Dublin, Nov. 03, 2020 (GLOBE NEWSWIRE) -- The "Global Precision Agriculture Market: Focus on Solution, Technology, Crop Type, Application, Robots Type & Business Model, Drones Type & Application, Funding, Patents - Analysis and Forecast, 2019-2025" report has been added to ResearchAndMarkets.com's offering.
The precision agriculture market is expected to reach $11,106.7 million by 2025, rising at a CAGR of 13.97% from 2019 to 2025.
The market growth is largely attributed to the growing need to adopt site-specific farming solutions to manage the raw materials and resources effectively. The added benefits of these advanced solutions are low labor costs, integration, and accessibility associated with precision agriculture, and these factors are also expected to be responsible for the reported growth of the market.
Precision agriculture is considered to be an advanced technological change in the farming sector, adapted to improve crop yield and reduce labor shortage to meet the global food demand. The advanced technology and techniques enable the farmers to optimize the usage of resources, such as fertilizers, seeds, water, and pesticides. The agriculture industry has been witnessing a revolutionary phase owing to the introduction of digital technologies in farming in the past decade.
The integration of software and hardware solution has led to the generation of a huge amount of data that can be analyzed using different tools providing farmers with valuable insights to promote yield growth. Also, the widespread adoption of drones and robots in the agriculture industry led to improving the different farming applications. As the advancement in the practice of precision agriculture drives the usage of advanced solutions, several challenges associated with the practice restricts its adoption.
The trend of precision agriculture practices is not only prevalent in developed countries but also in developing countries. In countries such as China and India, large deployments of smartphones and the internet of things systems have led to the rapid adoption of precision agriculture solutions. The government of different countries has also realized the importance and advantage of these advanced solutions, and thus, their initiatives to promote precision agriculture are expected to drive the growth of the market. Some of the popular use cases of precision agriculture include robotics, predictive analytics, unmanned aerial vehicle, and autonomous robots. As per the agriculture applications, spraying, monitoring, irrigation, and fertilization, among others, are where the advanced solutions have been successfully utilized.
The competitive landscape for the precision agriculture market demonstrates an inclination toward companies adopting strategies, such as product launch and development and partnerships, collaborations, and joint ventures. The major established players in the market are focusing on product launches and developments to introduce new technologies or developing further on the existing product portfolio.
For instance, in September 2019, Corteva Agriscience and Pro Farm technologies announced a commercial agreement to develop a tool for farmers to stimulate plant growth and to improve plant health. Similarly, in April 2019, Trimble announced the launch of Farmer Core which is a Trimble Ag software subscription that connects all farm operations.
This report is a meticulous compilation of research on more than 100 players in the precision agriculture ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 40 leading companies, market participants, and vendors. The report also profiles 30+ leading companies across the supply chain.
Key Topics Covered:
1 Market Dynamics
1.2 Impact Analysis
1.3 Market Drivers
1.3.1 Growing Demand of Crop Yield
1.3.2 Expanding Need for Climate Smart Farming
1.3.3 Rising Labor Shortage
1.4 Market Restraints
1.4.1 Lack of Technical Knowledge and Awareness
1.4.2 Complex Data Management and Data Privacy
1.5 Market Opportunities
1.5.1 Impact of 3D Printing on Farming
1.5.2 Blockchain For Agriculture
1.5.3 Artificial Intelligence in Agriculture
2 Competitive Insights
2.1 Key Strategies and Developments
2.1.1 Partnerships, Collaborations, and Joint Ventures
2.1.2 New Product Launches and Developments
2.1.3 Business Expansions and Contracts
2.1.4 Mergers and Acquisitions
2.1.5 Others(Awards and Recognition)
2.2 Competitive Benchmarking of Key Precision Agriculture Companies
3 Industry Analysis
3.1 Global Precision Agriculture Market Ecosystem
3.2 Supply Chain Analysis
3.3 Investment and Funding Landscape
3.3.1 Investment & Funding(by Product Offering)
3.3.2 Investment & Funding(by Funding Round)
3.4 Key Consortiums and Associations
3.4.1 Classification & Analysis of Key Consortiums and Associations (by Focus Area)
3.4.2 Classification & Analysis of Key Consortiums and Associations (by Function)
3.4.3 Key Consortiums & Associations: Their Role in Global Precision Agriculture Market
3.5 Patent Analysis
3.5.1 Patent Analysis (by Year)
3.5.2 Patent Analysis (by Key Companies)
188.8.131.52 Patent Analysis, (by Year)
184.108.40.206 Patent Analysis, (by Company)
220.127.116.11 Patent Analysis, (by Status)
18.104.22.168 Patent Analysis, (by Application)
22.214.171.124 Patent Analysis, (by Product Type)
3.5.3 Patent Analysis, (by Key Countries)
3.6 Assumptions & Limitations
4 Global Precision Agriculture Market, (by Solution), $Million
4.1 Assumptions and Limitations for Analysis and Forecast of the Global Precision Agriculture Market
4.2 Market Overview
4.3.1 Automation and Control System
126.96.36.199 GPS/GNSS System
188.8.131.52 Guidance and Steering System
184.108.40.206 Flow and Application Rate Control Solutions
220.127.116.11 Handheld Computers/ Mobile devices
18.104.22.168 Agriculture Cameras
4.3.2 Sensing and Monitoring
22.214.171.124 Yield Monitors
126.96.36.199 Sensing Systems
4.3.3 Other Hardware
4.4 Software & Platform
4.4.1 On-Cloud Software
4.4.2 On-Premise Software
4.5 Support Services
4.5.1 Integration and Deployment
4.5.2 Maintenance and Repair
4.5.3 Other Services
5 Global Precision Agriculture Market, (by Technology)
5.1 Market Overview
5.2 Guidance Technology
5.3 Sensing Technology
5.4 Variable Rate Application Technology
5.5 Data Analytics and Intelligence
6 Global Precision Agriculture Market, (by Application)
6.1 Market Overview
6.2 Precision Irrigation
6.3 Field Monitoring
6.4 Precision Spraying
6.5 Precision Fertilization
6.6 Precision Planting
6.7 Data Management
6.8 Other Applications
7 Global Precision Agriculture Market, (by Farm Produce)
7.1 Market Overview
7.2 Field Crops
7.2.2 Oil Crops
7.2.3 Roots, Tuber, and Plantains
7.2.4 Industrial Crops
7.3 Permanent Crops
7.4 Other Farm Produce Types
8 Global Agriculture Drones Market, $Million
8.1 Market Overview
8.2 Global Agriculture Drones Market, (by Type)
8.2.1 Fixed Wing Drone
8.2.2 Multi-Rotor Drone
8.2.3 Single Rotor Drone
8.2.4 Hybrid VTOL Drone
8.3 Global Agriculture Drones Market,(by Application)
8.3.1 Soil and Field Mapping & Analysis
8.3.2 Field Inspection
8.3.3 Crop Health Assessment
8.3.4 Crop Spraying
8.3.5 Other Applications
9 Global Agriculture Robots Market, $Million
9.1 Market Overview
9.2 Global Agriculture Robots Market, (by Type)
9.2.1 Harvesting and Picking Robots
9.2.2 Weeding Robots
9.2.3 Autonomous Robot Tractors
9.3 Global Agriculture Robots Market, (by Business Model)
9.3.1 Agriculture Robot-as-a-Product (ARaaP)
9.3.2 Agriculture Robot-as-a-Service (ARaaS)
10 Global Precision Agriculture Market, (by Region)
11 Company Profiles
Abundant Robotics Inc.
CNH Industrial N.V.
Deere & Company
Harvest Automation Inc.
Harvest Croo Robotics
Raven Industries Inc.
Robert Bosch GmbH
The Toro Company
Valmont Industries, Inc.
Yamaha Motor Co. Ltd.
Yanmar Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/g49fhk
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