farming system that utilizes the latest available technologies and research methods for enhancing agricultural output. It helps farmers in increasing long-term, site-specific and whole-farm production efficiency, and profitability while minimizing the unintended impact on wildlife and the environment. Nowadays, precision agriculture has gained immense popularity across the globe with the development of IT that helps in achieving high quality of production and reducing the production costs and labor inputs.
Global Precision Agriculture Market Drivers/Constraints:
IMARC Group provides an analysis of the key trends in each sub-segment of the global precision agriculture market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on technology, type, component and application.
Breakup by Technology:
GNSS/GPS currently represents the leading technology segment. GNSS and GPS are utilized for mapping and geo-positioning, yield monitoring, soil condition monitoring, virtual fencing, and biomass monitoring.
Breakup by Type:
Automation and control systems currently represent the leading segment as they help in reducing labor costs, offering reliable and consistent performance, and improving the efficiency as well as the accuracy of agricultural operations.
Breakup by Component:
Based on the component, hardware is the leading segment since the continuous evolution in technology has resulted in the introduction of new devices with better location and data processing capabilities.
Breakup by Application:
Yield monitoring is the largest application area and helps in measuring and recording information based on grain flow, grain moisture and covered farm area. With yield monitoring technology, farmers can compare the performance of different seed varieties throughout their fields, which helps in improving seed selection.
North America enjoys the leading position in the market on account of the advancements made in the field of precision agriculture in the region, both in terms of the types of offerings, which range from site-specific to guidance technologies, and the adoption of various systems by the farmers.
The market is highly fragmented and consists of numerous players at each stage of the supply chain. Some of the leading players operating in the market are:
|Base Year of the Analysis||2020|
|Segment Coverage||Technology, Type, Component, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Agribotix, Bayer CropScience AG, Case IH Agriculture, ClearAg Operations, Conservis Corporation, Deere & Company, Farmers Edge Inc., Fairport Farm Software, Fuse Technologies, Granular AG, Grownetics Inc., IBM, MapShots Inc., Raven Industries and SST Software|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
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|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
Key Questions Answered in This Report:
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