Precision Farming Report Considers GNSS, Other Tech

Marketsandmarkets.com is offering a new report on the precision farming market, with forecasts to the year 2020. The report covers various technologies and components, including GNSS.

The report is titled “Precision Farming Market by Technology (GPS/GNSS, GIS, Remote Sensing & VRT), Components (Automation & Control, Sensors, FMS), Application (Yield Monitoring, VRA, Mapping, Soil Monitoring, Scouting) and Geography – Global Forecasts to 2020.”

According to marketsandmarkets.com, “Precision farming is growing rapidly from its infancy towards maturity. Driven by advancements in data management, precision farming has a remarkable impact on traditional approaches to farming. Applying technological developments in data collection and geo-location tracking, precision farming uses technology to optimize yield and detect operating efficiencies as well as deficiencies. Precision farming applications guide farmers about the right time to plant and harvest, and the amount of fertilizers and pesticides needed for better yield production. This information helps cut down input costs, fuel usage, and labor, and negate the environmental impact. Farmers across the globe have been benefitted due to innovations in precision agriculture.

“Major drivers for this market are augmented yield and profitability, which are contributing factors for farmers to opt for precision farming; other drivers like energy and cost saving, and government assistance have also been contributing to the market growth. Major restraints like high initial investments, and lack of awareness and their impact analysis are also covered under this study.

“The total precision farming market size is expected to grow at a CAGR of 12.2% from 2014 to 2020 and reach $4.55 billion by 2020. The report analyzes the precision farming supply chain, giving a very clear insight of all major segments and supported segments to the industry. The report also provides a detailed scrutiny of the Porter’s five force analysis for the market. All five major factors in these markets have been quantified using internal key parameters governing each of them.

“The report also includes company profiles of leading players in this industry with their recent developments and other strategic business activities. The competitive landscape section of the report entails key growth strategies and detailed market share analysis of key industry players. Some of the major players in the precision farming market are AgJunction Inc. (U.S.), Ag Leader Technology (U.S.), Dickey-John Corporation (U.S.), Teejet Technologies (U.S.), Deere & Company (U.S), Trimble Navigation System (U.S.), Precision Planting Inc. (U.S.), ACGO Corporation (U.S.), Topcon Precision Agriculture (U.S.), and Raven Industries Inc. (U.S.).”