Global Precision Farming Market Overview

The Global Precision Farming market is expected to reach USD 12.8 Billion by the end of the forecast period with a CAGR of 12.7%. Government initiatives to improve ranchers' competence through new advances, as well as the changing environment, rising interest for food, and expanding the appropriation of intelligent improvements in the global agribusiness sector, are all driving the acceptance of precision farming. Depending on the administration's suppliers in these domains, the appropriation pattern varies across diverse fields in terms of innovation and speculation.

Because of the COVID-19 pandemic, as well as development limitations and lockdowns, precision agricultural data are necessary to observe a minimum dunk in 2020. It caused disruptions in the store network and a shortage of equipment; however, the use of remote detecting and homestead the board programming instruments could result in increased selection in the post-COVID-19 period. Coronavirus has disrupted the store network in the precision farming industry, and businesses are looking for new ways to collaborate with growers and ranchers by leveraging technology.

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Industry News

The major Global Precision Farming market key players in the Precision Farming Market are Ag Junction Inc., AGCO Corporation, DICKEY-john Corporation, John Deere, and TeeJet Technologies. There are just a few major companies in the precision farming business. In terms of a piece of the pie, the market is currently dominated by a small number of major firms. These major businesses are focusing on expanding their client base throughout far-flung countries, with a prominent offer on the horizon. These businesses are leveraging critical group activities to increase their share of the pie and productivity. Corporations in the Precision Farming Market are also gaining new companies that deal with precision farming improvements to bolster their item abilities.

Key Players:

The prominent players identified in the Precision Farming Market of Precision Farming are- AGCO Corporation (U.S.), Deere Company (U.S.), AG Leader Technology (U.S.), AgEagle Aerial Systems (U.S.), Aglytix Inc. (U.S.), AgGateway (U.S.), Precision Planting (U.S.), AgJunction Inc. (U.S.), Agribotix (U.S.), Dickey-John Corporation (U.S.) among others. Some other players in this market are- Raven Industries, Topcon Positioning Systems, Inc., AquaSpy, CropMetrics, Farmobile, Granular, IBM Watson among others.

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Market Segmentations

Precision Farming Market, By Type

Control frameworks and automation right now address the central portion as they help offer dependable, diminishing work costs and reliable execution, improving productivity just as the Precision of horticultural tasks. Sensory and Monitoring Devices, Farm Management Systems

Precision Farming Market, By Application

According to the Precision Farming Market’s application, Crop Scouting, Yield Monitoring, Soil Monitoring, Precision Irrigation, and others.

Yield monitoring is the most significant application region and helps estimate record data dependent on grain stream, grain dampness, and covered farm region.

Precision Farming Market, By Component

Precision Farming Market by technology and component the market is segmented into Hardware and software. Because of the segment, equipment is the main fragment since the continuous development in innovation has brought about new gadgets with better area and information preparing capacities.

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Precision Farming Market– Geographical Analysis

The global Precision Farming Market is dominated by North America. U.S. holds largest market share in North America followed by Canada. The main factor which supports this is presence of key companies in this region which gives North America a competitive advantage over other countries. Also government of North America countries are promoting use of advance technology in the agriculture for low emission of greenhouse gases into environment. North America is also technologically advance country as compare to other countries which also gives a lead. Europe stands as second biggest Precision Farming Market.

Presence of developed nations such U.K. Germany, France and Italy generates most of the revenue in segment of precision farming in Europe. Also, farming culture in Europe is very rich and farmers are adopting new technologies to maximize their yield and profits. Growing application areas of precision farming is leading to wide adoption in the Europe region. Asia-Pacific has emerged as fastest growing market for the precision market. Growing economy of Asian countries such as China and India and high dependency on agriculture are some of the factors which is supporting the adoption of precision farming in Asia-Pacific.