According to a new market research report published by Global Insight Services ” Precision Farming Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Precision farming is a management system for agricultural production that uses technology to increase yields, decrease inputs, and improve farm management. The goal of precision farming is to optimize production while minimizing inputs and environmental impact.
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Key Players
- Trimble
- John Deere
- Monsanto
- DuPont
- Raven Industries
- Topcon
- Dickey-John
- AGCO
Key Trends
The key trends in precision farming technology include:
Increased use of sensors and sensor networks: Sensors are used to collect data on weather, soil, crop growth and yield in real time. This data is used to make informed decisions about inputs application, irrigation, planting and harvest.
Greater use of precision farming software: Precision farming software is used to manage and analyze data collected by sensors. This software is used to make decisions about inputs application, irrigation, planting and harvest.
Increased use of robotics: Robotics is used for tasks such as crop scouting, soil sampling and precision application of inputs. This technology is used to increase efficiency and reduce labor costs.
Key Drivers
Precision farming is a modern agricultural practice that uses technology to improve the efficiency and productivity of crop production. The main drivers of the precision farming market are the need for increased food production, the need for improved resource management, and the need for reduced costs.
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Market Segments
By Application
- Crop Management
- Financial Management
- Farm Inventory Management
- Personnel Management
- Weather Tracking and Forecasting
- Others
By Type
- On Premise
- Cloud-based
Reasons to buy Precision Farming Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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