Wiseguyreports.Com Publish New Market Research Report On -“Precision Farming Market 2019 Global Analysis, Size, Share, Trends, Opportunities and Growth, Forecast 2024”
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Precision Farming
Get a complete insight into the current market scenario, structure and practices Precision Farming in the new Wise Guys report. It talks about how the precision farming market was valued at USD 5.1 billion back in 2018 and is projected to reach USD 9.5 billion by 2023, at a CAGR of 13% between 2018 and 2023.
As per the report, it suggests that Precision farming is a farm management strategy that utilizes IT to guarantee that plants and soil receive precisely what they need for optimum health and productivity. Precision agriculture ensures protection of environment and profitability.
Numerous techniques such as IoT, GPS, and remote sensing application control are used for a profound knowledge of various farming elements such as irrigation and plowing. IoT enables farmers tackle multiple difficulties associated with adequate crop surveillance. Software for predictive analytics utilizes the information to provide farmers with advice on crop rotation, optimum planting times, harvesting times and soil management. Precision agriculture was previously restricted to bigger activities capable of supporting the IT infrastructure and other technological resources needed to fully execute and profit from the advantages of precision farming. But today, mobile apps, intelligent sensors, drones, and cloud computing allow farming cooperatives and even tiny family farms to accurately farm.
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Market structure & Analysis of Precision Farming
The report defines Market Scenario and Market landscape which includes current market size estimate, revenues by players, Market size by product categories. Based on the application the market report provides the snapshot of key competition with past market trends. It includes forecast over the next 5 years, anticipated growth rates and principal factors driving and impacting growth.
Global & Regional Industry forecast
The method of precision farming relies mainly on specialized machinery such as sensing devices, antennas and access points, and automation and control systems. It also includes services of maintenance and managed services. There is a wide variety of techniques, including bio-engineering, robotics and automation, imaging and sensors, and big data.
However, the level of acceptance of technology among farmers over the forecast period is low which is likely to hamper market growth. This may be due to variables such as the lack of rigorous norms and information exchange constraints. In addition, due to the lack of validated agronomic models for Variable Rate Technology (VRT) to make investment choices, farmers lack autonomous consulting and advisory facilities.
In 2018, North America was ahead in the market as it grew in terms of revenue. It became an early technology adopter. Factors such as increased public efforts to adopt modern farming techniques and advanced infrastructure have led to the regional market’s elevated income.
In developing nations such as India, Sri Lanka and Nigeria, numerous public initiatives are conducted to encourage the application of contemporary agricultural technologies, thereby maximizing productivity. In addition, an efficient administrative structure also allows farmers to acquire appropriate understanding about the correct use and maintenance of farm equipment. The Canadian government, for example, invested USD 425,000 in the Clean Seed Capital Group in November 2016 to improve and market precision farming technology.
Complete Report Details @ https://www.wiseguyreports.com/reports/4328727-precision-farming-market-analysis-global-regional-industry-forecast-2018-2023
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