Global Precision Farming Market (2020 to 2027) - Key Players Include Agribotix, Deere & Company and SST Development Group Among Others

DUBLIN, Feb. 27, 2020 /PRNewswire/ -- The "Precision Farming Market Size, Share & Trends Analysis Report by Offering, by Application (Yield Monitoring, Weather Tracking, Field Mapping, Crop Scouting), by Region, and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.

The global precision farming market size is anticipated to reach USD 12.9 billion by 2027. It is expected to register a CAGR of 13.0% over the forecast period.

Precision farming, also known as site-specific crop management or satellite farming, is a farm management concept that uses information technology to ensure optimum health and productivity of crops. The precision farming technique largely depends on specialized equipment such as sensing devices, antennas and access points, and automation and control system. It also involves maintenance services and managed services. Additionally, it incorporates a broad range of technologies such as bio-engineering, robotics and automation, imagery and sensors, and big data.

Growing number of applications for telematics in agriculture is anticipated to drive 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. Major manufacturers of agriculture equipment are adopting telematics services for their equipment to improve farm efficiency, thereby reducing the cost of agricultural operations and maximizing profitability. Additionally, improved management can help reduce environmental impact.

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 precision agriculture market.

Furthermore, with advancements in GPS guidance and automation, drones are poised to transform the agriculture industry. The ability of drones to precisely analyze the soil at the beginning of the crop cycle and detect a plant infected with bacteria or fungus is anticipated to propel the growth of the drone segment.

However, low rate of technology adoption among farmers is likely to hamper market growth over the forecast period. This may be due to factors such as absence of stringent standards and limitations on the exchange of data. Furthermore, farmers lack independent consulting and advisory services owing to the absence of validated agronomic models for Variable Rate Technology (VRT) to make decisions on investments. In addition, independent services are not linked to co-operatives, government bodies, and farmer's associations where farmers can get additional information to make improved decisions.

Further key findings from the report suggest:

• Increasing government support for adopting modern agricultural techniques and growing need for efficiently monitoring the health of crops are expected to drive market growth
• Cloud-based software model is anticipated to gain significant precision farming market share over the projected period as it reduces energy consumption and provides storage for large amount of data while facilitating cost saving
• Innovations in GPS mapping and related farming applications are enabling farmers to operate more efficiently and increase their profit margins
• Demand for drones is expected to grow in the agriculture field as they are increasingly used in monitoring irrigation systems
• Yield monitoring finds wide applications in soil monitoring as it helps detect the properties of soil for increasing yields
• Digital revolution in the agricultural sector, along with government financial incentives to farms, is likely to drive demand for precision farming in Europe in the forthcoming years
• Asia Pacific is expected to witness the fastest growth owing to availability of the largest agricultural land, which provides growth opportunities in countries such as China, India, Australia, and Japan
• Key players in the precision agriculture 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.).
  

Key Topics Covered:

1. Methodology and Scope

2. Executive Summary

3. Industry Outlook
3.1. Market Segmentation & Scope
3.2. Precision Farming Market Size and Growth Prospects
3.3. Precision Farming - Value Chain Analysis
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Growing awareness of precision farming
3.4.1.2. Challenges involved in agricultural work
3.4.1.3. Growing awareness of the benefits of agriculture drones
3.4.1.4. Growing government support for the adoption of modern agricultural methods
3.4.2. Market restraint analysis
3.4.2.1. High initial capital investment
3.4.3. Market challenge analysis
3.4.3.1. Scarcity of trained farmers
3.4.3.2. Lack of technology adoption among farmers
3.4.4. Market opportunity analysis
3.4.4.1. Growing application of telematics in agriculture
3.5. Key Opportunities - Prioritized
3.6. Precision Farming- Key Company Analysis, 2019
3.6.1. Key company analysis, 2019
3.6.2. Precision farming key start-up analysis
3.7. Industry Analysis - Porter's
3.8. Precision Farming- PEST Analysis

4. Precision Farming Market: Offering Estimates & Trend Analysis
4.1. Precision Farming Market: Offering Analysis
4.1.1. Hardware market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1. Automation and control systems market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.1. Drones market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.2. Application control devices market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.3. Guidance system market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.3.1. GPS market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.3.2. GIS market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.4. Remote sensing market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.4.1. Handheld market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.4.2. Satellite sensing market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.5. Driverless tractors market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.6. Mobile devices market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.7. VRT market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.7.1. Map-based market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.7.2. Sensor-based market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.8. Wireless modules market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.8.1. Bluetooth technology market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.8.2. Wi-Fi technology market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.8.3. Zigbee technology market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.1.8.4. RF technology market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.2. Sensing devices market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.2.1. Soil sensor market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.2.1.1. Nutrient sensor market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.2.1.2. Moisture sensor market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.2.1.3. Temperature sensor market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.2.2. Water sensor market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.2.3. Climate sensor market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.2.4. Other market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.1.3. Antennas & Access Points market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.2. Software market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.2.1. Web-based market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.2.2. Cloud-based market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.3. Services market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.3.1. System integration & consulting market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.3.2. Maintenance & support market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.3.3. Managed services market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.3.3.1. Data services market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.3.3.2. Analytic services market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.3.3.3. Farm operation services market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.3.4. Assisted professional services market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.3.4.1. Supply chain management services market estimates and forecasts, 2016 - 2027 (USD Million)
4.1.3.4.2. Climate information services market estimates and forecasts, 2016 - 2027 (USD Million)

5. Precision Farming Market: Application Estimates & Trend Analysis
5.1. Precision Farming Market: Application Analysis
5.1.1. Yield monitoring market estimates and forecasts, 2016 - 2027 (USD Million)
5.1.1.1. On-farm market estimates and forecasts, 2016 - 2027 (USD Million)
5.1.1.2. Off-farm market estimates and forecasts, 2016 - 2027 (USD Million)
5.1.2. Field mapping market estimates and forecasts, 2016 - 2027 (USD Million)
5.1.3. Crop scouting market estimates and forecasts, 2016 - 2027 (USD Million)
5.1.4. Weather tracking & forecasting market estimates and forecasts, 2016 - 2027 (USD Million)
5.1.5. Irrigation management market estimates and forecasts, 2016 - 2027 (USD Million)
5.1.6. Inventory management market estimates and forecasts, 2016 - 2027 (USD Million)
5.1.7. Farm labor management market estimates and forecasts, 2016 - 2027 (USD Million)

6. Precision Farming Market: Regional Estimates & Trend Analysis
6.1. Precision Farming Market Share By Region, 2019 & 2027
6.2. North America
6.3. Europe
6.4. Asia Pacific
6.5. South America
6.6. Middle East and Africa (MEA)

7. Competitive Landscape
7.1. Ag Leader Technology
7.1.1. Company overview
7.1.2. Financial performance
7.1.3. Product benchmarking
7.1.4. Recent developments
7.2. AgJunction, Inc.
7.3. AGCO Corporation
7.4. Agribotix LLC
7.5. CropMetrics LLC
7.6. Deere and Company
7.7. DICKEY-john Corporation
7.8. Farmers Edge Inc.
7.9. Grownetics, Inc.
7.10. Granular, Inc
7.11. Raven Industries, Inc.
7.12. SST Development Group, Inc.
7.13. Trimble, Inc.
7.14. The Climate Corporation (a subsidiary of Monsanto Company)
7.15. Topcon Corporation

For more information about this report visit https://www.researchandmarkets.com/r/dfb4ko

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