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Global Precision Farming Market Report 2021: Growing Application of Telematics & Growing Government Support for the Adoption of Modern Agricultural Methods – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Global Precision Farming Market Size, Share & Trends Analysis Report by Offering, by Application (Yield Monitoring, Weather Tracking, Field Mapping, Crop Scouting), by Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s providing.

The world precision farming market measurement is anticipated to succeed in USD 16.35 billion by 2028, increasing at a CAGR of 13.1%.

Precision farming, often known as web site-particular crop administration or satellite tv for pc farming, is a farm administration idea that makes use of data expertise to make sure optimum well being and productiveness of crops.

The precision farming approach largely is determined by specialised gear akin to sensing gadgets, antennas and entry factors, and automation and management methods. It additionally includes upkeep providers and managed providers. Additionally, it incorporates a broad vary of applied sciences akin to bio-engineering, robotics and automation, imagery and sensors, and large information.

The rising quantity of functions for telematics in agriculture is anticipated to drive demand for precision farming over the projected interval. Telematics providers embody monitoring gadgets utilizing the Global Navigation Satellite System (GNSS) to indicate the place of the gear for administration functions.

Major producers of agriculture gear are adopting telematics providers for their gear to enhance farm effectivity, thereby decreasing the price of agricultural operations and maximizing profitability. Additionally, improved administration will help cut back environmental affect.

Telematics expertise is used to seize and switch information from the farm gear by way of sensors put in on tractors and different discipline monitoring gear. The growing adoption of telematics methods by agricultural gear firms is predicted to drive market development.

Furthermore, with developments in GPS steerage and automation, drones are poised to remodel the agriculture trade. The capability of drones to exactly analyze the soil at the starting of the crop cycle and detect a plant contaminated with micro organism or fungus is anticipated to propel the development of the drone section.

However, the low charge of expertise adoption amongst farmers is more likely to hamper market development over the forecast interval. This could also be as a consequence of elements akin to the absence of stringent requirements and limitations on the alternate of information.

Furthermore, farmers lack unbiased consulting and advisory providers owing to the absence of validated agronomic fashions for Variable Rate Technology (VRT) to make selections on investments. Independent providers aren’t linked to co-operatives, authorities our bodies, and farmer associations the place farmers can get further data to make improved selections.

Precision Farming Market Report Highlights

  • Increasing authorities help for adopting fashionable agricultural methods and the rising want for effectively monitoring the well being of crops are anticipated to drive market development
  • The cloud-based mostly software program mannequin is anticipated to realize important market share over the projected interval because it reduces power consumption and gives storage for a big quantity of information whereas facilitating price saving
  • Innovations in GPS mapping and associated farming functions are enabling farmers to function extra effectively and enhance their revenue margins
  • Demand for drones is predicted to develop in the agriculture discipline as they’re more and more utilized in monitoring irrigation methods
  • Yield monitoring finds vast functions in soil monitoring because it helps detect the properties of soil for growing yields
  • The digital revolution in the agricultural sector, together with authorities monetary incentives to farms, is more likely to drive demand for precision farming in Europe in the forthcoming years
  • Asia Pacific is predicted to witness the quickest development owing to the availability of the largest agricultural land, which gives development alternatives in international locations akin to China, India, Australia, and Japan
  • Key gamers in the precision agriculture market embody AgEagle Aerial Systems Inc. (Agribotix LLC); Deere and Company; Proagrica (SST Development Group, Inc.); Farmers Edge, Inc.; and Granular, Inc.

Market Dynamics

Market driver evaluation

  • Growing consciousness of precision farming
  • Challenges concerned in agricultural work
  • Growing consciousness of the advantages of agriculture drones
  • Growing authorities help for the adoption of fashionable agricultural strategies

Market restraint evaluation

  • High preliminary capital funding

Market problem evaluation

  • Scarcity of educated farmers
  • Lack of expertise adoption amongst farmers

Market alternative evaluation

  • Growing software of telematics in agriculture

Companies Mentioned

  • Ag Leader Technology
  • AgJunction, Inc.
  • AGCO Corporation
  • AgEagle Aerial Systems Inc. (Agribotix LLC)
  • CropMetrics LLC
  • Deere and Company
  • DICKEY-john Corporation
  • Farmers Edge Inc.
  • Grownetics, Inc.
  • Granular, Inc.
  • Raven Industries, Inc.
  • Proagrica (SST Development Group, Inc.)
  • Trimble, Inc.
  • The Climate Corporation (a subsidiary of Monsanto Company)
  • Topcon Corporation

For extra details about this report go to https://www.researchandmarkets.com/r/3yjhj4