Global Precision Farming Market is anticipated to
reach USD 10.23 billion by 2025,
according to a new report by Grand View Research, Inc. Precision farming, also
known as site-specific crop management or satellite farming, is a concept of
farm management that uses information technology to ensure optimum health and
productivity of the crops. The precision farming technique largely depends on
specialized equipment, IT, and software services. Furthermore, this farming
technique involves a broad range of technologies including bio-engineering,
robotics & automation, imagery & sensors, and big data, as well as
digitization. The adoption of site-specific crop management would reduce the
cost of nitrogen fertilizers, improve crop yields, reduce the usage of
pesticides, provide better farm records that are essential for sale, and
provide better information for management decisions.
The growing
application of telematics in agriculture is anticipated to drive the demand for
precision farming over the projected period. Telematics services include
tracking devices using Global Navigation Satellite System (GNSS) to show the
position of the equipment for management purposes. It also offers a real-time
view of the position, coolant temperature, ground speed, and the duration
before which maintenance is required. Major agriculture equipment manufacturers
are adopting telematics services for their equipment in order to improve farm
efficiency.
Improving the
efficiency of agricultural machinery reduces the cost of agricultural
operations and maximizes profitability. Additionally, good management might
reduce the environmental impact. Farmers are increasingly using telematics
technology to collect and manage information from their field equipment.
Telematics
technology is used to capture and transfer data from the farm equipment through
sensors installed on tractors and other field monitoring equipment. The
increasing adoption of telematics systems by agricultural equipment companies
is expected to drive the demand in the precision farming market.
Trimble Ag
Software’s Connected Farm uses cellular and wireless technology to transfer
data. Furthermore, the company uses Farm Works software to manage data
transferred from the farm equipment. Raven Industries, Inc. provides a
telematics service called Slingshot. It uses cell phone networks to offer data
transfer, real-time kinematic GPS correction signals, and real-time technical
support in the fields. Additionally, Slingshot allows users to track the
vehicle’s location.
However, the lack of
technology adoption among farmers is likely to restrain the market growth over
the forecast period. The lack of standards and limitations on the exchange of
data between the systems limits the adoption of modern agricultural machinery
of different brands and companies. Furthermore, farmers lack independent
consulting and advisory services owing to the lack of validated agronomic
models for Variable Rate Technology (VRT) to make a decision on investments.
Additionally, independent services are not linked to co-operatives, government
bodies, and farmer’s associations where farmers can get additional information
to take decisions.
Full Research Report on Global Precision Farming Market
Analysis:
Further key findings from the report suggest:
- The increasing government support for
adopting modern agricultural techniques and the growing need for
monitoring crop health for yield production are expected to drive the
market demand.
- The services segment is expected to
portray a significant growth rate over the projected period, growing at a
CAGR of 16.0%.
- The cloud-based software model is
anticipated to gain market share over the projected period as it reduces
energy consumption and large data storage, and facilitates cost saving.
- Innovations in GPS mapping and related
applications concerning farms are helping farmers to operate more
efficiently and increase their profit margins.
- Drones are expected to witness enormous
growth in the agriculture field as they are increasingly used in
monitoring irrigation systems.
- Soil monitoring is a major application
of the yield monitoring segment as it is used to detect soil properties to
increase the yield.
- Digital revolution in the agricultural
sector along with government financial incentives to farms is likely to
drive the demand in the European precision farming market in the coming
years.
- The key players of the precision farming
market include Agribotix LLC (U.S.), Deere & Company (U.S.), SST
Development Group, Inc. (U.S.), Farmers Edge, Inc. (Canada), and Granular,
Inc. (U.S.), among others
View more reports of this category by Grand View Research
at: http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the Global Precision
Farming Market based on offering, application, and region:
Precision Farming/Agriculture Offering Outlook (Revenue,
USD Million, 2014 - 2025)
- Hardware
·
Automation
& control systems
§
Drones
§
Application
control devices
§
Guidance
systems
·
GPS
·
GIS
§
Remote
sensing
·
Handheld
·
Satellite
sensing
§
Driverless
tractors
§
Mobile
devices
§
VRT
·
Map-based
·
Sensor-based
§
Wireless
modules
·
Bluetooth
technology
·
Wi-Fi
technology
·
Zigbee
technology
·
RF
technology
·
Sensing
devices
§
Soil
sensor
·
Nutrient
sensor
·
Moisture
sensor
·
Temperature
sensor
§
Water
sensors
§
Climate
sensors
§
Others
·
Antennas/access
points
·
Software
·
Web-based
·
Cloud-based
·
Services
·
System
integration & consulting
·
Maintenance
& support
·
Managed
services
§
Data
services
§
Analytic
services
§
Farm
operation services
·
Assisted
professional services
§
Supply
chain management services
§
Climate
information services
Precision Farming/Agriculture Application Outlook
(Revenue, USD Million, 2014 - 2025)
- Yield monitoring
- On-farm
- Off-farm
- Field mapping
- Crop scouting
- Weather tracking & forecasting
- Irrigation management
- Inventory management
- Farm labor management
Precision Farming/Agriculture Regional Outlook (Revenue,
USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Russia
- Asia Pacific
- China
- Japan
- India
- Australia
- South America
- Brazil
- Middle East and Africa (MEA)
View Press Release Of this research report by Grand View
Research:
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
No comments:
Post a Comment