Booming Growth in Precision Agriculture

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Precision agriculture also known as site specific crop management (SSCM) and satellite farming is an advanced farming technique that utilizes several technologies such as GPS, GIS and remote sensing to collect crucial field related information, which is further analyzed to support grower's decisions with regard to crop fertilizing, planting, and harvesting. In addition, sensors are placed throughout the field that measure temperature, nutrition level and humidity of the soil. Therefore, the technology eliminates manual human efforts by automating crucial processes including real-time farm monitoring and information sharing.

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Precision agriculture is swiftly gaining popularity among farmers due to the increasing need of optimum production with the given resources. Further, the changing weather patterns due to increasing global warming, have necessitated the adoption of advanced technologies to enhance the productivity and crop yield. By offering technologies such as real-time farm monitoring, weather forecasting, optimal field requirements and similar others, precision agriculture enables the farmers to increase the yield with minimum human efforts and wastage. Moreover, the technology enables the farmers to manage their resources as well as access real time information through their smartphones, thereby offering greater mobility and ease of operation. However, major restraints of the market are affordability of the technology and lack of awareness about the benefits of precision agriculture among farmers, particularly in the developing countries.

The report also presents a complete analysis of the world precision agriculture market based on technology, component, and geography. GIS, telematics, VRT, GPS, and remote sensing are some of the key technologies covered in the technology segment. Among these, GPS is the most popular technology. The world precision agriculture market is further bifurcated into two key components: hardware and software. Hardware includes sensors, drones, ASS, radar, GPS, and others (display, satellite, and mobiles). Software includes GIS, crop management software, weather tracking and forecasting software, inventory management software, people management software, and financial management software. The market is further analyzed across four different geographies: North America, Europe, Asia-Pacific, and LAMEA. North America includes the U.S., Mexico, and Canada, whereas Europe covers U.K., Russia, Germany, Italy, France, and rest of Europe. The countries covered under Asia-Pacific are Australia, China, India, Japan, South Korea, Taiwan, and rest of Asia-Pacific. LAMEA is bifurcated into Latin America, the Middle East, and Africa.

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