Research and Markets has announced the addition of the “World Precision Agriculture Market – Opportunities and Forecasts, 2014 – 2022” report to their offering.
Precision agriculture is a farming management technique used to improve site specific farming through evaluation of overall field conditions with the help of real-time availability of farm information. Rapid development in the agriculture industry has swiftly increased the adoption of precision agriculture techniques. Additionally, this technique helps in analyzing the weather patterns, temperature, humidity level, soil nutrition, and growth of the crop by using various components for instance sensors, GPS and Radar.
Precision agriculture is gaining popularity among farmers due to increasing demand for optimum production at less cost. Moreover, the agriculture industry is also affected by global warming as it plays an important role in changing weather patterns. Precision agriculture helps the farmers in effective decision making and in increasing the crop production by maintaining the level of water, fertilizers and pesticides.
Therefore, the increasing demand for effective monitoring of the crops is fueling the market growth, which is further supported by increasing population. However, lack of awareness about the benefits of the precision agriculture among farmers is observed as one of the major restraints for the world precision agriculture market.
The precision agriculture market is segmented on the basis of technology, component and geography. The technology segment is categorized into GPS, GIS, telematics, mapping, VRT and others. In addition, the component segment is bifurcated into hardware (sensors, drones, automated steering system, radar, GPS and others) and software (GIS, crop management software, weather tracking and forecasting software, inventory management software, people management software and financial management software). Based on geography, the precision agriculture market is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Scope of the Report:
Market by Technology:
Market by Component:
- Automated steering system
- Crop management software
- Weather tracking and forecasting software
- Inventory management software
- People management software
- Financial management software
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