Precision Agriculture Market Research Reports 2023 | Aarkstore

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Precision agriculture is an approach to farm management that uses specialized equipment to produce more food at a fraction of the cost. It is also known as satellite agriculture or site-specific crop management (SSCM) and gives the farmers the ability to use crop inputs, such as pesticides, tillage and irrigation water, and fertilizers. Precision agriculture uses GPS, geographical information system (GIS) and remote sensing (RS) with an objective to improve profitability, productivity, quality and sustainability of the crops. According to the latest report, titled Precision Agriculture Market, the global precision agriculture market reached a value of US$ 4.8 Billion in 2017




The major factors driving the precision agriculture market is the growing use of cloud-based technology, rising use of smart phones and the increasing application of technology in farming with the aim of minimizing the human efforts and losses. Additionally, the need to maximize food production by the optimum use of resources is spurring the market growth globally.

Further, the government incentives and subsidies towards increasing the productivity and conserving the environment is expected to catalyze the demand for precision agriculture.

Some of the other factors affecting the overall growth of the market are changing climatic conditions, rapid urbanization and the expanding application of navigation systems. Owing to these factors, the market value is projected to reach US$ 10.0 Billion by 2023, expanding at a CAGR of 13.1% during 2018-2023.

On the basis of application, the market has been segregated as mapping, crop scouting, yield monitoring, precision irrigation, soil monitoring and others.

Region-wise, North America holds the largest market share, accounting for the majority of the global share. It is followed by Europe and Asia Pacific. Other major regions include the Middle East and Africa, and Latin America.

The competitive landscape of the market has also been examined with some of the key players being Agribotix, Bayer CropScience AG, Case IH Agriculture, ClearAg Operations, Conservis Corporation, Deere & Company, Farmers Edge Inc., Fairport Farm Software, Fuse Technologies, Granular AG, Grownetics Inc., IBM, Mapshots Inc., Raven Industries and SST Software.

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Category: Technology Market Research Reports

Related Reports:

Precision Agriculture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

Precision Biosciences Inc - Pharmaceuticals and Healthcare - Deals and Alliances Profile

Global Precision Agriculture Wireless Sensors Market Size and Forecast to 2021

Global Precision Agriculture Wireless Sensors Market Report and Forecast to 2021

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