New York City, 07 Feb
2020: The global precision agriculture market is
anticipated to reach over USD 13,016 million by 2026, According to a new study
published by Polaris Market Research. In 2017, the yield monitoring application
dominated the global market, in terms of revenue. North America is expected to
be the leading contributor to the global market revenue during the forecast
period.
There has been an increasing
adoption of precision farming across the world owing to growing agricultural
industry, and high-demand for food crops. The global precision farming market
is driven by the increasing need to improve the quality of crops produced,
maximizing crop production, and enhanced crop monitoring. Technological
advancement along with government subsidies further boosts the market growth.
However, high initial investment and lack of awareness limit the precision
farming market growth.
Get Sample Copy @ https://www.polarismarketresearch.com/industry-analysis/precision-farming-market/request-for-sample
North America generated the
highest revenue in the precision agriculture market in 2017, and is
expected to lead the global market throughout the forecast period. This is due
to high cost of labor, and presence of large farmlands in the North American
region. Increasing investments and subsidies in the agriculture sector by
governments boost the precision farming market growth during the forecast
period in the region. Increasing need to improve food quality and productivity
along with increased industrialization of farming equipment further supplements
market growth.
Various applications of precision
farming include irrigation management, crop scouting, yield monitoring, weather
tracking and forecasting, field mapping, inventory management, and farm labor
management. In 2017, yield monitoring accounted for the largest share in the
global market, and was estimated at $1,974 million in 2017, registering a CAGR
of 13.2% during the forecast period. This is attributable to the benefits
offered by yield monitoring such as reduced cost, improved yields, and enhanced
decision making. Yield monitoring is further divided into on-farm yield
monitoring, and off-farm yield monitoring.
Get Discount on this Research Report @ https://www.polarismarketresearch.com/industry-analysis/precision-farming-market/request-for-discount-pricing
The well-known companies profiled
in the report include Ag Leader Technology, AGCO Corporation, Deere and
Company, Topcon Corporation, Trimble, Inc., The Climate Corporation, Farmers
Edge Inc., and AgJunction, Inc. among others. These companies launch new
products and collaborate with other market leaders to innovate and launch new
products to meet the increasing needs and requirements of consumers.
About
Polaris Market Research
Polaris
Market Research is a global market research and consulting company. The company
specializes in providing exceptional market intelligence and in-depth business
research services for our clientele spread across different enterprises.
Contact
Us:
Polaris
Market Research
Phone:
1–646–568–9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
No comments:
Post a Comment
Please do not enter any spam link in the comment box...