Precision Farming Market (Yield Monitoring, VRA and Soil Monitoring) is Growing at a CAGR of 12.2% - New Report by MarketsandMarkets
(PRWEB) November 03, 2014 -- The report "Precision Farming Market by Technology (GPS/GNSS, GIS, Remote Sensing & VRT), Components (Automation & Control, Sensors, FMS) and Geography - Global Forecasts to 2020", defines and segments the global Precision Farming Market into various sub segments with an in-depth analysis and forecasting of market sizes. The report also identifies the factors driving this market, various restraints, and opportunities impacting it along with the adoption trends.
Precision farming is observed to be in its matured phase in the U.S. market. Precision farming market is expected to see upgrades in the existing systems, along with the adoption of variable rate applicators driving the market growth. Outside the U.S., South America, APAC, and Europe; particularly, Brazil, Argentina, Eastern Europe, and China – are fuelling a strong double-digit growth as they are in early stages in the adoption life cycle; also, due to the large consolidated farming operations in those regions.
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Browse 72 market data Tables and 73 Figures spread through 189 Pages and in-depth TOC on "Precision Farming Market".
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The report also includes company profiles of leading players in this industry with their recent developments and other strategic business activities. The competitive landscape section of the report entails key growth strategies and detailed market share analysis of key industry players. Some of the major players in the precision farming market are AgJunction Inc. (U.S.), Ag Leader Technology (U.S.), Dickey-John Corporation (U.S.), Teejet Technologies (U.S.), Deere & Company (U.S), Trimble Navigation System (U.S.), Precision Planting Inc. (U.S.), ACGO Corporation (U.S.), Topcon Precision Agriculture (U.S.), and Raven Industries Inc. (U.S.).
The need for precision farming products is evolving and growing continuously. The precision farming techniques are utilized for site specific farming, which means better efficiency, high yield, and profitability with optimum usage of resources. Precision farming products have a special place in different agro-based applications. Precision agriculture techniques find its major applications in yield monitoring, Variable Rate Application (VRA), mapping, soil monitoring, and crop scouting.
The precision farming market is expected to benefit from emerging market investments that are lifting the standards of agriculture, while the developed markets are expected to continue investing in more efficient precision farming techniques, systems, and procedures, which offer high yields and profits. The increasing demand for food is pushing the growers to adopt precision farming techniques and optimize their resources efficiently with minimum wast ages.
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MNM report provides a detailed segmentation by technology, component, and application. The geographic analysis covers all existing and emerging technologies in the Precision Farming Market. The market based on technology is segmented into guidance system, remote sensing, and Variable Rate Technology (VRT). The market based on components is segmented into automation & control systems, sensing and monitoring devices, and Farm Management System (FMS). The report also covers major applications of precision farming techniques such as yield monitoring, filed mapping, Variable Rate Application (VRA), soil monitoring, and crop scouting with qualitative and quantitative industry insights.
One of the objectives of the report was to analyze market trends for each of the Precision Farming Market segments and their respective growth rates. Apart from market segmentation the report also covers an in-depth analysis such as Porter's five force analysis, supply chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, and opportunities for the precision farming market.
The market size for precision farming is included in the report in four geographic splits, namely- Americas, Europe, Asia-Pacific, and Rest of the World (RoW). North America is estimated to account for a major share in the precision farming market, which is expected to be followed by Europe and Asia-Pacific. Moreover, the Asia-Pacific market for precision farming is expected to grow at a high rate.
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