nav Searchuser
Maxunitech Inc.
Beijing Multigrass Formulation Co., Ltd.

Precision farming market to grow at 12% to $4.55 billion by 2020qrcode

Nov. 7, 2014

Favorites Print
Forward
Nov. 7, 2014

Precision farming market to grow at 12% to $4.55 billion by 2020

According to the report “Precision Farming Market by Technology, Components, Application and Geography - Global Forecasts to 2020”, the total precision farming market size is expected to grow at a CAGR of 12.2% from 2014 to 2020 and reach $4.55 billion by 2020.
 
Major drivers for this market are augmented yield and profitability, which are contributing factors for farmers to opt for precision farming; other drivers like energy & cost saving, and government assistance have also been contributing to the market growth. Major restraints like high initial investments, and lack of awareness and their impact analysis are also covered under this study.
 
Precision farming is observed to be in its matured phase in the U.S. market. Outside the U.S., South America, APAC, and Europe; particularly, Brazil, Argentina, Eastern Europe, and China – are fuelling a strong double-digit growth as they are in early stages in the adoption life cycle; also, due to the large consolidated farming operations in those regions.
 
The major companies contributing significantly in precision farming market includes AgJunction Inc. (U.S.), Ag Leader Technology (U.S.), Dickey-John Corporation (U.S.), Teejet Technologies (U.S.), Deere &Company (U.S), Trimble Navigation System (U.S.), Precision Planting Inc.(U.S.), ACGO Corporation (U.S.), Topcon Precision Agriculture (U.S.), and Raven Industries Inc. (U.S.).
 

Picture 0/1200

More from AgroNews

Sichuan Lomon Bio Technology Co., Ltd.

Magazine

2019 India Pesticide Suppliers Guide 2019 Biologicals Special
2019 Latin America Focus 2019 Formulation & Adjuvant Technology
Annual Review 2018 Chinese issue of Annual Review 2018
Subscribe Comment

Subscribe 

Subscribe Email: *
Name:
Mobile Number:  

Comment  

Picture 0/1200

Subscribe to daily email alerts of AgroNews.