Precision Farming Growth to Be Remarkable, Report Says

September 25, 2013 2 Comments

Research and Markets has issued a new precision farming technology report. According to the report, the growth of the market is expected to be remarkable, and is estimated to reach $3.72 million by 2018, at an estimated CAGR of 13.36% from 2013 to 2018. The major players in this industry are Deere & Co. (U.S.), Trimble Navigation (U.S.), Topcon positioning systems (U.S.), Raven Industries (U.S.), Precision Planting (U.S.), and AGCO (U.S.).

The major drivers for this market are augmented yield and profitability, energy and cost saving, and government assistance. Major restraints such as high initial investments and lack of awareness and their impact analysis are also covered under this study. North America currently leads the market share for precision farming as this region has the maximum adoption. Asia-Pacific (APAC) is the emerging market for precision framing and has been enjoying the highest growth rate among all the geographic regions. It is believed that the APAC market will grow at a CAGR of 25.16% from 2013 to 2018.

The full title is “Precision Farming Market by Technology (GPS/GNSS, GIS, Remote Sensing & VRT), Components (Automation & Control, Sensors, FMS), Applications (Yield Monitoring, VRA, Mapping, Soil Monitoring, Scouting) – Global Forecast & Analysis (2013 – 2018).”

The report covers all the technologies, components, and applications of precision farming; it provides a detailed analysis of the current market scenario and estimation for the next five years. Major applications like field mapping and yield monitoring are driving the market. Moreover, the market is driven by important technologies like GPS and variable rate technologies. This market is already progressing well in developed countries and it is also expected to grow well in the developing nations as a result of their ever growing food demands.

This study describes the value chain for precision framing market by considering all the major stakeholders in the market, and their role analysis. The report also performs a detailed scrutiny of the Porter’s five force analysis for the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them.

Key Topics Covered:

1 Introduction

2 Executive Summary

3 Cover Story

4 Market Overview

5 Global Precision Farming Market By Technology

6 Global Precision Farming Market By Hardware & Software Components

7 Precision Farming Market by Application

8 Global Precision Farming Market By Geography

9 Competitive Landscape

10 Company Profile – Overview, Products And Services, Financials, Strategy & Development

Companies Mentioned

  • Ag Business & Crop Inc.
  • Ag Leader Technology
  • Ag-Nav Inc.
  • Agco Corporation
  • Agjunction Inc.
  • Agri Con Gmbh
  • American Sensor Technologies Inc.
  • Autofarm
  • Automata Inc.
  • Deere & Company
  • Dickey-John Corporation
  • Echelon Ag Inc.
  • Jain Irrigation Systems Ltd.
  • Omnistar
  • Precision Planting Inc.
  • Precisionagriculture. Com.Au
  • Raven Industries Inc.
  • Soyl Precision Farming
  • Teejet Technologies
  • The Toro Company
  • Topcon Precision Agriculture
  • Trimble Navigation Limited

For more information, visit the Research and Markets website.

This article is tagged with and posted in Latest News, Machine Control/AG News, Precision Ag

2 Comments on "Precision Farming Growth to Be Remarkable, Report Says"

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  1. D.Laredo says:

    $3.72 Million by 2018??. I think you meant Billion…

    • Eric Gakstatter Eric Gakstatter says:

      Nice catch Daniel. I saw that too and went back to the news source (market research company). Their press release stated $3.72M, which is obviously wrong. I sent them a note about it, but received nothing in return.

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