incentives . North America , Canada and Mexico have dominated the PF market so far . However , Asia-Pacific , specifically India , Australia , China and Japan , currently have the highest growth rate in this domain . Interestingly , the APAC region is being seen as the fastest emerging market in precision agriculture .
The report intends on presenting a quantitative and qualitative insight into the precision agriculture technology that can be segmented by hardware and software components , by application , by function ( labor and crop management , financial management and credit management and DSS ) and by geographical regions . Software components include the three prominent areas of application , namely farm management system , labor management system and weather tracking and forecasting .
DRIVERS : 1 . Growth of agro-based industries as a whole 2 . Rising demands for agro-products 3 . Pressure to increase yield and profitability 4 . Crop protection and health 5 . Governmental support and incentives 6 . Energy and cost saving
RESTRAINTS : 1 . Requires high investment 2 . Slow return on investment ( ROI ) 3 . Lack of customization of technology and services 4 . Lack of technical expertise 5 . Global warming challenging productivity
OPPORTUNITIES : 1 . Expected growth in Variable Rate Application ( VRA ) 2 . Application of Unmanned Aerial Vehicles ( UAV ) 3 . Making Technology more portable 4 . Integration with Mobile technologies 5 . Introduction of Real Time Tracking and Intelligence
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