Latest Report on Precision Farming Market by Goldstein Research

Posted on 2018-11-19 by Goldstein Research in Agriculture // 0 Comments

New York,USA, 2018-Nov-19 — /EPR Network/ —

According to Goldstein Research, major driving factor for the expansion of Smart Agriculture Market is the rising prevalence of yield monitoring systems for mechanical harvesters and sensors that detect disease and tree stress at early stages of development. Global Smart Farming Market Outlook also includes product development, marketing strategy and investment strategies adopted by major market players in order to expand their business across the globe. Further, one trend in market is penetration of agricultural robots market to transform the management of farms, vineyards, orchards, forests, and livestock.

Precision agriculture can be done for specific purpose or general purpose. Such as reduction of lime application in Australia was targeted, which in 2017 was dropped by 33% as surveyed over 75,000 hectares land in Southern NSW and Victoria. Global companies such as Agrian Inc. are expanding to Australia to tap the huge opportunities available by introducing advanced and innovative technology. This signifies the growing agriculture industry of Australia in terms of not only crop protection, production and productivity but also the growth of food and beverages industry. Goldstein Research analyst forecast that the Australia precision agriculture market is set to reach USD 0.8 billion, growing at a CAGR of 15.1% over the forecast period (2017-2025).

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Market Segmentation

Global precision farming market can be segmented as follows:

By Technology

Integrated electronic communications (Telematics)
GIS (Geographic Information Science)
Automated steering systems
Assisted steering systems
Automated steering systems
Intelligent guidance systems
VRT (Variable Rate Technology)
GPS (Global Positioning System)
Remote Sensing

By Component

Hardware
Sensors (soil, water & climate)
Drones
Automated Steering System
Radar
GPS (Global Positioning System)
Service
Installation and Integrations Service
Maintenance Service
Consulting Service
Software
GIS (Geographic Information Science)
Crop Management Software
Weather Tracking
Inventory
People & Financial Management

By Application

Yield monitoring
On-farm
Off-farm
Field mapping
Crop scouting
Weather tracking & forecasting
Irrigation management
Inventory management
Farm labor management

Based on Geography

North America (U.S. & Canada) Precision agriculture Market {Market Share (%), Market Size(USD Billion)}
Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Precision agriculture Market {Market Share (%), Market Size(USD Billion)}
Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden &RoE) Precision agriculture Market {Market Share (%), Market Size(USD Billion)}
Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Precision agriculture Market {Market Share (%), Market Size(USD Billion)}
Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Precision agriculture Market {Market Share (%), Market Size(USD Billion)}

On the other hand, the changing nature of farming land and the environment is the major challenge faced by the agricultural industry which has led to growth in the penetration of technology. New markets that are in its way towards agriculture are artificial intelligence (AI) market and machine learning as a service market. Government is also actively initiating projects and activities to create awareness and to improve the agricultural development. Acquisitions and partnerships between public and private sector are promoting investment for implementation of internet of things (IoT) in agriculture and technology based agriculture projects. Such agriculture projects are likely to enhance the IoT in agriculture market. The global IoT in agriculture market valued USD 4.40 billion in 2015 and is projected to grow at CAGR of 28.30% during the forecast period.

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“Global Precision Agriculture Market Outlook 2024” contains a detailed overview of the global precision farming market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by technology, by component and by applications.

Further, for the exhaustive study, Global Precision Agriculture Market Report covers the industry growth drivers, risk analysis, market challenges, market attractiveness, Porter’s five force model, BPS (Base Point Scale) analysis and SWOT analysis. This market analysis also comprises competitive outlook of some of the major players profiling such as Bosch, Intel, Cisco, Intel, Agribotix LLC, Deere & Company, SST Development Group. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report embodies the global precision farming market size along with a market estimate that will aid industry consultants, technology providers, existing players searching for expansion opportunities, new players examining possibilities and other stakeholders to bring into line their market-centric approaches according to the ongoing and expected trends in the future.

Key queries countered in this global precision agriculture market report

What is the global precision agriculture market size by 2024 and what would be the expected growth rate of sales?
What are the precision agriculture market trends?
What are the dynamics which are driving this market?
What are the major barriers to precision agriculture market growth?
Who are the prominent vendors in this market space?
What are the market prospects for the current and entry level players?

About Goldstein Research

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Our analysts working on advance future technology industry analysis to help various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.