North America precision farming market
is expected to grow at a double-digit CAGR during the forecast period on account
of several government initiatives to adopt modern agricultural techniques. More
and more farmers are adopting precision farming/agriculture as the big data and
integrated farming management system enables farmers to improve the production
efficiently. Food security is a fundamental issue to human existence and
diminishing arable land, unfavorable climatic conditions and depleting
resources are stressing for improving farming practices, thereby driving
precision farming market in North America.
North America precision farming
market can be segmented based on component, technology, application and country.
In terms of component, the market can be segmented into hardware, software and
services. Hardware is the dominant segment and is poised to grow at high pace
during forecast period on account of high adoption of control and automation
devices, such as sensors, drones/UAVs, cameras, GPS/GNSS. In terms of
application, the market can be segmented into yield monitoring, field mapping,
crop scouting, weather tracking, irrigation management, inventory management,
farm labor management and others. Yield monitoring is the dominant segment in
the market and the same trend is likely to continue during forecast period as
it helps farmers to take decisions pertaining to the yield.
The market of precision farming in
North America is gaining traction and expanding to various countries such as
Canada, US and Mexico. Due to the early adoption of precision farming
technologies in countries such as US and Canada, the market is predicted to
grow at impressive rate through 2024. In 2016, Canadian government invested in
clean seed capital group, to commercialize precision agriculture technology and
restrict the excess usage of fertilizers and pesticides, thereby positively
impacting the precision agriculture/farming market in the region.
List of major players operating in
North America precision farming market include AG Leader Technology, AGCO
Corporation, Trimble, Cropmetrics, SST Development Group, Dickey-john Corp., Agribotix
LLC, Autocopter Corp., Deere & Company, Raven Industries, etc. Major
companies are developing advanced technologies and launching new products in
order to stay competitive in the market. Other competitive strategies include
mergers & acquisitions and new product developments.
Years considered for this report:
Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the
Study:
- To analyze and forecast the market size of North
America precision farming market.
- To classify and forecast North America precision
farming market based on component, technology, application and regional
distribution.
- To identify drivers and challenges for North
America precision farming market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in North
America precision farming market.
- To conduct pricing analysis for North America precision
farming market.
- To identify and analyze the profile of leading players involved in North
America precision farming market.
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Some of the leading players
in North America precision farming market include AG Leader Technology,
AGCO Corporation, Trimble, Cropmetrics, SST Development Group, Dickey-john
Corp., Agribotix LLC, Autocopter Corp., Deere & Company, Raven Industries,
etc.
TechSci Research performed
both primary as well as exhaustive secondary research for this study.
Initially, TechSci Research sourced a list of service providers across the
globe. Subsequently, TechSci Research conducted primary research surveys with
the identified companies. While interviewing, the respondents were also
enquired about their competitors. Through this technique, TechSci Research could
include the service providers which could not be identified due to the
limitations of secondary research. TechSci Research analyzed the product
offerings, distribution channels and presence of all major service providers across
the globe.
TechSci Research calculated the market size of North America precision
farming market using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target
Audience:
- Precision farming software
and solution providers and other stakeholders
- Agricultural equipment
manufacturers
- Electronic hardware
equipment manufacturers
- Government bodies such as
regulating authorities and policy makers
- Organizations, forums and
alliances related to precision farming market
- Market research and
consulting firms
The
study is useful in providing answers to several critical questions that are
important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in
strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, North America precision
farming market has been segmented into following categories, in addition
to the industry trends which have also been detailed below:
- Market, By Component:
- Hardware
- Sensors
- Drones/UAVs
- Guidance & Steering Systems
- Mobile Devices
- Cameras
- GPS/GNSS
- Software
- Services
- System Integration & Consulting
- Maintenance & Support
- Professional & Managed Services
- Market, By Technology:
- Guidance System
- Remote Sensing
- Variable Rate Technology
- Market, By Application:
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking
- Irrigation Management
- Inventory Management
- Farm Labor Management
- Others
- Market, By Country:
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in North America precision farming market.
Available
Customizations:
With the given market data,
TechSci Research offers customizations according to a company’s specific needs.
The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market
players (up to five).
In case you don’t find what you are
looking for, please get in touch with our custom research team at [email protected]
It is an upcoming report to
be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at [email protected]