Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Precision Agriculture Market Value is Projected to Reach US$ 11.3 Billion by 2024

11 views

Published on

Get more information about the market: https://www.imarcgroup.com/precision-agriculture-market

The global precision agriculture market reached a value of US$ 5.4 Billion in 2018. Precision agriculture, also known as satellite agriculture. Looking forward, the market value is projected to reach US$ 11.3 Billion by 2024, expanding at a CAGR of around 13% during 2019-2024.

Want more information about this market? Request a free report sample: https://www.imarcgroup.com/precision-agriculture-market/requestsample

For India market research reports, visit: http://www.marketresearchindia.co.in

Browse Related Report

Agricultural Robots Market Report: https://www.imarcgroup.com/agricultural-robots-market

Indian Bio-Agriculture Market Report: https://www.imarcgroup.com/indian-bio-agriculture-industry

Contact Us

IMARC Group
James Smith
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800 | https://www.imarcgroup.com
Americas :- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331
Linkedin: https://www.linkedin.com/company/imarc-group

Published in: Technology
  • Be the first to comment

  • Be the first to like this

Precision Agriculture Market Value is Projected to Reach US$ 11.3 Billion by 2024

  1. 1. Copyright © IMARC Service Pvt Ltd. All Rights Reserved Global Precision Agriculture Market Research Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved
  2. 2. Report DescriptionAbout IMARC Group The International Market Analysis Research and Consulting Group is a leading adviser on 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, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.
  3. 3. Report DescriptionReport Description and Highlights Global Precision Agriculture Market Overview: According to the recent report by IMARC Group, entitled “Precision Agriculture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global precision agriculture market reached a value of US$ 5.4 Billion in 2018. Precision agriculture, also known as satellite agriculture, refers to one of the most popular innovations in modern farming. It is the concept of managing accurate variabilities in the farm which helps in producing more output with less agricultural inputs, thereby minimizing the production cost. Precision agriculture relies on specialized equipment, software and IT services so as to provide a real-time data the condition of soil, ambient air and crops, as well as other important information like local weather predictions and labour costs. This data is used by the farmers to know about the precise planting times, crop rotation and harvesting time. Precision Agriculture Market Trends Nowadays, farmers are increasingly depending on smartphones, internet, WiFi, Zigbe and lower-power wide-area (LPWA) for their day-to-day farming activities. These technologies assist in efficiently planning and executing several operations, such as planting, purchasing harvesting and inventory control, with zero negligence and errors. Moreover, these help in spreading awareness amongst small as well as large farmers about the latest developments in the industry.
  4. 4. Report DescriptionReport Description and Highlights 120.2 125.5 130.8 136.1 141.4 146.7 152.0 157.3 0 20 40 60 80 100 120 140 160 2011 2012 2013 2014 2015 2016 2017 2018 inBillionUS$ 160.0 165.3 170.6 175.9 181.2 186.5 0 20 40 60 80 100 120 140 160 180 2019 2020 2021 2022 2023 2024 InBillionUS$ Further, agriculture development authorities as well as state-owned enterprises are cooperating together with agro-processing organizations, and food and beverage manufactures in order to promote the growth of sustainable agricultural activities. This aims at enhancing the productivity, food security and efficiency of agricultural process, in turn, proliferating the demand for precision agriculture. Looking forward, the market value is projected to reach US$ 11.3 Billion by 2024, expanding at a CAGR of around 13% during 2019-2024. Request for a free sample report: https://www.imarcgroup.com/precision-agriculture- market/requestsample
  5. 5. Report DescriptionReport Description and Highlights This acts as one of the major factors which has led to a rise in the demand for precision agriculture across the globe. Key Market Segmentation: Market Segmentation by Technology • GNSS/GPS Systems • GIS • Remote Sensing • Variable Rate Technology (VRT) • Others Based on technology, the market has been segregated as GNSS/GPS systems, GIS, remote sensing and variable rate technology (VRT). Currently, GNSS/GPS systems represent the largest technology segment of precision agriculture as the accuracy of these technologies have improved, which in turn, is enabling a large-scale adoption of precision agriculture for geo-positioning and field-mapping. Market Segmentation by Type
  6. 6. Report Description Report Description and Highlights • Automation and Control Systems • Sensing and Monitoring Devices • Farm Management Systems On the basis of type, the market has been segmented as automation and control systems, sensing and monitoring devices, and farm management systems. At present, automation and control systems are mostly preferred in precision agriculture as they aid in minimizing the labour costs as well as electricity costs. Market Segmentation by Component • Hardware • Software The market is also bifurcated on the basis of component which include hardware and software components account for the majority of the market share as their consistent evolution has resulted in the introduction of new devices with enhanced location and data processing capabilities. Market Segmentation by Application
  7. 7. Report DescriptionReport Description and Highlights • Mapping • Crop Scouting • Yield Monitoring • Soil Monitoring • Precision Irrigation • Other Based on application, yield monitoring represents the biggest segment, followed by crop scouting, mapping, soil monitoring and precision irrigation. Yield monitoring systems are used for measuring and recording information based on the grain flow, grain moisture and farm area covered. Additionally, they help the farmer in maximizing the crop yield and understanding the field variability. Market Segmentation by Region • Asia Pacific • Europe • North America • Middle East and Africa • Latin America
  8. 8. Report DescriptionReport Description and Highlights Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America is the leading market due to increasing adoption of precision agriculture in various countries like the United States and Canada. Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players. • Agribotix • Bayer CropScience AG • Case IH Agriculture • ClearAg Operations • Conservis Corporation • Deere & Company • Farmers Edge Inc. • Fairport Farm Software • Fuse Technologies • Granular AG
  9. 9. Report DescriptionReport Description and Highlights • Grownetics Inc. • IBM • Mapshots Inc. • Raven Inudstries • SST Software For more information, click here: https://www.imarcgroup.com/precision-agriculture-market
  10. 10. A partial List of our Clients We are the trusted business partners to the world's leading corporates, governments, and institutions Partial List of Clients
  11. 11. A partial List of our Clients We are the trusted business partners to the world's leading corporates, governments, and institutions Partial List of Clients
  12. 12. Report DescriptionReport Description and Highlights © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.
  13. 13. FOR MORE DETAILS Visit us at : Stay With Us: TELEPHONE: +1-631-791-1145 E-MAIL: sales@imarcgroup.com https://www.imarcgroup.com Contact Us

×