Global Precision Farming (Yield Monitoring, VRA, Mapping, Soil Monitoring, Scouting) Market - Forecasts to 2020

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Nov 14, 2014, 03:59 ET

DUBLIN, November 14, 2014 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/4wl6r6/precision_farming) have announced the addition of the "Precision Farming Market by Technology, Components, Application and Geography - Global Forecasts to 2020" report to their offering.

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Precision farming is generally defined as information and technology based farm management systems used to identify, analyze, and manage variability within fields for optimum profitability, sustainability, and protection of land resources. To make farming effective, information technology based products can be used for enabling better decisions about various aspects of crop production. Precision farming involves increasing the yield efficiency that can be done by understanding, analyzing, and dealing with the natural variability found within the field. The ultimate goal of using precision farming techniques is to maximize the yield level with specific use of resources.

Precision farming is observed to be in its matured phase in the U.S. market. Precision farming market is expected to see upgrades in the existing systems, along with the adoption of variable rate applicators driving the market growth. Outside the U.S., South America, APAC, and Europe; particularly, Brazil, Argentina, Eastern Europe, and China - are fuelling a strong double-digit growth as they are in early stages in the adoption life cycle; also, due to the large consolidated farming operations in those regions.

New developments in the agro-industry will also cater the demand for precision farming products. One of the largest applications of precision farming products is the variable rate technology; due to its high adoption rate and multiple applications it is expected to drive the industry growth in coming years. In addition to that,the U.S. Government is also providing support to adopt this technology to obtain high yields.

This report covers vital driving and restraining factors for this market. Encouraging government legislations and policies for adopting precision agriculture techniques, the growing food demand, crop health, energy and cost savings, and the growing ago industry are acting as driving factors for this industry. However, there are few factors which are acting as obstacles in the growth of precision farming market. These factors are high initial installation costs and lack of technical knowledge among the growers.

The worldwide precision farming market is segmented into the Americas, Europe, APAC, and RoW. APAC is the leading region in this market in terms of the growth rate,due to factors such as supportive government policies, increasing demand for food due to growing population, and the developing economies. However, North America which is another vital precision farming market is expected to exhibit a significant growth in coming years due to revised government policies and the push to adopt the variable rate technology in precision farming.

Precision farming market report profiles major companies in precision farming market which are contributing significantly. These companies are AgJunction Inc. (U.S.), Ag Leader Technology (U.S.), Dickey-John Corporation (U.S.), Teejet Technologies (U.S.), Deere &Company (U.S), Trimble Navigation System (U.S.), Precision Planting Inc.(U.S.), ACGO Corporation (U.S.), Topcon Precision Agriculture (U.S.), and Raven Industries Inc. (U.S.).

Key Topics Covered:

1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Market, By Technology
8 Market, By Hardware & Software Components
9 Market, By Application
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
13 Appendix

Companies Mentioned: