The “Crop Monitoring Technology in Precision Farming Market” research report 2019-2024 focuses on the major drivers, restraints, opportunities and threats for key players. It also provides granular analysis of market share, segmentation, revenue forecasts and regional analysis till 2024. The report has opinions from industry experts and offers an overview of the past years and the current market situation. Crop Monitoring Technology in Precision Farming market report gives an overview of related market containing types, applications and top manufacturers with characteristics, technology and market chain with analysis and latest market trends and development.
- The global crop monitoring technology in the precision farming market is expected to register a CAGR of 12.6%, during the forecast period 2019-2024. As technology has been evolving since its inception, crop monitoring is increasingly becoming critical for making the best use of geospatial technologies and site-specific crop management practices.
- – The convergence of IT with agriculture coupled with government initiatives and decline in sensor prices are driving the growth of the market.
- – A growing number of applications for telematics in agriculture is anticipated to drive the demand for crop monitoring over the forecast period. Telematics services include tracking devices using Global Navigation Satellite System (GNSS) to show the position of the equipment for management purposes.
- – The adoption for these solutions is found to be high, in areas where labor costs are high and land costs are relatively inexpensive.
- – The increasing demand for UAVs and the recent success of precision farming in increasing the productivity of major crops are expected to open up new growth opportunities in the near future.
- – Further, measures taken by various governments to meet the increasing food demand is stimulating the market growth. For instance, the US Department of Agriculture, NASA, and NOAA contribute to precision farming, by the development of advanced technologies in GPS navigation. Also, the Indian government provides 100% cost subsidy to Precision Farming Development Centres (PDFCs).
- – However, low awareness and high initial costs may hamper the growth of the market. Besides, due to low penetration, presently, the technology is majorly used in developed countries.
Scope of the Report:
- Crop monitoring is the technology that facilitates real-time crop vegetation monitoring via spectral analysis of high-resolution images for different fields and crops that enables to track positive and negative dynamics of crop development.
- List of Key Manufacturers Covered in Crop Monitoring Technology in Precision Farming Market:
- AGCO Corporation
- AG Junction Inc.
- Deere & CompanyD
- Hickey-john Corporation
- Teejet Technologies Illinois LLC
- Raven Industries Inc.
- Lindsay Corporation
- Monsanto Company
- Valmont Industries Inc.
- Yara International ASA
- Topcon Precision Agriculture
- Trimble Navigation Limited
- E. I. Du Pont De Nemours And Company (Dupont)
- Land O’lakes Inc.
- BASF SECrop Monitoring Technology in Precision Farming Market Report Covers the Following: –
- The report covers forecast and analysis for the market on a global and regional level.
- The report includes the drivers and the restraints that affect the growth of the market.
- The report discusses detailed information about the market opportunities.
- The market is segmented on the basis of product and end-user industry
- The key target audience for the market has been determined in the report.
- The revenue generated by the prominent industry players has been analyzed in the report.
Key Market Trends:
GPS and GNSS Adoption to Drive the Market Growth
– Miniaturization and improved accuracy of the global navigation satellite system (GNSS) technology (of which, GPS is mostly in use, at present) makes it possible for wide-scale adoption of precision farming technologies for geo-positioning and field mapping.
– The United States is the leading country, in terms of the GNNS/GPS technology used in agriculture. Nearly 70% of the advanced technologies in the United States farms are using some level of GPS/GNSS.
– GPS-based applications in precision farming include major areas such as yield mapping and monitoring, and farm planning along with field mapping, soil sampling, tractor guidance, crop scouting, variable rate applications.
– Therefore, with increased adoption of GPS and GNSS coupled with the benefits offered, the demand for crop monitoring is set to increase over the forecast period.
United States to Account for the Largest Share
– As per the estimates of the US Department of Agriculture, nearly 2,029,200 farms in the US used 950 million acre land, in 2017. With a huge dependency on the agriculture sector, the government in the country is increasingly focussing on implementing precision farming technologies.
– The key agencies responsible for the uprising in large-scale agriculture in the US include NASA, NOAA, and the US Department of Agriculture. Their goal is to improve farmers profitability and reduce the environmental concerns caused due to the application of various chemicals.
– Moreover, although the Federal Aviation Administration (FAA) had laid out restrictions towards the flying of drones, as per their new rules passed in 2016, drones for commercial purposes, weighing up to 55 lb, can be used in the US during daylight hours. These initiatives have aided the adoption of precision farming in the country.
– Further, according to the Farm Profits and Adoption of Precision Agriculture study in 2017, yield mapping is used on about 40% of US corn and soybean acres, GPS soil maps on about 30%, guidance on over 50%, and VRT on 28-34% of acres.
Crop Monitoring Technology in Precision Farming Market Report Highlights:
- Comprehensive pricing analysis on the basis of product, application, and regional segments
- The detailed assessment of the vendor landscape and leading companies to help understand the level of competition in the Crop Monitoring Technology in Precision Farming market
- Deep insights about regulatory and investment scenarios of the Crop Monitoring Technology in Precision Farming market
- Analysis of market effect factors and their impact on the forecast and outlook of the Crop Monitoring Technology in Precision Farming market
- A roadmap of growth opportunities available in the Crop Monitoring Technology in Precision Farming market with the identification of key factors
- The exhaustive analysis of various trends of the Crop Monitoring Technology in Precision Farming market to help identify market developments