Precision Farming Market Projection By Technology, Top Key Players, Demand, Segment, Regional Analysis Revenue Forecast Till – 2031
Computing power is all set to witness explosion in the near future. With updated cloud infrastructure, several organizations are re-platforming themselves to cloud. With 5G already doing the rounds, 6G is in the offing. Also, there are smarter devices like intelligent robots for completing the tasks faster. The Precision Farming Market is bound to witness adoption of this future technology in the upcoming period.
The global Precision Farming Market is estimated to reach US$ 18 Bn at a CAGR of 11.6% by the year 2031.
The global precision farming market was valued at US$ 6 Bn in 2020 and the estimated net worth for the year 2031 is predicted to be US$ 18 Bn. These findings are from a recently revised market survey on precision farming by Persistence Market Research. The report also suggests that the precision farming market is expected to progress at an impressive CAGR of 11.6% over the next ten years.
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The world has substantially transformed in the last couple of decades, and almost all aspects of life are dependent on technology to function at their optimal potential. Global warming has completely changed the environment and climate across the globe, which has made it essential for farmers to adopt advanced farming techniques such as precision farming. Precision farming enables farmers to optimize crop production with limited resources and enhance crop yield.
Rising food demand from the growing global population, efficient and profitable crop yield, changing climatic and atmospheric patterns, and increasing proliferation of technology are some of the major factors fueling demand for precision farming technology.
Key Players:
The report has profiled some of the Important players prevalent in the global like – AgJunction Inc., Raven Industries Inc., CNH Industrial N.V., Deere & Company, Trimble Inc., Iteris Inc., Topcon Corporation, PrecisionHawk, senseFly, DICKEY-john, SST Development Group Inc., Agribotix LLC, and Ag Leader Technology and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Precision Farming.
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Prime precision farming industry players are focusing on integrating hardware and software for precision farming with smartphones due to their wide scope of application.
Key Takeaways from Market Study
“Adoption of precision farming in India and China is expected to significantly increase over the decade, and these nations will provide a very lucrative market for key players of the industry as well as new players due to the untapped potential that they possess,” says a Persistence Market Research analyst.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Precision Farming Market Manufacturers
Precision Farming Market Distributors/Traders/Wholesalers
Precision Farming Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Jul 04, 2022