San
Francisco, 10 October 2018, The 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 Precision Farming 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
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the
precision farming market based on offering, application, and region:
Precision
Farming/Agriculture Offering Outlook (Revenue, USD Million, 2014 - 2025)
·
Hardware
o
Automation & control systems
o Drones
o Application control devices
o Guidance systems
o GPS
o GIS
o Remote sensing
o Handheld
o Satellite sensing
o Driverless tractors
o Mobile devices
o VRT
o Map-based
o Sensor-based
o Wireless modules
o Bluetooth technology
o Wi-Fi technology
o Zigbee technology
o RF technology
o
Sensing devices
o Soil sensor
o Nutrient sensor
o Moisture sensor
o Temperature sensor
o Water sensors
o Climate sensors
o Others
o
Antennas/access points
·
Software
o
Web-based
o
Cloud-based
·
Services
o
System integration & consulting
o
Maintenance & support
o
Managed services
o Data services
o Analytic services
o Farm operation services
o
Assisted professional services
o Supply chain management services
o Climate information services
Precision
Farming/Agriculture Application Outlook (Revenue, USD Million, 2014 - 2025)
·
Yield monitoring
o
On-farm
o
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
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
o
France
o
Russia
·
Asia Pacific
o
China
o
Japan
o
India
o
Australia
·
South America
o
Brazil
·
Middle East and Africa (MEA)
Access Full Press Release of this Report: www.grandviewresearch.com/press-release/global-precision-farming-market
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