Precision Agriculture Market 2021 Business Scenario | Key players – Deere & Company, Trimble Navigation Limited & More
The growing uptake of drone technology for crop monitoring, identifying planting flaws, & pest & disease control & detection will also lead to market growth.
PORTLAND, PORTLAND, OR , UNITED STATES, September 7, 2021 /EINPresswire.com/ — Increase in adoption of smart phones, rise in use of cloud technology, and booming population across the world drive the growth of the global precision agriculture market. Based on component, the hardware segment held the highest in 2016. Based on region, on the other hand, Asia-Pacific would register the fastest CAGR by 2022.
The global precision agriculture market is expected to hit $7.8 billion by 2022, registering a CAGR of 14.9% from 2016 to 2022. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Based on component, the hardware segment accounted for the major share in 2016 and is projected to rule the roost by the end of 2022. Simultaneously, the software segment would grow at the fastest CAGR of 15% during the forecast period.
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Based on region, North America generated the highest share in 2016 and is anticipated to dominate by 2022. At the same time, the region across Asia-Pacific would register the fastest CAGR throughout the forecast period. The other two regions covered in the study include Europe and LAMEA.
The global precision agriculture market is analyzed across technology, component, and geography. Based on technology, the GPS segment contributed to the highest share in 2016 and is expected to lead the trail by 2022. The GIS segment, on the other hand, would register the fastest CAGR of 15.7% from 2016 to 2022.
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Profiling Key Players: Trimble Navigation Limited, Deere & Company, Monsanto Company, and AGCO Corporation.
Covid-19 scenario-
1. The outbreak of the pandemic led to distorted agricultural activities across the world, which in turn gave way to decreased demand for advanced farming techniques, thereby impacting the global precision agriculture market negatively.
2. However, as the restrictions have loosened off in most countries and mass rollout of vaccination has been initiated by several government bodies, the market is expected to recoup soon.
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Highlights of the report:
1. Comprehensive assessment of all opportunities and risk in the global market.
2. Precision agriculture market recent innovations and major events.
3. Detailed study of business strategies for growth of the precision agriculture market-leading players.
4. Conclusive study about the growth plot of precision agriculture market for forthcoming years.
5. In-depth understanding of precision agriculture market-particular drivers, constraints, and major micro markets.
6. Favourable impression inside vital technological and market latest trends striking the precision agriculture market.
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