Precision Agriculture Market Size Report
Precision Agriculture Market
Precision Agriculture Market size is forecast to witness a CAGR of 16% over the forecast period, owing to the continuous development in agricultural economy with farmer’s inclination towards digital technology
Precision Agriculture Market Dynamics
Emerging need to ensure optimal yield with the confined resources available is a major factor fueling the global precision agriculture market growth. Ongoing technological advancements in the precision agricultural techniques has helped farmers to manage the resources and offer access to real-time information through smart devices, thus, offering improved operations and mobility, which will further add to the market growth. However, as per the Precision Agriculture Market report, insufficient knowledge among farmers about the beneficial features of precision agricultural solutions might hamper the market growth.
Technology Segment Analysis
Guidance Technology is projected to lead the global market primarily due to the growing adoption by farmers. Guidance Technology can further be bifurcated into GIS-based Guidance and GPS -Based Guidance Technology. Increasing adoption of advanced technologies and devices for precision farming has paved the way for Global positioning system segment.
Application Segment Drivers
Yield monitoring segment is anticipated to expand at a faster CAGR over the forecast period, owing to their ability to collect and analyze data and take better decisions by understanding crop variability.
Component Segment Driver
By component, the Hardware segment is predicted to dominate the overall market, owing to the growing automation of control instruments such as irrigation controllers, yield monitoring systems, and sensors.
Regional Drivers
North America is forecast to witness significant opportunities over the upcoming years, owing to the early adoption of technology especially by USA and Canada.
Precision Agriculture Market Segmentation:
Segmentation by Component
· Solution
· Services
Segmentation by Location
· Indoor
· Outdoor
Segmentation by Application
· Risk Management
· Emergency Response Management
· Customer Experience Management
· Remote Monitoring
· Others
Segmentation by Verticals
· Retail
· Manufacturing
· Transportation and Logistics
· Energy and Utilities
· Government and Defense
· Others
Segmentation by Region:
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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