Precision Farming Market Forecast

The Global Precision Farming Market is being driven by the need to maximize the food production and the growing focus on sustainable agriculture. Also, increased awareness and acceptance of this technique and optimization of the inputs are other key factors that are contributing to the market expansion. By the end of the forecast period of , the market is likely to progress with a CAGR of 13.81%.

Type, technology and applications are the basis upon which the Global Precision Farming Market is segmented. The type segment includes hardware and software types.Precision Farming Market The Precision Farming Market by technology can be divided into guidance systems, variable rate technology and remote sensing, and control systems. Precision farming finds its applications in soil monitoring, yield monitoring, software applications, variable rate applications and field mapping.

“The Global Precision farming market is estimated to grow with approx.13.81% CAGR during the year 2018 – 2026…”

Precision farming involves data collection, wherein the results are analyzed to find definite patterns that are then used for agricultural forecasting purposes. Over the forecast period of , the North America precision farming market is expected to exhibit a CAGR of 3.17%. Canada, Mexico and the US are major geographies analyzed in this region.

Most of the countries in the Asia- Pacific follow the traditional methods of farming. However, the growing focus on sustainable agriculture and increasing awareness and acceptance of precision farming technologies are driving considerable growth in the Asia-Pacific precision farming market. Between the projected years of , the market is likely to progress with a 19.06% CAGR.

Precision farming involves advance farming techniques such as the use of software and hardware for observing, measuring and responding to intra-field variability in crops, which ultimately results in better crop management and higher output. The Europe precision farming market is slated to rise with a CAGR of 12.02% over the forecast period of

Some of the leading companies offering precision farming solutions include Agco Corp, Ag Leader Technology Inc, Agdata, Ag-Nav Inc, Agjunction Inc, Agribotix, Agrium Inc, Cropx Ltd, Basf Se, Deere & Co, Dupont, Monsanto Company, Farmers Edge Precision Consulting Inc, Mts Systems Corp, Raven Industries Inc, Nozzleworks Inc, Sst Development Group Inc, Topcon Corp, Teejet Technologies, and Trimble Navigation Limited.