The global precision farming software market is expected to grow with the CAGR of approximately 14.5% during the forecast period.
Technological advancement is one of the major factors boosting the demand for the market. With the introduction of GPS (Global Positioning Systems), remote sensing (RS) and geographic information systems (GIS), farmers can now increase water management models as well as nutrient recommendation towards the site-specific situations of every field. Extensive variations in soil properties, nutrient and water availability happen across high number of fields.
Though, the ability to relate site-specific nutrient and irrigation management to suit temporally and spatially inconstant situations can surge application efficacies, decline environmental impacts, advances yields. However, lack of standardization in the precision farming and lack of technical awareness among farmers are acting as major restraints for the market growth. Although, increasing application of cloud technology in agriculture sector and integration of mobile technologies with agricultural techniques are offering better scope for the market in near future.
The market is facing some critical challenges such as high initial investment and lack of technical professionals. Geographically,
- Government Support to Advanced Farming Techniques
- Advancements in Precision Farming
- Increasing Adoption of Precision Farming
- Provides Wide-Ranging Benefits
- Lack of Standardization in the Precision Farming
- Lack of Technical Awareness Among Farmers
- Increasing Application of Cloud Technology in Agriculture Sector
- Integration of Mobile Technologies With Agricultural Techniques
High Initial Investment
- Lack of Technical Professionals
Key Topics Covered:
2. Market Overview
3. Market Determinants
4. Market Segmentation
5. Competitive Landscape
7. Company Profiles
AG Leader Technology
- Agco Corporation
- Agjunction Inc.
- Bayer Ag
- Cropmetrics Llc
Echelon Ag Inc.
- Iteris Inc.
- John Deere
- Raven Industries
Topcon Positioning Systems Inc.
- Trimble Inc.
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Related Topics: Agriculture