This market research report includes a detailed segmentation of the precision agriculture market by product type (farm management systems, sensing and monitoring devices, and automation and control systems). It outlines the market shares for key regions such as APAC, Europe, Latin America, MEA, and North America. The key vendors analyzed in this report are AGCO, AgJunction, Ag Leader, Deere & Co, and Trimble Navigation.
Technavio has released updated information on the agriculture market, with the publication of its new market research report, global precision agriculture market. The global precision agriculture market is expected to grow at a CAGR of 14% between 2015 and 2019, owing to the limitations of land use and the need to maximize food production are driving the growth of this market. North Americas leads the global market for precision agriculture, accounting for 69% of the overall market share. The high costs of labor in this region are driving the market growth for precision farming. The USDA (United States Department of Agriculture), NASA, and NOAA (National Oceanic and Atmospheric Administration) are the key agencies contributing to precision farming revolution in large-scale agriculture in this region.
“Factors like improved education and computer literacy among farmers have increased the adoption of precision farming technologies in the recent years. For instance, variable-rate technology (VRT) facilitate control of the timing, quantity, and placement of inputs for any given area on the farm. This allows for better efficiency of planting because it allows farmers to optimize and customize inputs and reduce the misapplication of products. Moreover, the telematics technologies provides the location, fuel usage, speed, and condition of the machinery and can help improve the efficiency and yield through smooth operations,” says Faizan Akhtar, Industry Manager, New Coverage, Technavio Research.
The automation and control systems segment leads the market, with 51% of the total market share. The report predicts this segment to retain its leadership until the end of 2019. This segment includes display systems, guidance and steering, GPS/GNNS system, and flow and application devices.
The leading vendors in the global precision agriculture market include AGCO, AgJunction, Ag Leader, Deere & Co, and Trimble Navigation. The market is dominated by international providers. These vendors compete on the basis of cost, efficiency, ease of use, and customer access, of the systems and services. The competitive environment in this market is expected to intensify further due to the increase in product/service extensions, technological innovations, and mergers. International players are anticipated to grow inorganically by acquiring regional or local players.
A more detailed analysis is available in the Technavio report, Global Precision Agriculture Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
Other related reports:
- Precision Farming Market in the US 2015-2019
- Global Agricultural Robots Market- Market Research 2015-2019
- Agricultural Machinery Market in India 2015-2019
- Global Agroscience Market 2015-2019
- Global Feed Enzymes Market 2015-2019
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