According to the MarkNtel Advisors' research report, "Global Precision Agriculture Market Analysis, 2021," the market is likely to grow at a CAGR of 13% during 2021-26. Practicing precision agriculture helps reduce the environmental impact and acquire higher yields at low costs. The rising need for ideal crop production with limited resources further increases the demand for precision agriculture. Moreover, burgeoning pressure on the global food supply due to increasing population and the shift in weather patterns also propel adopting precision agriculture to augment farm productivity.
Key questions answered in the study
Soil Monitoring Accounted for the Largest Market Share
Based on Application, the Soil Monitoring segment dominates the Global Precision Agriculture market. Due to irregular climatic change, identification of soil moisture and health has become even more difficult. Soil sensors help in determining the variety of soil properties and provides real-time data after analyzing it. Further, the demand for soil sensors has increased to monitor the soil's feasibility in terms of the growth of crops, thereby propelling the market growth.
"Global Precision Agriculture Market Analysis, 2021' provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Precision Agriculture providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Asia-Pacific Exhibits Fastest Growth
The Asia-Pacific market is likely to register the fastest growth in the Global Precision Agriculture market during 2021-26. India is one of the biggest agricultural markets. The surging government support to adopt Smart farming techniques provides immense growth opportunities for precision agriculture. In addition to this, the launch of the multi-lingual mobile app "CHC farm machinery" facilitates farmers to rent types of machinery like tractors and harvesters. Thereby, the region is projected to contribute to the growth of the global Precision Agriculture market in the forecast period, reveals MarkNtel Advisors in their research report, "Global Precision Agriculture Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the global Precision Agriculture market are Deere & Company, CropMetrics LLC, Trimble Navigation Limited, Ag Leader Technology, AgJunction, Inc., AgEagle Aerial Systems Inc. (Agribotix LLC), DICKEY-john Corporation, Farmers Edge Inc., Grownetics, Inc., Granular, Inc., etc.