Latin America Precision Agriculture Market was worth USD 1.21 billion in 2021 and is estimated to be growing at a rate of 15.4%, to reach USD 2.13 billion by 2026. To make agriculture more efficient and productive, lot of technologies are available in recent years. Precision agriculture is one of such practices. It enables farmers to manage large stretch of land as a group of small fields thus increasing the crop efficiency and decreases the errors in product application.
Previously, farmers used to gather information about soil humidity, temperature of soil and nutrient levels, monitor irrigation rates and soil drainage themselves which takes a lot of time and effort especially in case of extensive farming practice. Moreover, the information is crude and unreliable sometimes. With the use of precision farming, all those inputs can be gathered with the use of sensors and drones reducing the time and effort required to obtain the information and with increased accuracy.
Latin America Precision Agriculture Market Drivers:
Rising popularity for telematics technology in precision farming, declining in agricultural land and the need to increase the productivity of crops, decline in natural resources are the major factors driving the precision farming market. Rapid boost in the population and food demands are also expected to drive the market. Huge initial investments making farmers who practice intensive farming unable to afford the equipment and lack of proper awareness about the cost benefits associated with using precision farming are hindering the market growth.
Latin America Precision Agriculture Market – By Offering:
Hardware
Cloud based software is rapidly gaining popularity and is the fastest growing segment.
Latin America Precision Agriculture Market – By Technology:
Guidance system is the largest market segment as it includes GPS and GIS which are essential in precision farming.
Latin America Precision Agriculture Market – By Application:
Irrigation management is expected to be the fastest growing segment due to increasing scarcity of water.
Regional Analysis:
Latin America precision farming market is geographically segmented into Brazil, Argentina, Mexico and rest of South America. Latin America market is projected to grow significantly in the given forecast period. Increasing educated farmers and their ability to adopt latest technologies in the market is driving the market in this region.
Key Players:
Major manufacturing companies in the precision agriculture market are Trimble, Inc. (U.S.), Deere & Company (U.S.), AgSmarts Inc., AJ Junction, Inc. (U.S.), CropMetrics LLC, Leica Geosystems (Switzerland), Monsanto Company 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 Offering
5.1.1 Introduction
5.1.2 Hardware
5.1.2.1 Automation & Control System
5.1.2.1.1 Guidance & Steering
5.1.2.1.2 Drones/UAV
5.1.2.1.3 Display
5.1.2.1.4 GPS/GNSS System
5.1.2.1.5 Mobile Devices/Handheld Computers
5.1.2.1.6 Flow and Application Control Devices
5.2.2.1.7 Others
5.1.2.2 Sensing and Monitoring Devices
5.1.2.2.1 Yield Monitors
5.1.2.2.2 Soil Sensors
5.1.2.2.2.1 Nutrient Sensors
5.1.2.2.2.2 Moisture Sensors
5.1.2.2.2.3 Temperature Sensors
5.1.2.2.3 Water Sensors
5.1.2.2.4 Climate Sensors
5.1.2.2.5 Others
5.1.3 Software
5.1.3.1 Web based
5.1.3.2 Cloud based
5.1.4 Services
5.1.4.1 System Integration and Consulting
5.1.4.2 Managed Services
5.1.4.2.1 Farm Operation Services
5.1.4.2.2 Data Services
5.1.4.2.3 Analytics Services
5.1.4.3 Assisted Professional Services
5.1.4.3.1 Supply Chain Management Services
5.1.4.3.2 Climate Information Services
5.1.4.3.3 Others
5.1.4.4 Connectivity Services
5.1.4.5 Maintenance and Support Services
5.1.5 Y-o-Y Growth Analysis, By Offering
5.1.6 Market Attractiveness Analysis, By Offering
5.1.7 Market Share Analysis, By Offering
5.2 Technology
5.2.1 Introduction
5.2.2 Remote Sensing
5.2.2.1 Handheld
5.2.2.2 Satellite Sensing
5.2.3 Guidance System
5.2.3.1 Geographical Information System (GIS)
5.2.3.2 Global Positioning System (GPS)
5.2.4 Variable Rate Technology
5.2.4.1 Sensor-Based
5.2.4.2 Map Based
5.2.4.3 Some Major Applications of Vrt
5.2.5 Y-o-Y Growth Analysis, By Technology
5.2.6 Market Attractiveness Analysis, By Technology
5.2.7 Market Share Analysis, By Technology
5.3 Application
5.3.1 Introduction
5.3.2 Yield Monitoring
5.3.2.1 On-Farm Yield Monitoring
5.3.2.2 Off-Farm Yield Monitoring
5.3.3Field Mapping
5.3.3.1 Boundary Mapping
5.3.3.2 Drainage Mapping
5.3.4 Crop Scouting
5.3.5 Weather Tracking & Forecasting
5.3.6 Irrigation Management
5.3.7 Inventory Management
5.3.8 Farm Labor Management
5.3.9 Financial Management
5.3.10 Y-o-Y Growth Analysis, By Application
5.3.11 Market Attractiveness Analysis, By Application
5.3.12 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 Offering
6.1.3.3 By Technology
6.1.3.4 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Offering
6.1.4.3 By Technology
6.1.4.4 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Offering
6.1.5.3 By Technology
6.1.5.4 By Application
6.2 Brazil
6.3 Mexico
6.4 Rest of Latin America
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 Deere & Company (U.S.)
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
8.2Trimble, Inc. (U.S.)
8.3 Leica Geosystems
8.4 AJ Junction, Inc.
8.5Monsanto Company
8.6 AgSmarts Inc.
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