Precision Farming Market is projected to Reflect US$ 10 Bn by end 2025

Posted by ashutosh sable on December 21st, 2017

Precision farming is a concept related to the management of farming which observes, measures and responds to inter as well as intra-field inconsistency in crops. The aim of the concept is to introduce a decision support system to the entire farm management with the objective of boosting returns on inputs while maintaining resources. It is observed that innovative farming revolution initiated by the implementation of staggering new technologies

The growth of the global precision farming market is influenced by numerous factors. Machine to machine monitoring fundamentally lets devices to effortlessly connect with each other without any human interference. Therefore, increasing acceptance of M2M monitoring agricultural application is projected to gain significant traction and is prepared to power the growth of global market for precision farming in the forthcoming years. Many agricultural solution providers are focusing on introducing imaging technology sensors and drones than can assist the farmers in maximizing yield capacity and enhancing resource utilization. This development is also expected to drive the growth of the market.

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However, due to expensive precision farming technology, it becomes impossible for smaller farmers in emerging economies and developed regions to afford this technology. Therefore, data aggregation and data management are the key restraints in the global market for precision farming.

The market for precision farming in North America is anticipated to be worth approximately US$ 7.8Bn by end 2025. This makes North America’s precision farming market larger than Middle East and Africa, Latin America, Asia Pacific and Europe market. North America’s market share is expected to be nearly 45% by then, in the global market for precision farming. 

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The extensive research report on the global market for precision farming covers analysis on the major companies active in the global market for precision farming. Key companies such as Ag Leader Technology, Agribotix LLC, SST Development Group, DICKEY-john, senseFly, PrecisionHawk, Topcon Corporation, Iteris, Trimble, Deere & Company, CNH Industrial N.V., Raven Industries Inc., and AgJunction are profiled in this research report.