According to the MarkNtel Advisors’ research report, “Global Precision Agriculture Market Analysis, 2021”, the market is expected to grow at a CAGR of 13% during (2021-26). Practising precision agriculture helps in reducing the environmental impact and acquiring higher yield at a low cost. The rising need for ideal crop production with limited resources increases the demand for precision agriculture. Burgeoning pressure on the global food supply due to increasing population and the shift in weather patterns is propelling the adoption of 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, to monitor the feasibility of the soil in terms of the growth of the crops, the demand for soil sensors has increased. Thereby, proliferating the growth of the market.
“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 success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia-Pacific Exhibits Fastest Growth
The Asia-Pacific market is projected to register the fastest growth in the Global Precision Agriculture market during 2021-26. India is one of the biggest agricultural markets. The surge in government support to adopt smart farming techniques provides immense opportunities for the growth of precision agriculture. In addition to this, the launch of the multi-lingual mobile app “CHC farm machinery” facilitates farmers to rent machineries such as tractors and harvester. Thereby, the region is projected to contribute to the growth of the global Precision Agriculture market in the forecast period as revealed by MarkNtel Advisors’ 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.