Asia Pacific Precision Agriculture Market was worth USD 1.92 billion in 2021 and is estimated to be growing at a rate of 18.9%, to reach USD 3.09 billion by 2026. The practice of precision agriculture allows farmers to improve production and get better yields with decreased human effort and decreased wastage of resources. Decisions regarding agricultural inputs such as applying nutrients, soil humidity and weather pattern research and diversity in rotating crops are made easy for farmers with the use of precision farming.
Farming can be automated with very less amount of human effort with the use of precision farming. The major component in this approach is the use of sensors and drones with GPS guidance monitor the fields and relay the information to the farmers using information technology. Tractors and harvesting machines can automated and driven with GPS guidance with increased precision and reduction of wastage of resources.
Drivers and Restraints of Asia Pacific Precision Agriculture Market:
Increased emphasis of efficient farming and to increase the productivity with optimized resources is expected to drive the precision agriculture market. Increasing adoption of smartphones and the cost and yield benefits of using precision farming in extensive farming are also driving the market growth. However, technical glitches occurring in the use of drones and sensors and high costs of equipment are restricting the market for precision farming.
Asia Pacific Precision Agriculture Market – By Technology:
Guidance system is the largest market segment as it includes GPS and GIS which are essential in precision farming.
Asia Pacific Precision Agriculture Market – By Offering:
Cloud based software is rapidly gaining popularity and is the fastest growing segment.
Asia Pacific Precision Agriculture Market – By Application:
Irrigation management is expected to be the fastest growing segment due to increasing scarcity of water.
Asia-Pacific Precision Agriculture Market Regional Analysis:
The Asia-Pacific market for precision agriculture is divided into China, India, Japan, Australia and South Korea. Asia-pacific is the fastest growing market for precision farming because of developing countries such as India and China which are rapidly adopting new technology-based farming practices. Moreover, India and China has vast agricultural land providing many opportunities for the expansion of precision agriculture market.
Some of the major companies which manufacture the equipment required in the precision agriculture market are Trimble, Inc. (U.S.), Deere & Company (U.S.), AJ Junction, Inc. (U.S.), Leica Geosystems (Switzerland), AgSmarts Inc., Monsanto Company, CropMetrics LLC and Dickey-John Corporation.
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