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Worldwide Precision Agriculture Industry to 2026 - Featuring Bayer CropScience, Farmers Edge and Fuse Technologies Among Others

·7-min read

Dublin, Oct. 13, 2021 (GLOBE NEWSWIRE) -- The "Precision Agriculture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The global precision agriculture market exhibited strong growth during 2015-2020. Precision Agriculture (PA) refers to a type of integrated information- and production-controlled farming system that utilizes the latest available technologies and research methods for enhancing agricultural output. It helps farmers in increasing long-term, site-specific and whole-farm production efficiency, and profitability while minimizing the unintended impact on wildlife and the environment. Nowadays, precision agriculture has gained immense popularity across the globe with the development of IT that helps in achieving high quality of production and reducing the production costs and labor inputs. Looking forward, the publisher expects the global precision agriculture market to grow at a CAGR of around 12% during the forecast period (2021-2026).

Global Precision Agriculture Market Drivers/Constraints:

With the rapid penetration of smartphones and the internet, farmers are increasingly adopting the latest technologies. The inclusion of connected technologies such as low power wide area (LPWA), Zigbee, Wi-Fi, and new wireless sensor technologies in precision farming have enabled them to plan and execute various agricultural operations efficiently.

Several initiatives have been undertaken by governments across the globe to encourage the uptake of modern agricultural techniques to enhance crop yield and productivity. For instance, under the revised European Common Agricultural Policy, financial incentives and support schemes have been introduced by the European Union to promote farmers to invest in diverse precision farming technologies.

The leading manufacturers are developing different types of systems and devices to simplify agricultural activities including farm management systems, sensing and monitoring tools, automation and control systems, among others. These advancements have positively influenced the overall growth of the global precision agriculture market.

Breakup by Technology:

  • Global Navigation Satellite System (GNSS)/Global Positioning System (GPS)

  • Geographic Information System (GIS)

  • Remote Sensing

  • Variable Rate Technology (VRT)

  • Others

GNSS/GPS currently represents the leading technology segment. GNSS and GPS are utilized for mapping and geo-positioning, yield monitoring, soil condition monitoring, virtual fencing, and biomass monitoring.

Breakup by Type:

  • Automation and Control Systems

  • Sensory and Monitoring Devices

  • Farm Management Systems

Automation and control systems currently represent the leading segment as they help in reducing labor costs, offering reliable and consistent performance, and improving the efficiency as well as the accuracy of agricultural operations.

Breakup by Component:

  • Hardware

  • Software

Based on the component, hardware is the leading segment since the continuous evolution in technology has resulted in the introduction of new devices with better location and data processing capabilities.

Breakup by Application:

  • Yield Monitoring

  • Crop Scouting

  • Mapping

  • Soil Monitoring

  • Precision Irrigation

  • Others

Yield monitoring is the largest application area and helps in measuring and recording information based on grain flow, grain moisture and covered farm area. With yield monitoring technology, farmers can compare the performance of different seed varieties throughout their fields, which helps in improving seed selection.

Regional Insights:

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East and Africa

North America enjoys the leading position in the market on account of the advancements made in the field of precision agriculture in the region, both in terms of the types of offerings, which range from site-specific to guidance technologies, and the adoption of various systems by the farmers.

Competitive Landscape:

The market is highly fragmented and consists of numerous players at each stage of the supply chain. Some of the leading players operating in the market are:

  • Agribotix

  • Bayer CropScience AG

  • Case IH Agriculture

  • ClearAg Operations

  • Conservis Corporation

  • Deere & Company

  • Farmers Edge Inc.

  • Fairport Farm Software

  • Fuse Technologies

  • Granular AG

  • Grownetics Inc.

  • IBM

  • MapShots Inc.

  • Raven Industries

  • SST Software

Key Questions Answered in This Report:

  • How has the global precision agriculture market performed so far and how will it perform in the coming years?

  • What are the key regions in the global precision agriculture market?

  • What has been the impact of COVID-19 on the global precision agriculture market?

  • What are the popular product types in the global precision agriculture market?

  • What are the various application segments in the global precision agriculture market?

  • What are the major technologies used in the global precision agriculture market?

  • What are the several components in the global precision agriculture market?

  • What are the various stages in the value chain of the global precision agriculture market?

  • What are the key driving factors and challenges in the global precision agriculture market?

  • What is the structure of the global precision agriculture market and who are the key players?

  • What is the degree of competition in the global precision agriculture market?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction
4.1 Overview
4.2 Key Industry Trends

5 Global Precision Agriculture Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Price Analysis
5.5 Market Breakup by Technology
5.6 Market Breakup by Type
5.7 Market Breakup by Component
5.8 Market Breakup by Application
5.9 Market Breakup by Region
5.10 Market Forecast
5.11 SWOT Analysis
5.11.1 Overview
5.11.2 Strengths
5.11.3 Weaknesses
5.11.4 Opportunities
5.11.5 Threats
5.12 Value Chain Analysis
5.13 Porters Five Forces Analysis
5.13.1 Overview
5.13.2 Bargaining Power of Buyers
5.13.3 Bargaining Power of Suppliers
5.13.4 Degree of Competition
5.13.5 Threat of New Entrants
5.13.6 Threat of Substitutes

6 Market Breakup by Technology
6.1 GNSS/GPS Systems
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 GIS
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Remote Sensing
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Variable Rate Technology (VRT)
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast

7 Market Breakup by Type
7.1 Automation and Control Systems
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Sensing and Monitoring Devices
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Farm Management Systems
7.3.1 Market Trends
7.3.2 Market Forecast

8 Market Breakup by Component
8.1 Hardware
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Software
8.2.1 Market Trends
8.2.2 Market Forecast

9 Market Breakup by Application
9.1 Mapping
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Crop Scouting
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Yield Monitoring
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Soil Monitoring
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Precision Irrigation
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Others
9.6.1 Market Trends
9.6.2 Market Forecast

10 Market Breakup by Region

11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
11.3 Profiles of Key Players
11.3.1 Agribotix
11.3.2 Bayer CropScience AG
11.3.3 Case IH Agriculture
11.3.4 ClearAg Operations
11.3.5 Conservis Corporation
11.3.6 Deere & Company
11.3.7 Farmers Edge Inc.
11.3.8 Fairport Farm Software
11.3.9 Fuse Technologies
11.3.10 Granular AG
11.3.11 Grownetics Inc.
11.3.12 IBM
11.3.13 Mapshots Inc.
11.3.14 Raven Industries
11.3.15 SST Software

For more information about this report visit https://www.researchandmarkets.com/r/ofkjcx

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