Precision Farming Market Analysis, Trends, Size & Forecast Report 2027

Posted on 2022-01-18 by researchinsights in Technology // 0 Comments

Felton, California , USA, Jan 18 2022 — /EPR Network/ — Global Precision Farming Market study includes In-depth Analysis of the market by latest technologies, trends, opportunities, challenges, key players and business strategies considering types, segment, and future analysis. The Precision farming Market Report Provides Growth History, Sales Channel, Manufacturers Profiled in Precision farming Business, Market Share of Product, Application and Regional Scope of Precision farming which makes the research report a helpful resource for marketing people, forecasters, industry executives & consultants, sales, product managers, Strategy Advisor, potential investors to understand the present as well as future market size, situations in terms of growth rate and revenue. This report will help the viewer in Better Decision Making.

The global precision farming market is projected to reach USD 12.9 billion by 2027 with a CAGR of 13.0%, according to a new report published by Million Insights. Precision farming is known as site-specific crop management and satellite farming, which is a smart farming technique that uses information technologies such as IoT, GIS, GPS and remote sensing tools. These tools collect a large amount of essential information, which helps farmers in making efficient decisions regarding crop planting, fertilizing, and harvesting. Thus, these benefits are expected to propel the market growth in the forthcoming years. Furthermore, precision farming systems include sensing devices, antennas & access points, and automation & control systems. Additionally, it is equipped with a wide range of innovative technologies such as cloud computing, big data, robotics & automation, bio-engineering, and imagery & sensors. These advancements are anticipated to upsurge the market growth during the forecast period, 2020 to 2027.

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Rising adoption of telematics and soil sensors in the agricultural sector is expected to fuel the precision agriculture market growth in the forthcoming years. Soil sensors are used for measuring the various important soil properties, which helps farmer while sowing the seeds. The telematics services use the global navigation satellite system (GNSS), for the tracking farming equipment. Additionally, various manufacturers of farming equipment are incorporating telematics services, in order to enhance their farming efficiency. Moreover, it reduces the operational cost of agriculture and maximizes profitability. The telematics technology is used for capturing and transferring the data from the farm tools to the sensors which are incorporated on the tractors and various other field monitoring tools. The rising adoption of telematics technologies by the agricultural equipment manufacturing companies is projected to accelerate the demand for precision farming solutions.

The global precision farming market is projected to see the substantial growth over the forecast period, owing to a heavy investment made by leading players in the R&D activities and rising incorporation of advance technologies like Internet of Things (IoT), AI and ML in the precision framing systems. Furthermore, the fluctuating weather conditions, owing to rising global warming, have forced farmers to adopt the advanced technologies, in order to improve the productivity and crop yield. The rising adoption of technologies like weather forecasting, optimal field management, real-time farm monitoring, and various others are helping farmers to upsurge the yield with low operational cost and minimize human efforts. Furthermore, the technology allowing farmers to manage the resources and access the real-time information with the help of smartphones, thus, providing greater flexibility and ease of operation. However, the lack of awareness and high cost of the systems are expected to restrain the market growth in the forthcoming years.

The report “Precision Farming Market Size, Share & Trends Analysis Report By Offering, By Application (Yield Monitoring, Weather Tracking, Field Mapping, Crop Scouting), By Region, And Segment Forecasts, 2020 – 2027” is available now to Million Insights, customers and can also be purchased directly from: XX

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