Global Precision Farming Market 2020-2023 to Post a CAGR of 12.61%, Segmentation by Key Regions, Gross Margin, Profit, Analysis, Market Share | 360 Research Reports
The Global Precision Farming Market 2020-2023 Research Report provides idealistic and determined details of the Precision Farming Market, that assist you in promoting ideas with research-based factors. It offers in-depth data, refines variations of the worldwide Precision Farming market to help you in deciding the final strategy. The report features a thorough outlook of the market considering profitability, attractiveness, revenue, and CAGR.
The Precision Farming Market Research Report also focuses on leading industry Manufacturer with information such as company profiles, products, and services offered financial information throughout 2020 – 2023
- AGCO Corporation
- AG Junction Inc.
- John Deere Co.
- Dickey-john Corporation
- Teejet Technologies Illinois LLC
- Raven Industries Inc.
- Lindsay Corporation
- Monsanto Company
- Valmont Industries Inc.
- Topcon Precision Agriculture
- Trimble Navigation Limited
- E. I. Du Pont De Nemours and Company (Dupont)
- Land O’lakes Inc.
- BASF SE
- Yara International ASA
The Precision Farming Market Report offers an accurate financial assessment of each leading Competitor based on their business data that includes estimation of gross margin, Precision Farming Market sales volume, profitability, pricing erection, product value, cost structure, revenue, and growth rate.
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Summary of Precision Farming Market:
The Global Precision Farming Market was valued at USD 3.58 billion in 2017, and is expected to reach a value of USD 7.30 billion by 2023, at a CAGR of 12.61% over the forecast period (2020 – 2023).
Over the past two decades, PF (precision farming) has successfully made the transition from being an academic research topic to a highly beneficial practice in the field of agriculture. Around 70-80% of the new equipment purchases has been deemed to contain some form of PF tools. PF practices can be better analyzed as a cyclical approach rather than a sequential one (as depicted in the adjacent pictorial representation).
By the end of 2030, PF is touted to become the most influential trend in agriculture, eclipsing other advancements. Currently, the adoption of PF practices has largely been uneven, owing to several factors.
The adoption was found to be high, in areas where labor costs are high and land costs are relatively inexpensive. The skewed nature of adoption can be attributed to the presence of several exogenous factors, such as the availability of financial aid and initial effectiveness.
Rising Global Demand for Food Products is Driving the Growth of the Market
According to a survey conducted by the UN DESA organization, the world population is expected to grow from around 7.35 billion in 2015 to 8.3 billion in 2030. The growth, in addition to rising disposable incomes, has contributed to the sustained rise in demand for food across the world.
The farming community is coming under severe pressure to meet the growing demand for food. The demand can be met by either increasing agricultural land, or by making optimal use of the available agricultural land.
Farmers in developed countries are increasingly veering toward “sustainable intensification”, which advocates the use of precision farming techniques and tools to optimize crop productions.
Global Positioning System (GPS)/ Global Satellite Navigation System (GNSS) Held the Largest Share of the Market in 2017
Agriculture contributes to 2% of the global revenue of GNSS systems, considering the receivers, navigation, maps, and software. Of the four billion GNSS devices used worldwide, Asia-Pacific has the highest contribution, which is higher than both Europe and North America, combined.
Miniaturization and improved accuracy of the global navigation satellite system (GNSS) technology (of which, GPS is mostly in use, at present) makes it possible for wide-scale adoption of PF technologies for geo-positioning and field mapping. The scope of GNSS devices in PF includes applications in automatic steering, variable rate application, farm machinery guidance, yield monitoring, biomass monitoring, soil condition monitoring, livestock tracking, and virtual fencing. The market size of GNSS devices includes the scope of tractor guidance, automatic steering, variable rate technologies, and asset management. The tractor guidance segment is the largest contributor, with more than half of the GNSS device’s contribution.
United States Held the Largest Share in the Market
As per estimates of the US Department of Agriculture, nearly 2.06 million farms in the United States used 911 million acre land with a production value of USD 355.9 billion in 2016.
It is estimated that only 20% of the total acreage in the United States and 58% of the producers implement precision agricultural technologies. AgLeader, Agri-vision, Blue River Technologies, Crop Venture Incorporated, Farm Works, and Holland Scientifics are some of the precision agriculture companies based in the United States.
The Federal Aviation Administration (FAA) has laid out its restrictions toward the flying of drones; but as per their new rules passed in 2016, drones for commercial purposes, weighing up to 55 lb can be used in the United States during daylight hours.
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Reasons to Purchase this Report
The Precision Farming Market 2020-2023 Analysis objectives of the report are:
- To analyze Precision Farming Market regarding growth trends, anticipation and also their participation in the entire sector.
- To equitably share in-depth info regarding the vital elements influencing the increase of industry (growth capacity, probability, drivers and industry-specific challenges and risks).
- To know the Precision Farming Market by distinguishing its many sub-segments.
- To examine and study the market size (volume & value) from the company, essential regions/countries, products and application, background information from 2013 – 2020 and also prediction to 2023.
- To profile the Leading players in the industry and analyze their growth plans.
- To venture the amount and value of sub-markets, depending on key regions.
- Primary worldwide Antifouling Paints and Coatings Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis, and development plans next coming years.
- To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Precision Farming Market of many Precision Farming Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Precision Farming Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Precision Farming Market competitors.
Mr. Ajay More
Phone: +14242530807 / + 44 20 3239 8187
Email: [email protected]
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