Precision farming Market Size, Demand, Analytical Overview, Comprehensive Analysis, Segmentation, Competitive Landscape 2035
Driven by the ongoing efforts to overcome the inefficiencies related to conventional farming practices, the market is likely to present lucrative opportunities for precision farming companies in coming years
The global precision farming market size is estimated to grow from USD 10.43 billion in 2024 to USD 27.29 billion by 2035, growing at a CAGR of 9.1%, during the forecast period.
The growing food requirements in order to feed the growing population our world needs to produce 70% more food in next few years. Conventional agriculture practices are inefficient to produce sufficient food for rapidly growing population which is a greatest challenges faced by many countries. It is worth mentioning that various advantages offered by precision farming has garnered the attention of stakeholders to further invest in research and development. Precision farming market represent one of the fastest growing segments of the agriculture industry. This can be attributed to the rapidly growing need to reduce timelines and increase capacity of crop production, without compromising on the quality of crop yield. Further, rising preference for sustainable agriculture practices is another factor that has led agriculture industries to explore the potential of digital technologies in farming. Precision agriculture have the potential to offer various benefits such as increased crop yield, improved efficiency of process, environmental sustainability, climate resilience, risk mitigation and conservation of resources that helps farmers to cultivate, feed, harvest, and distribute food more efficiently.
The modernization of the farming process has been more visible and successful as a result of the recent breakthroughs in the geospatial technologies, satellite-based monitoring, variable rate technology, remote sensing, data analytics, artificial intelligence and machine learning. Considering the current market trends and innovation landscape, we anticipate that the next generation of machine learning technologies will be integrated with advanced data analytics, and process and equipment modeling to form comprehensive systems, for the purpose of real-time monitoring and predictive analysis. Further, we believe owing to the rising popularity of cloud and IoT based process technologies, the precision farming market is expected to witness steady growth over the coming years.
Precision farming: overall market landscape- The current market landscape features the presence of over 90 players that claim to offer more than 300 hardware in the precision farming market; of these, most of the precision farming providers are based in North America (42%), followed by those located in Europe (36%). It is worth noting that North America has emerged as the hub of precision farming. This can be attributed to the fact that farmers in North America have large size farms, access to fast internet and well-established infrastructure to integrate advanced technologies.
Research Methodology
Our analysts have performed an accurate examination of the various aspects of the global market leveraging avant-garde primary and secondary sources of data collection. The report has gathered the necessary data and information from several reliable sources. Additionally, the report offers many strategic recommendations for companies involved in this ever-growing business sector to help them attain a competitive edge in the Precision Farming Market.
Thank you for reading our report. Kindly get in touch with us to know more about the report or to receive a customized copy of it. Our team will ensure the report is tailored according to your needs.
To view more details on this report, click on the link
https://www.rootsanalysis.com/reports/precision-farming-market.html
About Roots Analysis
Roots Analysisis a global leader in the market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights.
We specialise in analysing areas which have lacked quality research so far or require more focused understanding within the broader industry. All our reports are structured in a way to enable the reader develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we also provide bespoke research / consulting services dedicated to serve our clients in the best possible way.
The research efforts are driven by a global team. The leadership team brings a wealth of experience within the sector. Their collective experience in pharmaceutical / affiliated domains allows us to tackle various areas of research in a structured way. We also regularly leverage our global network of experts who hold senior leadership positions in reputed firms and organisations worldwide.
Contact:
Roots Analysis
