$5 Bn Precision Farming Market - Global Forecast to 2023

DUBLIN, May 16, 2018 /PRNewswire/ —

The “Precision Farming Market by Technology (Guidance System, VRT, Remote Sensing), Application (Crop Scouting, Field Mapping, Irrigation), Offering (Hardware-Sensors, GPS/GNSS, Yield Monitors, Software, Services) & Geography – Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

The precision farming market is estimated to be worth USD 5.09 Billion in 2018 and is projected to reach USD 9.53 Billion by 2023, at a CAGR of 13.38% between 2018 and 2023

The major drivers for the precision farming market include increasing strain on the global food supply owing to increasing population, substantial cost savings associated with precision farming techniques, and government initiatives to adopt modern agricultural techniques. Precision farming is gaining tremendous popularity among farmers due to the increasing need for optimum crop production with limited available resources. Further, the changing weather patterns due to increasing global warming have impelled the adoption of advanced farming technologies to enhance farm productivity and crop yield.

The precision farming market has been segmented on the basis of offering, technology, application, and region

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Precision Farming Market
4.2 Precision Farming Market in APAC, By Application
4.3 Precision Farming Market, By Offering
4.4 Precision Farming Market, By Technology
4.5 Geographic Analysis of Precision Farming Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Pressure on Global Food Supply Owing to Growing World Population
5.2.1.2 Substantial Cost Cutting Made Possible By Precision Farming
5.2.1.3 Government Initiatives to Adopt Modern Agricultural Techniques
5.2.1.4 Adoption of New Farming Technologies for Boosting Agricultural Production
5.2.2 Restraints
5.2.2.1 High Initial Investment in R&D
5.2.2.2 Lack of Technical Knowledge Among Farmers
5.2.3 Opportunities
5.2.3.1 Integration of Smartphones With Internet of Things (IoT) Devices and Software Applications
5.2.3.2 Rise in Use of Unmanned Aerial Vehicles (UAVS)/Drones in Precision Farming
5.2.4 Challenges
5.2.4.1 Management of Data
5.2.4.2 Lack of Standardization in Precision Farming Industry
5.2.5 Burning Issues
5.2.5.1 Environmental Concerns

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis
6.2.1 Major Players in Precision Farming Market
6.3 Supply Chain Analysis
6.4 Technology Roadmap
6.4.1 Technology Roadmap (2010-2025)
6.4.2 Key Industry Trends
6.5 Pestle Analysis
6.5.1 Political Factors
6.5.2 Economic Factors
6.5.3 Social Factors
6.5.4 Technological Factors
6.5.5 Legal Factors
6.5.6 Environmental Factors

7 Precision Farming Market, By Offering
7.1 Introduction
7.2 Hardware
7.2.1 Automation and Control System
7.2.1.1 Display
7.2.1.2 Guidance and Steering
7.2.1.3 GPS/GNSS
7.2.1.4 Drones/UAVS
7.2.1.5 Irrigation Controllers
7.2.1.6 Handheld Mobile Devices/Handheld Computers
7.2.1.7 Flow and Application Control Devices
7.2.1.8 Others
7.2.2 Sensing and Monitoring Device
7.2.2.1 Yield Monitors
7.2.2.2 Soil Sensors
7.2.2.2.1 Moisture Sensor
7.2.2.2.2 Temperature Sensor
7.2.2.2.3 Nutrient Sensor
7.2.2.3 Water Sensor
7.2.2.4 Climate Sensor
7.3 Software
7.3.1 Local/Web-Based
7.3.2 Cloud-Based
7.4 Services
7.4.1 System Integration & Consulting
7.4.2 Managed Services
7.4.2.1 Farm Operation Services
7.4.2.2 Data Services
7.4.2.3 Analytics
7.4.3 Connectivity Services
7.4.4 Assisted Professional Services
7.4.4.1 Supply Chain Management Services
7.4.4.2 Climate Information Services
7.4.4.3 Others
7.4.5 Maintenance and Support

8 Precision Farming Market, By Technology
8.1 Introduction
8.2 Guidance Technology
8.2.1 GPS/GNSS Based
8.2.1.1 GNSS Applications in Precision Farming
8.2.2 GIS Based
8.3 Remote Sensing
8.3.1 Handheld Or Ground-Based Sensing
8.3.2 Satellite Or Aerial Sensing
8.4 Variable-Rate Technology
8.4.1 Map-Based
8.4.2 Sensor-Based
8.4.3 Some Major Applications of VRT
8.4.3.1 Fertilizer VRA
8.4.3.1.1 Nitrogen VRA
8.4.3.1.2 Phosphorous VRA
8.4.3.1.3 Lime VRA
8.4.3.2 Pesticide VRA
8.4.3.3 Seeding VRA

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9 Precision Farming Market, By Application
9.1 Introduction
9.2 Yield Monitoring
9.2.1 On-Farm Yield Monitoring
9.2.2 Off-Farm Yield Monitoring
9.3 Field Mapping
9.3.1 Boundary Mapping
9.3.2 Drainage Mapping
9.4 Crop Scouting
9.5 Weather Tracking & Forecasting
9.6 Irrigation Management
9.7 Inventory Management
9.8 Farm Labor Management
9.9 Financial Management
9.10 Others

10 Geographic Analysis

11 Competitive Landscape
11.1 Introduction
11.2 Precision Farming Market Ranking Analysis
11.3 Competitive Scenario
11.3.1 Product Launches & Developments
11.3.2 Partnerships, Agreements, and Collaborations
11.3.3 Mergers & Acquisitions

12 Company Profiles