Press Release Description

South America Precision Agriculture Market to Register CAGR of 15.2% During the Forecast Period, 2024-30

The South America Precision Agriculture Market size is projected to grow at a CAGR of 15.2% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The market expansion is attributed to the increased implementation of innovative and cutting-edge technology in the region's farming systems. The increasing demand for higher crop yields, resource efficiency, and the promotion of sustainable agricultural practices is driving farmers to adopt precision agriculture.

Precision agriculture solutions with tools like GPS, drones, sensors, and data analytics allow farmers to make informed crop cultivation decisions, which are accelerating its growth in the region. This adoption not only optimizes inputs, lowers prices, and increases productivity, but it also demonstrates the agriculture sector's recognition of the significant benefits of precision techniques in achieving higher efficiency and sustainability, resulting in market growth.

South America Precision Agriculture Market

Furthermore, the region's extensive agricultural lands, particularly in Brazil and Argentina, create the need to implement innovative farming technologies throughout the country. Furthermore, environmental issues, such as soil degradation and water scarcity in some locations, are driving farmers to adopt automated resource management solutions that reduce waste and environmental effects. Rapid technological breakthroughs, such as robotics, artificial intelligence, and the Internet of Things, make automated farming more affordable and feasible for South American farmers, encouraging wider adoption throughout the region. In addition, enterprises in the region that provide innovative precision agriculture products and services are increasing their acceptance.

Moreover, government organizations such as the Brazilian Agricultural Research Corporation, USDA's Agricultural Research Service, the University of Florida, and the International Fertilizer Development Center, etc., are continuously working on various research & development projects in the region, augmenting industry growth, further states the research report “South America Precision Agriculture Market Analysis, 2024”.

South America Precision Agriculture Market Segmentation Analysis

Precision Irrigation Segment Expected to Hold Major Market Share

Based on the application, the market is segmented into Precision Irrigation, Yield Monitoring, Precision Spraying, Precision Fertilization, Precision Planting, Data Management, and Others. The Precision Irrigation segment is poised for a substantial share in the market driven by increasing water scarcity and shifting focus of farmers towards effective irrigation systems. Water scarcity is a significant issue in the region, which could be further solved through this irrigation system as it offers a viable alternative to improve water utilization and reduce waste.

Furthermore, the increasing demand for high-quality crops, combined with the requirement to increase agricultural yields, drives the need for this technology in the field of improved water retention qualities. Moreover, this technology is easy to use & could be applied to a wide range of crops, making it accessible to farmers of all sizes, thus extending its acceptance

Brazil is Anticipated to Account for a Prominent Market Share

Brazil is expected to hold a considerable share due to the presence of a vast amount of agricultural land coupled with increasing government initiatives and support for the adoption of modern and new agriculture practices. The Brazilian administration has implemented several programs and initiatives aimed at promoting precision agriculture, including the National Program for Precision Agriculture (PNAP) and the Brazilian Agricultural Research Corporation (EMBRAPA), which have helped to expand the Brazil Precision Agriculture Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, Agres Sistemas Eletrônicos, AGCO Corporation, BASF SE, Bayer AG, Deere & Company, Leica Geosystem AG, Farmers Edge Inc., Raven Industries, Inc., Topcon Corporation, Trimble Inc., Yara International ASA, TeeJet Technologies, and others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the South America Precision Agriculture Market?
  3. What key factors would propel and impede the industry across the region?
  4. How has the industry been evolving in terms of geography & solution adoption?
  5. How has the competition been shaping across various countries?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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