London, 13 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the precision farming market in the US 2015-2019, which is poised to grow at a CAGR of 16.04% in the US during 2014-2019.
“Guidance and auto-steering technologies are providing significant benefits to farmers by reducing application overlaps by field equipment, the latter of which adds to their costs,” says Faisal Ghaus, Vice President of Technavio.
“Variable rate application equipment is also being used increasingly. It allows farmers to tailor inputs for each area of a field based on the soil type and historical crop yield, minimizing costs and increasing profitability per area.”
Key Market Drivers
- Growing Awareness and Acceptance
- Need to Maximize Food Production
- Optimization of Inputs
- Control over Farm Data
Key Market Trends
- Shift toward Sustainable Agriculture
- Increase in M&A and Investments
- Increased Adoption of Auto-Steering and Variable Rate Controls
- Growing Prominence of Telematics Technologies
Key Market Vendors
- Ag Leader Technology Inc.
- AgJunction Inc.
- Deere and Co.
- DICKEY-john Corp.
- TeeJet Technologies Illinois LLC
- Trimble Navigation Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
