MarkNtel Advisors recently published a detailed industry analysis of the Global Precision Agriculture. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Precision Agriculture, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Precision Agriculture Market size was valued at around USD 10.43 billion in 2023 and is projected to grow at a CAGR of around 13% during the forecast period, i.e., 2024-30.
Key Findings in Global Precision Agriculture:
- Historical Analysis: 2019–2022
- Base Year: 2023
- Forecast Period: 2024–2030
Leading Market Players-
Deere & Company, CropMetrics LLC, Trimble Navigation Limited, Ag Leader Technology, AgJunction, Inc., AgEagle Aerial Systems Inc. (Agribotix LLC), DICKEY-john Corporation, Farmers Edge Inc., Grownetics, Inc., Granular, Inc.
Key Highlights of the Report
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the Global Precision Agriculture industry?
Need for Sustainable Farming Practices Driving Market Growth – The global market for precision agriculture is growing due to the increased demand for sustainable agricultural practices. Using efficient and sustainable farming methods is becoming increasingly essential as concerns regarding resource shortages, climate change, and environmental degradation rise. This requirement is met by using precision agriculture, which gives farmers the capacity to use assets like water, fertilizer, and insecticides as effectively as feasible. Technologies that allow correct application of inputs, decrease waste and minimize adverse environmental effects include remote sensing, data analytics, and GPS-guided tools. Precision agriculture contributes to decreased greenhouse gas emissions, soil health, and water conservation through increasing resource efficiency.
Furthermore, government regulations and incentives are supporting the increasing adoption of sustainable agricultural practices. The market is witnessing growth & expansion because of this emphasis on sustainability, which helps in meeting regulatory requirements and also satisfies farmers’ preferences.
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What segments define the Global Precision Agriculture from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Offering
- Hardware
- Automation and Control System
- GPS/GNSS System
- Guidance and Steering System
- Flow and Application Rate Control Solutions
- Handheld Computers/ Mobile devices
- Agriculture Cameras
- Others
- Sensing and Monitoring
- Yield Monitors
- Sensing Systems
- Other Hardware
- Automation and Control System
- Software
- Services
- Integration and Deployment
- Maintenance and Repair
- Other Services
According to report, The hardware segment acquired the largest share in the Global Precision Agriculture Market in the past few years due to the burgeoning use of hardware devices, such as sensors, drones, yield monitors, smartphones, and cameras installed on agricultural equipment like harvesters and tractors.
By Application
- Precision Irrigation
- Field Monitoring
- Precision Spraying
- Precision Fertilization
- Precision Planting
- Data Management
- Other Applications
By Agricultural Produce
- Cereals
- Oil Crops
- Roots, Tuber, and Plantains
- Industrial Crops
- Fruits
- Vegetables
- Nuts
- Others
By Technology
- Guidance System
- Variable Rate Technology (VRT)
- Remote Sensing
- Data Analytics
According to report, One of the fastest-growing segments of the Global Precision Agriculture Market is variable rate technology (VRT). VRT segment has captured the largest market share in the precision agriculture industry.
Explore the Complete Global Precision Agriculture Analysis Report – https://www.marknteladvisors.com/research-library/global-precision-agriculture-market.html
Geographical Analysis: Global Precision Agriculture
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The Global Precision Agriculture Industry Recent Development:
In May 2024: The National Sorghum Producers (NSP) and Farmers Edge, a pure-play digital ag firm, are thrilled to announce a new strategic relationship intended to improve sustainable farming practices for sorghum producers.
In July 2023: Smart Apply, Inc. (US), a manufacturer of precision spraying equipment, has been acquired by Deere & Company. By acquiring this business, the company hopes to increase its focus on high-value crop dealers and clients and expand the array of services it offers to help producers address their main issues with labor, input prices, and regulatory compliance.
In May 2023: AgEagle Aerial Systems Inc., a global provider of agricultural technology solutions, announced that it has partnered with Wingtra AG on a new supply arrangement. It is anticipated that the two-year supply deal would safely deliver RedEdge-P sensor modules for WingtraOne VTOL drone integration.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Global Precision Agriculture?
- How is the Global Precision Agriculture expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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