Report: Precision Agriculture Market Growth Forecast At 14% CAGR To 2019

Analysts forecast global precision agriculture market to grow at a CAGR of 14.43% over the period 2014-2019, according to the recent report “Global Precision Agriculture Market 2015-2019.”

“As farmers worldwide grow increasingly wary of the effects of agriculture on the environment, they are taking steps to conduct agriculture in a sustainable manner,” according to analysts in the report. “Environmental impacts on farming can be reduced significantly using precision farming methodology because it reduces the impact of agricultural pollutants, such as fertilizers and pesticides, on biodiversity and water quality, through prescription farming.”

The complete report spreads across 76 pages, analyzing five major companies and providing 40 data exhibits.

According to the report, with the growing global population, demand for food is rising but the size of arable land is decreasing. Farmers are thus facing the pressure of maximizing production within these limitations and are seeking out progressive techniques to make their farmlands more efficient. These factors combined are expected to drive the popularity of precision farming technologies in the market because they allow more effective management of farmland and thus increase production in a sustainable manner.

The analysts forecast the global precision agriculture market to grow at a CAGR of 14.43% over the period 2014-2019. To calculate the market size, the report considers the revenue generated from sales of the following precision farming products: automation and control systems, sensing and monitoring devices and farm management systems

The key players in the global precision agriculture market are AGCO, AgJunction, Ag Leader, Deere & Co., and Trimble Navigation. And other prominent vendors in the market are CNH Industrial, Derr Equipment, DICKEY-John, Monsanto, MTS Systems, Raven Industries, Site-Specific Technology, and TeeJet.

[Order a copy of Global Precision Agriculture Market 2015 – 2019 report.]

Further, the report states that farm income is a major determinant of the adoption of precision farming services. The farm income in the U.S. has been almost stagnant in the last couple of years. With the reduction in bulk commodity prices of grains and feeds and an increase in fertilizer and seed prices, farmers are faced with pressure on their margin.

A related report for U.S. region published in July 2015 and titled “Precision Farming Market in the US 2015-2019” says the U.S. is a significant producer and exporter of certain agricultural crops, such as corn and soybeans, and thus plays an important part in the global food supply chain. However, the area of arable land in the U.S. has been stagnant, limiting food production potential. Farmers are thus facing pressure to maximize production under strict limitations and are seeking out progressive techniques to make their farmlands more efficient. These factors, collectively, are expected to drive the popularity of precision farming technologies in the market, as they allow farmers to manage their lands more effectively and thus increase production in a sustainable manner. Access the complete report.

The analysts forecast precision farming market in the U.S. to grow at a CAGR of 16.04% during 2014-2019. To calculate the market size, the report considers the revenue generated from the sales of precision farming systems and services.

Apart from the key vendors mentioned above, this report has also profiles Teejet Technologies and Trimble Navigation. And the other prominent vendors in the market are AGCO, CNH Industrial, Derr Equipment, Monsanto, MTS Systems, Raven Industries, Site-Specific Technology Development Group, and Topcon Precision Agriculture.

Leave a Reply

2 comments on “Report: Precision Agriculture Market Growth Forecast At 14% CAGR To 2019

  1. The outlook is encouraging, but these expectations are met we must have our crops to the forefront, I in my case as cucumber producer of a variety, I use agricultural mesh (https://www.hortomallas.com/en) to tutor my crops and remarkably product quality improvement, this technology in the insurance fields is to be met in forecast raised in the article

    thanks

Business Management Stories
Retailer-Grower-tablet
Business ManagementTaking Measure of the Precision Agriculture Program: 6 Key Observations
July 12, 2018
In the overall agriculture market, the rhetoric surrounding emerging technology over the past half-decade has been nothing short of breathless. Read More
computer-in-field
Business Management3 Questions to Ask When Looking for Your First Job in Precision Agriculture
June 18, 2018
Let me begin this column by extending my congratulations to all of my fellow students who have just graduated – Read More
Grower-Laptop
Business ManagementOpinion: Stumpin’ for Rural Broadband
April 30, 2018
In 1936, deep in the throes of the Great Depression, the federal government moved forward with an initiative that would Read More
Digital-Farming
Business Management7 Factors That Could Make or Break Digital Farming
April 13, 2018
Digital farming is the new technology genie – a genie that is now out of the bottle and cannot be Read More
Trending Articles
ISPA-Yoshua-Bengio
EventsHighlights from the 14th International Conference on Precision Agriculture
July 9, 2018
The 14th International Conference on Precision Agriculture (ICPA) presented by the International Society of Precision Agriculture (ISPA) was held in Montreal, Read More
Topcon X30 Console in cab
EventsAssociation Seeks Definitive Definition of “Precision Agriculture” — What’s Your Vote?
July 2, 2018
More than two-dozen definitions of precision agriculture have been identified through the years — but which is the best and Read More
AmericasRaven Name to Grace New South Dakota State University Facility
June 27, 2018
According to a press release issued by the company, Raven Industries was recognized today in the naming of South Dakota Read More
dropcopter
DronesNew York Apple Orchard Claims World First in Pollination by Drone
June 18, 2018
Beak & Skiff Apple Orchard in LaFayette, NY, is the first orchard in the world to use drones to pollinate Read More
JDandPessl
Sensors/IoTJohn Deere, Pessl Instruments Team Up to Create Opportunities
June 18, 2018
John Deere is best known for its line of tractors, combines, sprayers, and implements. However, in an effort to help Read More
Matt-Waits-featured
Decision Support SoftwareSST’s Matt Waits: Innovative Data Solutions Key to Transforming Global Agriculture
May 31, 2018
Proagrica, part of RELX Group, earlier this year acquired U.S.-based precision agriculture solutions company, SST Software, in a move set Read More
Latest News
Tools & Smart EquipmentCanadian Planter Manufacturer Purchases Harvest Interna…
July 19, 2018
Seeding and planting technology innovator Clean Seed has signed an agreement to strategically acquire U.S. planting equipment manufacturer Harvest International, Read More
Data ManagementInfoAg News: Farmobile Launches DataEngine, Streamlines…
July 17, 2018
Busy times these days out in Overland Park Leawood, KS, for ag data startup Farmobile, as they continue to – Read More
Agrible
Grower Services & SolutionsNutrien Drops $63 Million to Acquire Agrible
July 16, 2018
Nutrien announced today that it has entered into a definitive agreement to acquire Agrible for total consideration of $63 million, Read More
Industry NewsFarmobile Acquires Prime Meridian, Taps Cubbage as New …
July 13, 2018
Farmobile today announced an agreement to acquire the assets of Prime Meridian, a precision agriculture data management company based in Read More
group-photo
DronesPrecision Agriculture Takes Flight at North Carolina St…
July 13, 2018
Take a walk into the Suggs Laboratory for Precision Agriculture and Machine Systems and it’s hard not to be impressed, Read More
Skeketee-IC-Weeder
DronesAutomated Weeders Have Arrived in Vegetable Fields
July 12, 2018
The vegetable production areas of the Central Coast of California have lifted vegetable cultivation to a high art, writes Richard Read More
AgJunction, InfoAg 2014, Autosteer, GPS
Industry NewsAgJunction Settles with Raven in Patent Infringement Su…
July 12, 2018
AgJunction Inc., a leader in advanced guidance and autosteering, has settled a patent infringement lawsuit it filed against Raven Industries, Read More
Retailer-Grower-tablet
Business ManagementTaking Measure of the Precision Agriculture Program: 6 …
July 12, 2018
In the overall agriculture market, the rhetoric surrounding emerging technology over the past half-decade has been nothing short of breathless. Read More
raven-slingshot-job-generator-job-sync-1
Industry NewsNew Raven Slingshot Advancements Will Help Save Time, R…
July 11, 2018
Raven Industries, Inc. has announced several new services available on the Slingshot and Viper 4 platforms: Job Generator and Job Read More
Onsite-logo
Industry NewsAgIntegrated Acquires Exclusive Licence to Satshot’s Im…
July 11, 2018
AgIntegrated, Inc. (AGI), a leader in precision ag data integration and software development, and Satshot, a leader and pioneer in Read More
Australian Harvest
Australia/New ZealandAustralian Agritech Plants Blockchain for Efficiency
July 11, 2018
“Agritech” at one time would have meant new equipment such as tractors and combine harvesters, but today it refers to Read More
Tomato-crop-India
AsiaIndia: Using Artificial Intelligence for the Good of Fa…
July 11, 2018
After graduating from IIT-Madras, the first thing that Vivek Rajkumar did was to buy four acres near Thiruvananthapuram and start Read More
BrightFarms
Industry NewsForbes List of Innovative Ag-Tech Companies Includes Gr…
July 9, 2018
Forbes magazine recently posted a list of the 25 most innovative ag-tech startups in 2018, which includes a few companies Read More
AmericasNutrien Ag Solutions Brand, New Digital Platform Launch…
July 9, 2018
Nutrien (formerly Crop Production Services) has officially rebranded its retail business to Nutrien Ag Solutions, aligning the company’s retail operations Read More
ISPA-Yoshua-Bengio
EventsHighlights from the 14th International Conference on Pr…
July 9, 2018
The 14th International Conference on Precision Agriculture (ICPA) presented by the International Society of Precision Agriculture (ISPA) was held in Montreal, Read More
TerrAvion
Industry NewsTerrAvion Integrates Aerial Imagery with John Deere Ope…
July 6, 2018
TerrAvion, Inc., a large volume provider of aerial imagery to agriculture, has announced an integration to allow TerrAvion’s aerial imagery Read More
Farmer-Tablet
Data ManagementAgriculture’s Next Breakthrough: New Technologies…
July 3, 2018
We live in an exciting time in agriculture. Not only is technology advancing rapidly, but the understanding and comprehension of Read More
Nebraska-Storm
Precision IrrigationNotes from the Field: A Look at Irrigation Management P…
July 2, 2018
One of the things I love most about my work is making periodic treks into the field – more often Read More