SAN FRANCISCO, Nov. 18, 2020 /PRNewswire/ -- The global precision viticulture market size is expected to reach USD 2.55 billion by 2027, registering a CAGR of 9.2% from 2020 to 2027, according to a new report by Grand View Research, Inc. The increasing focus of farmers on ensuring farm productivity coupled with the rising need to monitor grape quality is the key factor driving the adoption of advanced technology solutions at vineyards. Moreover, the demand for high-quality grapes from vine manufacturing companies is further encouraging vineyard owners to adopt precision viticulture technologies at vineyards.
Key suggestions from the report:
- The hardware segment held the largest market share in 2019 owing to the increasing use of technologies such as Global Positioning System (GPS), environmental sensors, drones, and remote sensing for capturing high-resolution spatial data
- The cloud-based software segment is anticipated to register the highest CAGR during the forecast period. Elimination of infrastructure cost is the key factor driving the growth of the segment
- Guidance systems held the largest revenue share of 29.4% in 2019 owing to greater use of GPS systems for capturing and recording highly analytical spatial data
- Europe accounted for the largest revenue share in 2019, followed by the Asia Pacific and the Middle East and Africa. The presence of large vineyards and increased adoption of precision viticulture technologies among growers in the region are the primary factors supporting high regional market share
- Some of the prominent players in the market include Deere & Company, Trimble, Topcon, Teejet Technologies, and Aha Viticulture
Read 80 page research report with ToC on "Precision Viticulture Market Size, Share & Trends Analysis Report By Component, By Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking & Forecasting), By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/precision-viticulture-market
Precision viticulture also includes the use of services including system integration and consulting, farm operation services, supply chain management services, and climate information services, for grape cultivation. These services are provided to the vineyard owner for assisting in the proper implementation and integration of precision technologies in vineyard practices. Moreover, the companies also offer data and analytics services that provide an in-depth analysis of the vineyards based on the data collected by different hardware and software components. The need for quality produce and better farm management is propelling the demand for precision viticulture technologies worldwide.
Moreover, the use of drones has been increasing over the years owing to the advancements in guidance systems in combination with automation. Drones provide real-time imagery and state of the crops and soil. This helps growers take preventive action to avert crop damage by analyzing/monitoring crops and identify areas where the crop is infected or has chances of failure. Vine grapes are considered high-value crops and therefore require proper maintenance and monitoring. Thus, the adoption of technologies in vineyard practices is anticipated to further witness growth during the forecast period.
Grand View Research has segmented the global precision viticulture market based on component, application, and region:
- Precision Viticulture Component Outlook (Revenue, USD Million, 2016 - 2027)
- Application Control Device
- Guidance System
- Remote Sensing
- Variable Rate Technology (VRT)
- Driverless Tractors
- Mobile Devices
- System Integration & Consulting
- Managed Services
- Farm Operation Services
- Data Services
- Analytic Services
- Assisted Professional Services
- Supply Chain Management Services
- Climate Information Services
- Precision Viticulture Application Outlook (Revenue, USD Million, 2016 - 2027)
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking & Forecasting
- Irrigation Management
- Inventory Management
- Farm Labor Services
- Precision Viticulture Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- The U.S.
- The U.K.
- Asia Pacific
- South America
- Middle East & Africa
List of Key Players of Precision Viticulture Market
- Deere & Company
- Deveron UAS
- Groupe ICV
- Atlas Vineyard Management, Inc.
- Teejet Technologies
- Ateknea Solutions
- Aha Viticulture
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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