Asia Pacific Precision Farming Market

Asia Pacific Precision Farming Market Size, Growth, Trends and Forecast:

Asia Pacific Precision Farming Market was worth USD 1.21 billion in 2021 and is projected to grow at a CAGR of 16.4%, to reach USD 2.62 billion by 2026.

Precision farming is one of the advanced farming techniques. It involves measuring, observing and responding to the variability in crops, farming field and weather. The objective of precision farming is to aid the farmers to make precise decisions and to increase output to input ratio through optimal use of resources.

It reduces human efforts on field through the use of automated and semi-automated agricultural devices which can be controlled from a distance with the help of remote sensing and satellite guiding technology. With the use of installed sensors in the field, temperature, soil humidity and soil nutrition levels can be analyzed and take appropriate actions.

Asia Pacific Precision Farming Market Drivers:

Increasing use of cloud based technology, growing adoption rate of modern farming techniques to enhance productivity, growing food demand are the major factors driving the precision agriculture market. The increasing need to increase the food production in the available agricultural land and government initiatives to increase the usage of modern technologies in agriculture are propelling the market growth. However, requirement of high initial investment and lack of proper awareness among the farmers are hindering the market growth.

Asia Pacific Precision Farming Market Segmentation:

Asia Pacific Precision Farming Market – By Offering:

• Hardware

  • Automation and control system
  • and Sensing and Monitoring devices
• Software
  • Web based and cloud based software
• Services

Automation and control systems dominate the market in this segment as they heavily reduce the human effort and aid in the increase of productivity. Cloud based software is the fastest growing segment due to its vast database and high demand.

Asia Pacific Precision Farming Market – By Technology:

• Guidance system
• Variable rate technology
• remote sensing

Guidance system is the largest market segment as it precision agriculture is highly relied on using GPS and GIS systems.

Asia Pacific Precision Farming Market – By Application:

• Yield Monitoring
• Field Mapping
• Crop Scouting
• Weather Tracking & Forecasting
• Irrigation Management
• Inventory Management
• Farm Labour Management
• Financial Management

Irrigation management holds the largest market share in precision farming market due to the increasing scarcity of water and increasing adoption of micro irrigation control systems in agriculture. However, yield monitoring is expected to be the fastest growing segment due to the growing food demand with rapidly growing population.

Geographical Analysis:

On the basis of region, the Asia Pacific Precision Farming market is segmented into China, India, Japan, Australia and South Korea. Asia-Pacific is the fastest growing market segment as this region has the largest agricultural land providing huge growth potential for manufacturers with China as the market leader in this region.

Key Players:

Some of the major players in Precision Farming market are Raven Industries, Deere & Company, AGCO Corporation, Trimble Navigation Ltd, Monsanto Company, Dupont, Agjunction, Inc, Precision Planting, Inc, SST Development Group, and Dickey-John Corporation.