Precision Agriculture Market

The global precision agriculture market reached a value of US$ 6.7 Billion in 2020. IMARC Group expects the market to reach a value of US$11.9 Billion by 2026.

SHERIDAN, WYOMING, UNITED STATES, October 27, 2021 /EINPresswire.com/ -- According to the recent report by IMARC Group, entitled “Precision Agriculture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The global precision agriculture market to reach a value of US$11.9 Billion by 2026. Precision Agriculture (PA) is a type of integrated production- and information-controlled farming system that uses the latest available technologies and research methods to enhance the agricultural output. It assists the farmers in increasing long-term, site-specific, and whole-farm production efficiency and profitability while reducing the unintended impact on the environment. Precision agriculture also helps in achieving a high quality of production and reducing the production costs and labor inputs.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Market Trends:

Due to the increasing adoption of internet services and smartphones, several farmers are increasingly utilizing the latest technologies. Furthermore, the rising integration of numerous innovative technologies, such as low power wide area (LPWA) and Zigbee, with precision farming has enabled the farmers to plan and execute various agricultural operations efficiently. Additionally, the governments across several nations are offering various financial incentives and support schemes to encourage farmers to invest in diverse precision farming technologies. Besides this, the expanding food and beverage industry and escalating demand for sustainable farming practices are projected to bolster the growth of the precision agriculture market over the forecasted period.

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Competitive Landscape with Key players:

The report has also analysed the competitive landscape of the market 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
SST Software

Precision Agriculture Market Segmentation:

Our report has categorized the market based on region, technology, type, component and application.

Breakup by Technology:

Global Navigation Satellite System (GNSS)/Global Positioning System (GPS)
Geographic Information System (GIS)
Remote Sensing
Variable Rate Technology (VRT)
Others

Breakup by Type:

Automation and Control Systems
Sensing and Monitoring Devices
Farm Management Systems

Breakup by Component:

Hardware
Software

Breakup by Application:

Yield Monitoring
Crop Scouting
Mapping
Soil Monitoring
Precision Irrigation
Others

Regional Insights:

North America (United States, Canada)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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