Rhode Island Chronicle

Precision Farming Market to Penetrate the 12 Billion USD Business Realm by 2025

 Breaking News
  • No posts were found

Precision Farming Market to Penetrate the 12 Billion USD Business Realm by 2025

July 02
20:28 2019
Precision Farming Market to Penetrate the 12 Billion USD Business Realm by 2025

The remote sensing technology in the precision farming market is expected to witness a growth rate of over 17% over the forecast timeline
The precision farming market is expected to exhibit a significant growth over the forecast timeline due to a huge support from governments for the adoption of advanced technologies such as AI and the IoT

Precision farming market is estimated to exceed USD 12 billion by 2025. The market growth is attributed to the rising adoption of smart agricultural practices to increase productivity. The use of Big Data along with information & communication technologies will provide farmers with more accurate insights into the existing crop conditions. Another factor contributing to the precision farming market growth is the popularity of drones and IoT for greater production capabilities and analytics. The IoT plays a substantial role in increasing productivity and providing insights about the recent trends of crops.

 

Request for Sample Copy of This Report @ https://www.gminsights.com/request-sample/detail/227

 

Geomapping technologies are expected to hold a share of over 20% of the precision farming market in 2025. The technology proves to be immensely beneficial in agriculture as it offers a cost-effective alternative for localized & wide-scale monitoring of the crop output. With the evolution of the technology, 3D geomapping techniques have emerged in the market that are particularly useful for the timely detection of existing inefficiencies in the fields, allowing farmers to take immediate corrective measures.

The remote sensing technology in the precision farming market is expected to witness a growth rate of over 17% over the forecast timeline. The market growth is attributed to use of remote-sensed images acquired by sensors mounted on different agricultural machinery and vehicles. As remote sensing devices capture critical information related to crops, their utility in the precision agriculture is increasing consistently for aiding the real-time decision-making applications.

Weather monitoring applications in the precision farming market will grow at a CAGR of over 16% from 2019 to 2025. As the agricultural sector is vulnerable to disruptive weather events, the demand for actionable & timely information increases. The real-time data regarding weather conditions help farmers to increase their yield and reduce costs while minimizing crop damage risks.

 

Make an Inquiry for purchasing this Report @ https://www.gminsights.com/inquiry-before-buying/227

 

The Asia Pacific precision farming market will witness a growth rate of over 20% during the forecast period. The factors augmenting the market growth are increasing the awareness about the precision farming technologies and several initiatives taken by the government to improve sustainable agriculture. For instance, in June 2017, the state government of Haryana in India adopted climate-smart agricultural practices to transform the agricultural systems. This also enabled the regulatory bodies to achieve three objectives such as adapting to climate changes, achieving agricultural productivity, and reducing greenhouse gas emissions.

The rising adoption of drones and UAVs for capturing crop-related data is also leading to precision farming market growth. For example, in March 2019, the Agriculture Ministry of Japan promoted the use of drones in the agriculture sector. This will help in increasing productivity and improving crop health by closely monitoring the crop condition.

The companies in the precision farming market are entering into strategic partnerships and acquiring companies to gain more market share. For instance, in September 2018, Topcon Agriculture entered into a licensing agreement with Raven Industries. Under the agreement, Topcon Agriculture’s Slingshot Application Programming Interface (API) was used in Raven’s software platforms.

 

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/precision-farming-market

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Contact
Company Name: Global Market Insights Inc.
Contact Person: Arun Hegde
Email: Send Email
Phone: 1 302-846-7766
Address:4 North Main Street
City: Selbyville
State: Delaware
Country: United States
Website: www.gminsights.com/pressrelease/precision-farming-market

Categories