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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