Precision Agriculture Market Size Is Set To Reach USD 11.23 Billion By 2024, At A CAGR Of 13.1% Over The Forecast Years

By Goldstein Market Intelligence || 2018-03-06 1:49:50 AM

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Precision Agriculture: Good Science to Good Practice

The wide availability of low-cost sensors, the advent of sustainable farming technologies that respond to climate change essential, innovations in GPS mapping and related applications, increasing government support for adopting modern agricultural techniques and the growing need for monitoring crop health for yield production are expected to drive the precision farming market demand.

Global Precision Agriculture Market 2016-2024

According to Goldstein Research, Precision Agriculture Market size is set to reach USD 11.23 billion by 2024, at a CAGR of 13.1% over the forecast years owing to the digital revolution in the agricultural sector along with government financial incentives to farms.

Geographically, United States is the dominant precision agriculture market followed by France, the Netherlands, Germany, UK, Canada, Australia, Italy, Belgium and Spain owing to the adoption of site-specific crop management and growing application of telematics in agriculture.

Revolution of Agriculture: Smart Farming is a Growing Market

Bosch is revolutionizing the agriculture technology (agtech) industry by doing more than cars and cordless screwdrivers. They are introducing high tech to the farms and bagged USD 1 billion in agtech sales due to its sensors and connectivity platforms. Bosch is also working in collaboration with Bayer on ‘smart spraying technology’ that can (in ‘lightning speed’) differentiate between crops and weeds by making use of camera sensors and target weeds. Connected agricultural field utilizes sensor technologies in order to provide real-time information, easily accessible via smartphone apps in order to improve monitoring capabilities, without the need for physical inspection and leading to better field management and higher yields. The Bosch IoT Cloud also accredit machinery to communicate potential problems, allowing for early action to avert expensive and costly repairs

Global Precision Agriculture Market

This report contains a detailed overview of the global precision agriculture market in terms of market segmentation by technology, component and application. Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Global Precision Agriculture Market report also provides a competitive outlook for some of the major players which includes profiling of companies such as Agribotix LLC, Deere & Company, SST Development Group, Farmers Edge, Inc and Granular, Inc. 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 represents comprehensive synopsis on the global precision agriculture market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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