With the slowdown in world economic growth, the Precision Agriculture Industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Precision Agriculture market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2018, Stratagem Market Insights analysts believe that in the next few years, Precision Agriculture market size will be further expanded, we expect that by 2025, The market size of the Precision Agriculture will reach XXX million $.
Precision agriculture is the use of new technologies to enhance crop yield and profitability. The approach is less dependent on conventional methods of farming. Increasing use of IoT in agriculture is expected to boost growth of the global precision agriculture market over the forecast period. For instance, AgriTalk Tech Inc.’s ‘AgriTalk Management Platform’ is capable of regulating factors such as diseases, pests, soil fertility, moisture/humidity, temperature, and light exposure. Moreover, increasing adoption of AI in agriculture is also expected to propel growth of the market. For instance, in September 2018, IBM Corporation introduced pre-trained AI algorithms for its IBM Watson engine for a variety of industries and professions, which include agriculture, customer service, human resources, supply chain, manufacturing, automotive, marketing, and advertising.
Increasing population and the resulting demand for food supply is expected to increase adoption of precision agriculture, thereby aiding growth of the market. For instance, according to projections by Population Reference Bureau (PRB) included in the 2018 World Population Data Sheet, the world population is expected to reach 9.9 billion by 2050, up 2.3 billion or 29% from an estimated 7.6 billion people in 2018. Moreover, according to World Economic Forum, by 2050, the demand for food is expected to increase by 60% compared to 2016. Moreover, increasing focus of government and private organizations to promote sustainable agriculture is also expected to contribute to growth of the global precision agriculture market. For instance, the United Nations has set ending hunger, achieving food security and improved nutrition, and promoting sustainable agriculture as the second of its 17 Sustainable Development Goals (SDGs) for the year 2030.
Increasing demand for organic food is expected to boost growth of the global precision agriculture market. For instance, according to the 2019 Organic Industry Survey released by the Organic Trade Association in May 2019, the U.S. organic market in 2018 reached US$ 52.5 billion, up 6.3% from 2017.
Major players in the market are focused on various agriculture software tools to expand their product portfolio. For instance, in August 2018, Trimble Inc. launched its all new agricultural software bundle, known as Farmer Fit in its Trimble Ag software solutions portfolio. This software helps farmers in record-keeping and mapping system. It is available on desktop, online, or mobile platforms.
Major players in the market are also focused on adopting partnership strategies to expand their product portfolio. For instance, in April 2019, Decisive Farming Corp. partnered with DNT, a major provider of weather and agricultural insights, to offer Decisive Farming Corp customers increased access to precision agriculture and weather insights to help boost production and decrease expanses.
Key Takeaways:
• Increasing population and high demand for food supply is expected to augment growth of the global precision agriculture market
• Increasing focus of government and private organizations to promote sustainable agriculture is also expected to boost growth of the market
• Major players operating in the global precision agriculture market include, IBM Corporation, Hitachi, Ltd., Trimble Inc., Decisive Farming Corp., SlantRange, Inc., and The Climate Corporation
This Report covers the manufacturers' data, including: shipment, price, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size, volume and value, as well as price data.
Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size, both volume and value. Also cover different industries clients information, which is very important for the manufacturers.
Section 1: Definition
Section (2 3): Manufacturer Detail
-- Ag Leader
-- AGCO Corporation
-- AgJunction
-- Deere
-- Trimble
-- CNH Industrial
-- Derr Equipment
-- DICKEY-John
-- Monsanto
-- MTS Systems
-- Raven Industries
Section 4: Region Segmentation
North America Country (United States, Canada)
South America
Asia Country (China, Japan, India, Korea)
Europe Country (Germany, UK, France, Italy)
Other Country (Middle East, Africa, GCC)
Section (5 6 7): Segmentation
Product Type Segmentation:
Precision Automatic Control System
Sensing And Monitoring Equipment
Agricultural Management System
Industry Segmentation:
Grain Planting
Fruit Planting
Vegetable Planting
Channel (Direct Sales, Distributor) Segmentation
Section 8: Trend (2018-2025)
Section 9: Product Type Detail
Section 10: Downstream Consumer
Section 11: Cost Structure
Section 12: Conclusion
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