production in the times to come. As a result, the rapid utilization of
precision farming equipment would play a major role in improving
effectiveness and crop yield which in turn will drive the market growth.
Components
Hardware: The hardware segment is projected to hold a lion’s share in
the global market for precision farming by component towards the end of
the forecast period. Sensing & monitoring devices are expected to be
principally significant as well as range a value of just under US$ 5.4 Bn
by the end of 2025.
Farm Management Software (FMS): Currently, the precision farming
software of on-premise is greater than the precision farming software of
cloud-based and is predicted to hold a slender lead in the forecast period.
However, the upsurge of IOT & significance of the cloud will propagate by
leaps & bounds in the 21st century. The main stakeholders in the market
for precision farming are expected to focus on cloud-based precision
farming.
Service: Although maintenance and consulting services are lesser than
the integrations and installation services in the market for precision
farming, they are anticipated to observe greater CAGR in the course of
the forecast period. The segment of maintenance service is prepared to
be valued at nearly US$ 1.7Bn by the end of 2025 whereas, the
consulting services are projected to be valued under US$ 1.2Bn in the
similar year.
Download TOC: https://www.persistencemarketresearch.com/toc/3884
Region
The market for precision farming in North America is anticipated to be worth
approximately US$ 7.8Bn by end 2025. This makes North America’s precision
farming market larger than Middle East and Africa, Latin America, Asia Pacific
and Europe market. North America’s market share is expected to be nearly
45% by then, in the global market for precision farming.
Competition Control panel of Global Market for Precision Farming
The extensive research report on the global market for precision farming covers
analysis on the major companies active in the global market for precision
farming. Key companies such as Ag Leader Technology, Agribotix LLC, SST
Development Group, DICKEY-john, senseFly, PrecisionHawk, Topcon
Corporation, Iteris, Trimble, Deere & Company, CNH Industrial N.V., Raven
Industries Inc., and AgJunction are profiled in this research report.
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