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 – By Offering:
Hardware
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 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:
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.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Technology
5.1.1 Introduction
5.1.2 Remote Sensing
5.1.2.1 Handheld
5.1.2.2 Satellite Sensing
5.1.3 Guidance System
5.1.3.1 Global Positioning System
5.1.3.2 Geographical Information System
5.1.4 Variable Rate Technology
5.1.4.1 Sensor-Based
5.1.4.2 Map-Based
5.1.5 Y-o-Y Growth Analysis, By Technology
5.1.6 Market Attractiveness Analysis, By Technology
5.1.7 Market Share Analysis, By Technology
5.2 Offering
5.2.1 Introduction
5.2.2 Hardware
5.2.2.1 Sensing and Monitoring Devices
5.2.2.1.1 Yield Monitors
5.2.2.1.2 Soil Sensors
5.2.2.1.2.1 Moisture Sensors
5.2.2.1.2.2 Nutrient Sensors
5.2.2.1.2.3 Temperature Sensors
5.2.2.1.3 Water Sensors
5.2.2.1.4 Climate Sensors
5.2.2.1.5 Others
5.2.2.2 Automation & Control System
5.2.2.2.1 Display
5.2.2.2.2 Guidance and Steering
5.2.2.2.3 Drones/UAV
5.2.2.2.4 Mobile Devices/Handheld Computers
5.2.2.2.5 GPS/GNSS System
5.2.2.2.6 Flow and Application Control Devices
5.2.2.2.7 Others
5.2.3 Software
5.2.3.1 Web Based
5.2.3.2 Cloud Based
5.2.4 Services
5.2.4.1 Managed Services
5.2.4.1.1 Farm Operation Services
5.2.4.1.2 Analytics Services
5.2.4.1.3 Data Services
5.2.4.2 Assisted Professional Services
5.2.4.2.1 Supply Chain Management Services
5.2.4.2.2 Climate Information Services
5.2.4.2.3 Others
5.2.4.3 Connectivity Services
5.2.4.4 System Integration and Consulting
5.2.4.5 Maintenance and Support Services
5.2.5 Y-o-Y Growth Analysis, By Offering
5.2.6 Market Attractiveness Analysis, By Offering
5.2.7 Market Share Analysis, By Offering
5.3 Application
5.3.1 Introduction
5.3.2 Field Mapping
5.3.2.1 Drainage Mapping
5.3.2.2 Boundary Mapping
5.3.3 Yield Monitoring
5.3.3.1 On-Farm Yield Monitoring
5.3.3.2 Off-Farm Yield Monitoring
5.3.4 Crop Scouting
5.3.5 Inventory Management
5.3.6 Irrigation Management
5.3.7 Farm Labor Management
5.3.8 Financial Management
5.3.9 Weather Tracking & Forecasting
5.3.10 Others
5.3.11 Y-o-Y Growth Analysis, By Application
5.3.12 Market Attractiveness Analysis, By Application
5.3.13 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Technology
6.1.3.3 By Offering
6.1.3.4 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Technology
6.1.4.3 By Offering
6.1.4.4 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Technology
6.1.5.3 By Offering
6.1.5.4 By Application
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Raven Industries
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Deere & Company
8.3 AGCO Corporation
8.4 Trimble Navigation Ltd
