Precision agriculture (PA), also called site-specific crop management (SSCM), represents a production-controlled farming system that uses the latest available research methods and technologies to enhance agricultural output. It assists farmers in increasing long-term, site-specific, and whole-farm production profitability while minimizing the unintended impact on the environment and wildlife. Precision agriculture relies upon specialized equipment, IT services, and software solutions to provide real-time data about the condition of the soil, availability of equipment, labor costs, local weather predictions, etc.
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The global precision agriculture market reached a value of US$ 6.7 Billion in 2020. Looking forward, IMARC Group expects the market to reach a value of US$11.9 Billion by 2026.
The shifting preferences among farmers towards using digital technology for yield management are among the key factors driving the precision agriculture market. Additionally, the widespread adoption of these tools to visualize soil moisture, production levels, sunlight intensity, etc., remotely and in real-time to accelerate the decision-making process is further catalyzing the market growth. Besides this, precision agriculture aids farmers in reducing the usage of pesticides, water, herbicides, fertilizers, etc., thereby making farming more cost-effective, which is acting as another significant growth-inducing factor. Moreover, the expanding applications of robotics in agriculture are aiding in the automation of repetitive tasks, such as harvesting, picking, weed control, etc., for farmers. This, in turn, is enabling a production-controlled farming system, skilled farm management, and data-driven decision-making processes, which is also augmenting the global market. Apart from this, the development of numerous advanced devices, including farm management systems, sensing and monitoring tools, automated control systems, etc., to simplify agricultural activities is anticipated to fuel the precision agriculture market over the forecasted period.
Some of the Top Key players in the Global Precision Agriculture Industry
- Bayer CropScience AG
- Case IH Agriculture
- ClearAg Operations
- Conservis Corporation
- Deere & Company
- Farmers Edge Inc.
- Fairport Farm Software
- Fuse Technologies
- Granular AG
- Grownetics Inc.
- MapShots Inc.
- Raven Industries
- SST Software
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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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