North America Is Dominating Precision Farming Market
The precision farming market is estimated to touch USD 10.1 billion in 2023, and it will touch USD 19.9 billion, growing at a 10.1% compound annual growth rate, by 2030.
The key propellers for the industry are quick urbanization, rising food needs with the expanding populace, government aids for the agricultural industry, advancing electrification rate and internet obtainability, rising knowledge of improved agrarian tech, altering weather patterns, and growing acceptance of IoT and AI in agriculture.
Precision farming is gaining more traction because of the growing utilization of IoT and enhanced analytics by farmers. Connected devices strewn around the fields screen the level of wetness and nutrients in the soil and aid in projecting rain, agrochemical needs, and sunshine hours. By studying the information produced by such devices, agriculturalists are in a position to use resources better and attain healthier and better yields.
Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/precision-farming-market/report-sample
The rising acceptance of smartphones is one of the solidest drivers for the precision farming market. Numerous agrarian tech businesses have made smartphone apps that permit agriculturalists to screen the field remotely.
Also, smartphone applications can be utilized to control agrarian drones, robotic and autonomous tractors, smart irrigation systems, and cameras and sensors that screen livestock. Moreover, with the growing deployment of 5G networks, information sharing between such machines, smartphone applications, and centralized databases will become smoother.
In the offering segment, hardware accounts for a major proportion of revenue, and this trend is expected to continue in the coming decade. A wide range of sensing devices, automated and control systems, radio antennas, or access points are included in precision agriculture equipment.
One of these is a GIS Guidance System for Farmers that enables them to observe the environment and working procedures in the field. Likewise, the variable rate tech permits operators to pinpoint areas that require more pesticides and seeds, therefore allowing their suitable application across the field.
The yield monitoring category is dominating the market, and the category is also projected to dominate in the future as well. This is mainly because AI and IoT support agriculturalists in deciding on the application of inputs, like fertilizers, water, pesticides, and micronutrients.
Harm to harvests can happen because of numerous reasons, including plant diseases, pests, temperature variations, incessant or irregular rainfall, or lack of inputs. By screening their harvest continuously, agriculturalists can avoid the loss of their harvest and dodge a potential financial catastrophe.
North America dominates the precision farming industry, mainly because the region is the first to adopt such progressive technologies. The growing steps of the government to support the acceptance of contemporary technologies, along with the advancing ICT infrastructure, have contributed to the dominance of the continent on the market.
Browse full report at: https://www.psmarketresearch.com/market-analysis/precision-farming-market
About P&S Intelligence
P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.
Contact:
Phone: +1-347-960-6455
Email: [email protected]
Web: https://www.psmarketresearch.com
