Global Precision Agriculture Market Key Players Outlook, Latest Trends and Forecast up to 2026

The precision agriculture or satellite farming is a connected farm management decision management system which helps the farmers in taking important farming decisions such as when to harvest a crop and how to improve the crop yield. With the help of the precision agriculture solutions such as weather tracking and forecasting mobile applications, farmers are able to plan their farming activities such as when to cultivate and harvest a crop.
Growing food requirements and need to optimize the food production are the key factors which are supporting the growth of the precision agriculture market. In addition, growing adoption of the IoT based solutions by the farmers, regional government’s support for practicing precision agriculture techniques and steady adoption of the technologies such as robotics, and telematics by the farmers are further, propelling the market growth. However, high installation cost, a smaller number of IT literate farmers, especially, in developing and underdeveloped regions and lack of technology standards are hindering the market growth.
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Various notable players operating in the market, include Deere & Company, Bayer CropScience AG, Case IH Agriculture, Farmers Edge Inc., AgSense LLC, Monsanto Company, Topcon Corporation, Raven Industries, Fairport Farm Software, and Trimble Navigation Limited. Most of the players in the market are focusing on a product launch, partnerships and on research and development of technologically advanced precision agriculture equipment’s. For instance, in September 2018, Case IH Agriculture partnered with AgDNA for the designing and development of next-generation Farm Management Software (FMS) platform for Case IH products.
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The Global Precision Farming market has been segmented based on hardware, software, services, technology application, and key geographies. Based on the hardware, the market is segmented into automated and control system and sensing and monitoring devices. Based on software, the market is categorized into cloud-based software and on-premise software. Based on services, the market is classified into training and consulting managed services and maintenance. Based on technology, the market is classified into GPS, GIS, remote sensing, VRT, and others. Based on application, the market is segmented into yield monitoring, field monitoring, crop scouting, weather tracking and forecasting, irrigation management, farm management and other.
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The research report “Global Precision Farming Market” provides in-depth analysis of hardware, software, services, technology application and key geographies for the forecast period from 2018 to 2025. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the Global Precision Farming Market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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Key questions answered in this research report:
  1. At what pace is Precision Farming market growing? What will be the growth trend in the future?
  2. What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
  3. What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Precision Farming market?
  4. What are the various application areas and how they are poised to grow?
About GMI Research
GMI Research is a market research & consulting firm which helps its client to address their most pressing strategic and business challenges. Our market research helps our clients to address business challenges and also helps them to make better business decisions with our fact-based insights, intelligence, and data. Our insights and intelligence equip our clients with information not known to them and aid them in solving the toughest business problems. We help business leaders through independent fact-based insight, ensuring their business achieve success by beating the competition.
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