Precision Agriculture Market Dynamics – Driver, Challenge, Segment & Competition FY2030

Global Precision Agriculture Market Analysis

MarkNtel Advisors, a leading consulting, data analytics, and market research firm, recently published an analytical report description that describes the recent achievements and developments of prominent players including new launching of innovative products, strategic collaborations, or partnerships, that bolster the growth of the Global Precision Agriculture market. The research report on the Precision Agriculture Market presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts.

The report further comprises, “Global Precision Agriculture Market size was valued at around USD 10.43 billion in 2023 and is projected to grow at a CAGR of around 13% during the forecast period, i.e., 2024-30.

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Global Precision Agriculture Market Driver:

Need for Sustainable Farming Practices Driving Market Growth – The global market for precision agriculture is growing due to the increased demand for sustainable agricultural practices. Using efficient and sustainable farming methods is becoming increasingly essential as concerns regarding resource shortages, climate change, and environmental degradation rise. This requirement is met by using precision agriculture, which gives farmers the capacity to use assets like water, fertilizer, and insecticides as effectively as feasible. Technologies that allow correct application of inputs, decrease waste and minimize adverse environmental effects include remote sensing, data analytics, and GPS-guided tools. Precision agriculture contributes to decreased greenhouse gas emissions, soil health, and water conservation through increasing resource efficiency.

Furthermore, government regulations and incentives are supporting the increasing adoption of sustainable agricultural practices. The market is witnessing growth & expansion because of this emphasis on sustainability, which helps in meeting regulatory requirements and also satisfies farmers' preferences.

Global Precision Agriculture Market Segment & Geography [2024-30]

The Precision Agriculture market is segmented into significant segments based on Geography.

-By Offering

Hardware
Software
Services

-By Application

Precision Irrigation
Field Monitoring
Precision Spraying
Precision Fertilization
Precision Planting
Data Management
Other Applications

-By Agricultural Produce

Cereals
Oil Crops
Roots, Tuber, and Plantains
Industrial Crops
Fruits
Vegetables
Nuts
Others

-By Technology

Guidance System
Variable Rate Technology (VRT)
Remote Sensing
Data Analytics

Geographical Analysis

-By Region

North America
Latin America
Europe
Middle East & Africa
Asia-Pacific

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Top Companies Essentially Working in Precision Agriculture Market

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.

Frequently Asked Questions (FAQs)-

What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
What are the trends influencing the current scenario of the market?
What leading factors would propel and impede the industry across the geography?
How has the industry been evolving in terms of geography & Precision Agriculture adoption?
How has the competition been shaping up across the geography?

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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