Precision Agriculture Market Global Overview ,Trends and Future Opportunities for Business Development

New York, NY 03 June 2019: The global precision agriculture market is anticipated to reach over USD 13,016 million by 2026, According to a new study published by Polaris Market Research. In 2017, the yield monitoring application dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

precision agriculture market is anticipated to reach over USD 13,016 million by 2026, According to a new study published by Polaris Market Research. In 2017, the yield monitoring application dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

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There has been an increasing adoption of precision farming across the world owing to growing agricultural industry, and high-demand for food crops. The global precision farming market is driven by the increasing need to improve the quality of crops produced, maximizing crop production, and enhanced crop monitoring. Technological advancement along with government subsidies further boosts the market growth. However, high initial investment and lack of awareness limit the precision farming market growth.

North America generated the highest revenue in the precision agriculture market in 2017, and is expected to lead the global market throughout the forecast period. This is due to high cost of labor, and presence of large farmlands in the North American region. Increasing investments and subsidies in the agriculture sector by governments boost the precision farming market growth during the forecast period in the region. Increasing need to improve food quality and productivity along with increased industrialization of farming equipment further supplements market growth.

Various applications of precision farming include irrigation management, crop scouting, yield monitoring, weather tracking and forecasting, field mapping, inventory management, and farm labor management. In 2017, yield monitoring accounted for the largest share in the global market, and was estimated at $1,974 million in 2017, registering a CAGR of 13.2% during the forecast period. This is attributable to the benefits offered by yield monitoring such as reduced cost, improved yields, and enhanced decision making. Yield monitoring is further divided into on-farm yield monitoring, and off-farm yield monitoring.

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Key players in Precision Farming Market are:

The well-known companies profiled in the report include Ag Leader Technology, AGCO Corporation, Deere and Company, Topcon Corporation, Trimble, Inc., The Climate Corporation, Farmers Edge Inc., and AgJunction, Inc. among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

Key Segments:

Precision Farming Market Size and Forecast, 2017-2026 by Hardware Type

  • Key Findings
  • Automation & Control
  • Drones
  • Application control devices
  • Guidance system
  • Remote sensing
  • Driverless tractors
  • Mobile devices
  • VRT
  • Wireless module
  • Sensing devices
  • Antennas/access points

Precision Farming Market Size and Forecast, 2017-2026 by Deployment Type

  • Key Findings
  • Web-Based/Local
  • Cloud Based

Precision Farming Market Size and Forecast, 2017-2026 by Service

  • Key Findings
  • System Integration
  • Managed Services
  • Maintenance & Support
  • Consulting

Precision Farming Market Size and Forecast, 2017-2026 by Application

  • Key Findings
  • Irrigation Management
  • Crop Scouting
  • Yield Monitoring
  • Weather Tracking and Forecasting
  • Field Mapping
  • Inventory Management
  • Farm Labor Management

For Further Insights and Segment-Specific Information, Contact a Market Analyst at @ https://www.polarismarketresearch.com/industry-analysis/precision-farming-market/speak-to-analyst

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world

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Elina Park

Elina Is Business Journalist Carrying Experience For More than 5 Years, She is an active contributor to various business blogs

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