Research and Markets - Precision Agriculture Market Analysis And Segment Forecasts, 2014 - 2025: Leading Players are AG Leader Technology, AGCO Corporation, Agjunction, Inc., Deere & Company and Trimble
The global precision agriculture market is expected to reach USD 43.4 billion by 2025
Precision agriculture is a farming technique which enables the efficient farming and improves the productivity with the application of various technologies. The technology provides the sustainable management of the resources for enhancing the food productivity.
Precision farming is one of the farming techniques associated with the management of the nutrients, crop, soil, water and environmental factors. The agriculture is also known as satellite farming and site specific crop management (SSCM). The technology utilizes various technologies which include geographical information system (GIS), global positioning system (GPS), and remote sensing for collecting the critical information in regards to planting, crop fertilizing, and harvesting.
Additionally, sensors are placed throughout the field for measuring the nutrition level, temperature and humidity of the soil. The technology automates the crucial processes eliminating the need for manual efforts which include real-time farm monitoring and information sharing. Furthermore, gradually changing weather condition owing to global warming, has also led to the adoption of technologies for enhancing the productivity and crop yield.
The precision agriculture enables the farmers to enhance the yield with minimum wastage owing to the technologies offered which include weather forecasting and real-time monitoring through the mobile phones thereby offering ease of operation and greater mobility. The increasing penetration of telematics technologies is also anticipated to further drive the industry growth over the forecast period. The telematics technology provides the information about the fuel usage, location, and speed of the machinery, improving the efficiency and yield.
The leading players in the market include AG Leader Technology, AGCO Corporation, Agjunction, Inc., Deere & Company and Trimble Inc. Acquisitions, partnerships and product launch are observed to be the strategies adopted by the companies to maintain their dominance and strengthen the position in the industry.
3. Precision Agriculture Industry Outlook 3.1. Market Segmentation & Scope 3.2. Precision Agriculture Market Size and Growth Prospects 3.3. Precision Agriculture - Value Chain Analysis 3.4. Precision Agriculture-Market Dynamics 3.5. Market Driver Analysis 3.5.1. Increasing adoption of new technologies in farming 3.5.2. Increasing need for monitoring crop health for yield production 3.5.3. Government support for adopting the modern technologies 3.6. Market Restraint Analysis 3.6.1. Lack of awareness and knowledge in precision farming 3.7. Key Opportunities Prioritized 3.8. Industry Analysis - Porter's 3.9. Precision Agriculture- Key Company Analysis, 2015 3.10. Precision Agriculture - PEST Analysis