Precision Farming Market is expected to generate a revenue of USD 18.53 Billion by 2028, Globally, at 13.00% CAGR: Verified Market Research®
Precision Farming Market size was valued at USD 6.92 Billion in 2020 and is projected to reach USD 18.53 Billion by 2028, growing at a CAGR of 13.00% from 2021 to 2028, according to the most recent study from Verified Market Research.
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Browse in-depth TOC on "Precision Farming Market"
202 - Pages
126 – Tables
37 – Figures
Report Scope
Global Precision Farming Market Overview
The concepts of precision farming and precision agriculture are interchangeable. When it comes to cultivating crops and keeping livestock, precision farming improves the practice of farming. The utilization of information technology, including GPS guidance, control systems, robots, autonomous vehicles, sensors, drones, variable rate technologies, GPS-based soil sampling, automated hardware, telematics, and software, is the key aspect of modern farming.
The term VRT refers to a technology that enables farmers to manage the quantity of input in a particular region using variable input applications. Farmers may optimize their sowing and fertilizing by using GPS soil sampling, which measures pH level, water content, and the amount of nutrients available in the soil. Remote sensing technology that keeps an eye on and maintains the land, water, and other resources is also a part of precision farming. Decisions on the farm may be made using this data. Precision farming's main goal is to assure profitability, sustainability, and efficiency while maintaining environmental protection.
Large farms are the main users of this technology since precision farming equipment is expensive, however accessible cell phones and trustworthy satellites can also offer low-cost farming methods. Accurate farm planning, crop scouting, and yield maps are produced using computer-based software. This makes it possible to apply insecticides, fertilizers, and herbicides with greater precision. As a result, it contributes to cost savings and generates a high yield.
IoT supports farmers in addressing a variety of issues related to effective farming, including crop monitoring, weather forecasting, and Precision Farming, which offers real-time data on the environment's temperature and weather. As a result, the precision farming market is expanding due to the increased use of precision farming in weather forecasting.
Key Developments
Key Players
The "Global Precision Farming Market" study report will provide a valuable insight with an emphasis on the global market. The major players in the market are
Based on the research, Verified Market Research has segmented the global Precision Farming Market into Offering, Technology, Application, and Geography.
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Agriculture And Farm Equipment Market By Product (Irrigation & Crop Processing Equipment, Spraying Equipment), By Application (Sowing & planting, Weed Cultivation), By Geography, And Forecast
Farm Variable Rate Technology (VRT) Market By Product (Fertilizer VRT, Crop Protection Chemical VRT, Soil Sensing VRT, Seeding VRT, Yield Monitor VRT, Irrigation VRT), By Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables), By Geography, And Forecast
Top Smart Farming Companies resurrecting the market of agriculture driven economies
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