Global Precision Agriculture Market 2015-2019
About precision agriculture
The area of arable land has been declining and has limited the food production potential. Farmers are facing the pressure of maximizing production within these limitations and are pursuing progressive techniques to make their farmlands more efficient. Precision agriculture techniques aid in managing farm lands more effectively, thereby increasing food production in a sustainable manner.
Farmers have always strived to mitigate the costs associated with inputs and increase yields; this goal is achieved through precision farming. Agriculture machine manufacturers are investing in R&D to produce more efficient presicion farming equipment.
Technavio's analysts forecast the global precision agriculture market to grow at a CAGR of 14.43% over the period 2014-2019.
Covered in this report
This report covers the present scenario and the growth prospects of the global precision agriculture market for 2014-2019. To calculate the market size, the report considers the revenue generated from sales of the following precision farming products:
Technavio Announces the Publication of its Research Report – Global Precision Agriculture Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Precision Agriculture Market: AGCO, AgJunction, Ag Leader, Deere & Co and Trimble Navigation
Other Prominent Vendors in the market are: CNH Industrial, Derr Equipment, DICKEY-John, Monsanto, MTS Systems, Raven Industries, Site-Specific Technology, and TeeJet.
Commenting on the report, an analyst from Technavio’s team said: “As farmers worldwide grow increasingly wary of the effects of agriculture on the environment, they are taking steps to conduct agriculture in a sustainable manner. Environmental impacts on farming can be reduced significantly using precision farming methodology because it reduces the impact of agricultural pollutants, such as fertilizers and pesticides, on biodiversity and water quality, through prescription farming.”
According to the report, with the growing global population, demand for food is risingbut the size of arable land is decreasing. Farmers are thus facing the pressure of maximizing production within these limitations and are seeking out progressive techniques to make their farmlands more efficient. These factors combined are expected to drive the popularity of precision farming technologies in the market because they allow more effective management of farmland and thus increase production in a sustainable manner.
Further, the report states that farm income is a major determinant of the adoption of precision farming services. The farm income in the US has been almost stagnant in the last couple of years. With the reduction in bulk commodity prices of grains and feeds and an increase in fertilizer and seed prices, farmers are faced with pressure on their margin.
AGCO, AgJunction, Ag Leader, Deere & Co, Trimble Navigation, CNH Industrial, Derr Equipment, DICKEY-John, Monsanto, MTS Systems, Raven Industries, Site-Specific Technology, TeeJet.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook