(EMAILWIRE.COM, December 05, 2018 ) Overview

Precision farming is an administrative concept based totally on measuring, responding, and staring at unevenness in inter and intra-area crops. The intention of precision farming is to grow the manufacturing with the assistance of a selection guide device (DSS) and preserving assets. Precision farming uses advanced technology to optimize crop manufacturing with the help of GIS, far off sensing, and GPS over the long duration. Precision farming is likewise referred to as website online-unique crop management (SSCM) and satellite farming.

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The Global Precision Farming market was well worth USD 4.66 billion in 2018 and is projected to grow at a CAGR of 13.7%, to attain USD 8.85 billion by 2023.

Drivers and Restraints:

Precision agriculture is unexpectedly gaining a reputation among farmers due to the growing need for most efficient manufacturing with the given assets. In addition, the changing climate styles due to increasing worldwide warming have necessitated the adoption of superior technology to decorate the productivity and crop yield. Through imparting technologies inclusive of real-time farm tracking, climate forecasting, top-quality discipline requirements and comparable others, precision agriculture permits the farmers to grow the yield with minimum human efforts and wastage.

But, fundamental restraints of the market are affordability of the generation and lack of awareness approximately the advantages of precision agriculture amongst farmers, in particular in the growing nations.

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Geographic Segmentation

On the basis of region, the global Precision Farming market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America dominate the market due to the increasing adoption of a new generation, high market penetration, and high consciousness many of the farmers in this region. Asia-Pacific is the fastest developing market phase as this place has the most important agricultural land and huge increase capacity for producers.

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The leading competitors of the market include Raven Industries, Deere & Company, AGCO Corporation, Trimble Navigation Ltd, Monsanto Company, Dupont, Agjunction, Inc, Precision Planting, Inc, SST Development Group, and Dickey-John Corporation.

Scope of the report

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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