Precision Farming Market to Grow Rapidly Owing to Rising Adoption of Drone Technology to Monitor Crops, Identify Planting Flaws, Detect & Control Pests Till 2025 | Million Insights

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Sep 23, 2019, 06:20 ET

FELTON, California, Sept. 23, 2019 /PRNewswire/ -- The global Precision Farming/Agriculture Market is expected to witness a major overhaul in the years to come. This could be credited to the fact that precision farming holds potential of increasing crop yield using next level IT-based farming methods. The precision farming market is also getting catalyzed by excessive use of IoT in farming. As such, farm producers and managers are encashing on capacities of IoT devices like automated steering systems, GNSS & GPS systems, and sensors for files mapping, temperature monitoring, soil sampling, irrigation management, and various other applications. The devices mentioned above do make way for real-time insights on ways of improving agricultural practices for more efficiency.

The ever-increasing adoption of drone technology to monitor crops, identify planting flaws, and detect and control diseases and pests is the other factor driving the precision farming market. For example – QuestUAV, in May 2017, did launch "DATAhawkAG", an all-round package to enable mapping of precision farming. Q-100 DATA hawkAG, on being equipped with MicaSense RedEdge camera, does help in capturing images in 5 diverse spectral bands; thereby detecting patterns pertaining to nutrient content and plant stress.

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The precision agriculture market is segmented based on component, technology, application, and geography. By component, the segmentation spans hardware (sensors, automated steering system, drones, camera, UAV, mobile device, GNSS & GPS, and others), software, and service (consulting & training, maintenance & updates, managed services, integration, and other professional service). By technology, the market comprises high precision positioning system, geomapping, remote sensing, integrated electronic communication, and VRT. By application, the segmentation constitutes weather monitoring, yield monitoring, field monitoring, irrigation management, waste management, financial management, and others.

By geography, the segmentation says North America, Europe, Asia Pacific, LATAM, and MEA. North America holds the largest market share; thanks to growing awareness regarding crop quality coupled with initiatives by the federal government of the U.S. to bring about innovation. Plus, in 2018, the same government did pass "Precision Agriculture Connectivity Act" for meeting connectivity requirements in this regard. Asia Pacific comes in second.

The players contributing to the precision farming market include Topcon Positioning Systems, Inc.; Raven Industries, Inc.; Trimble Navigation Ltd.; Precision Planting; Monsanto Company; GEA Group AG; CropX Inc.; Farmers Edge Inc.; Delaval Corporation; Dickey-John Corporation; Deere & Company; AgSmarts Inc.; CropMetrics LLC; AGCO Corporation; Boumatic LLC; AgSense LLC; and Agribotix LLC. Inorganic growth is on the anvil. For instance – AGCO, in Sep 2017, acquired Precision Planting LLC equipment business from "The Climate Corporation" (Monsanto Corporation's subsidiary). The basic objective of this acquisition was to strengthen ACGO's position as full-line partner for farmers at the global level.

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Market Segment:

Precision Farming Offering Outlook (Revenue, USD Million, 2014 - 2025)

Hardware

Automation & Control Systems
Drones
Application Control Devices
Guidance Systems

Remote Sensing

Handheld
Satellite Sensing

Driverless tractors
Mobile Devices
VRT

Map-based
Sensor-based

Wireless Modules

Bluetooth Technology
Wi-Fi Technology
Zigbee Technology
RF Technology

Sensing Devices

Soil Sensor

Nutrient Sensor
Moisture Sensor
Temperature Senso

Water Sensor
Climate Sensor
Other

Antennas & Access Points

Software

Web-base
Cloud-based

Services

System Integration & Consulting
Maintenance & Support
Managed Services
Data Services
Analytic Services
Farm Operation Services
Assisted Professional Services
Supply Chain Management Services
Climate Information Services

Precision Farming Application Outlook (Revenue, USD Million, 2014 - 2025)

Yield Monitoring

On-far
Off-farm

Field Mapping
Crop Scouting
Weather Tracking & Forecasting
Irrigation Management
Inventory Management
Farm Labor Management

Precision Farming Regional Outlook (Revenue, USD Million, 2014 - 2025)

North America

U.S.
Canad
Mexico

Europe

Germany
U.K.
France
Russi
Italy

Asia Pacific

China
India
Japan
Australi
Singapore

South Americ

Brazil

Middle East and Africa (MEA)

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