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Global Precision Agriculture Market – Analysis & Forecast, 2016-2022

A strong emphasis on sustainable development due to the environmental issues has led to a global emergence of precision agriculture technologies. The market is estimated to reach $7.6 billion by 2022 at a CAGR of 12.7% through the forecast period. Increasing global demand for food, economic boom in APAC regions, and emerging technologies are some of the reasons responsible for the growth of this market.

SKU: AG15
Published Year: 2016
 
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With an emerging need of precision agriculture to manage inter and intra variability in the field, crop or soil and ensure high productivity in terms of quality and quantity both, the market is estimated to witness a growth at a CAGR of 12.7% over the period of 2016 to 2022. The market comprises of a combination of the hardware (GNSS/ GPS devices, sensing devices and others including cameras & displays) and the management systems & services. The growth in the market is accredited to its products reducing overall costs, increasing global food demand and economic boom in the Asia-Pacific region.

The report is a compilation of different segments of Global Precision Agriculture Market including market breakdown by components, applications, and different geographical areas. The revenue generated from the main device in the market, i.e.  GNSS/ GPS devices, has been tracked to calculate the market size. Under this component, its application areas, shaping the market have also been explained.

While highlighting the key driving and restraining forces for this market, the report also provides a detailed section of the application areas of the precision agriculture systems and solutions. It also details the key participants involved in the industry.

The report answers the following questions about the Global Precision Agriculture Market:
•    What are the dominant components, services & systems used in precision agriculture?
•    What are the different application areas of precision agriculture?
•    Which is the most sought-after component of precision agriculture technique?
•    What are the basic services & systems in the precision agriculture market?
•    What is the revenue generated by different components and applications of precision agriculture?
•    What are the different factors driving the market in the forecast period?
•    What are the major factors challenging the growth of Global Precision Agriculture Market?
•    What kind of new strategies are being adopted by existing market players to make a mark in the industry?
•    Which region will lead the Global Precision Agriculture Market by the end of forecast period?

The report puts special emphasis on the market share and size of the hardware components of precision agriculture, owing to the changing paradigms in the industry. In spite of this, due to less awareness about the techniques and their benefits, majority of people resist adopting precision agriculture methods. The industry analysis has evaluated the impact of the five major forces to understand the overall attractiveness of the industry. 

The most often used strategy for developing a better hold on to the market has been through product launches, followed by mergers & acquisitions. Moreover, the company profile section includes highlights of significant information about the key companies involved along with their financial positions key strategies, & developmental activities of recent years. Some of the key players involved in this market are Lindsay Corporation, Yara International, Deere & Co., the Toro Company, and CNH Industrial among others.

The North America generated the maximum amount of revenue in the year 2015 in the Global Precision Agriculture industry among all the regions and has the maximum potential to grow in the forecast period, followed by Asia-Pacific. The industry is expected to cross $7.6 billion in total market value by the end of forecast period with the opportunities of expanding through UAVs and smart phone technologies.

TABLE OF CONTENT
1 EXECUTIVE SUMMARY
2 REPORT SCOPE & METHODOLOGY
2.1 Report Scope
2.1.1 Market Definition
2.1.2 Report Coverage
2.1.2.1 Market Classification
2.1.2.1.1 Market Segmentation By Components
2.1.2.1.2 Market Segmentation By Geography
2.1.3 Assumptions & Limitations
2.1.4 Stakeholders
2.2 Research Parameters
2.2.1 Factor Analysis
2.2.1.1 Demand Side Analysis – Macro-Economic Factors
2.2.1.1.1 Growing Population With Growing Food Demand
2.2.1.1.2 Decrease In The Arable Land Globally
2.2.1.1.3 Water Scarcity And Need To Conserve Water
2.3 Research Design
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Data Analyzing & Market Estimation
2.3.3.1 Bottom-Up Approach
2.3.3.2 Top-Down Approach
3 MARKET DYNAMICS
3.1 Introduction
3.2 Market Drivers
3.2.1 Increasing Global Demand For Food
3.2.2 Economic Boom In The Asia Pacific Region
3.2.3 Cost Reduction
3.2.4 Modern Technologies And It Pushing The Demand
3.3 Restraints
3.3.1 Huge Capital Investments
3.3.2 Lack Of Awareness About Technology
3.3.3 Management Of Data For Productive Decision Making
3.4 Opportunities
3.4.1 Abundance Of Arable Land
3.4.2 Usage Of Unmanned Aerial Vehicles (UAV)
3.4.3 Expansion Of Smartphone Technology
4 COMPETITIVE LANDSCAPE
4.1 Market Share Analysis
4.2 Key Strategies & Developments In Precision Agriculture Market
4.2.1 Introduction
4.2.2 Mergers And Acquisitions
4.2.3 Partnerships, Collaborations & Joint Ventures
4.2.4 Product Launches
4.2.5 Business Expansion
4.2.6 Others (Awards & Recognitions)
4.3 Porter’s Five Forces Analysis
4.3.1 Introduction
4.3.2 Threat Of New Entrants
4.3.2.1 Capital Requirements
4.3.2.2 Product Differentiation
4.3.2.3 Government Policies
4.3.2.4 Economies Of Scale
4.3.2.5 Access To Distribution Channel
4.3.3 Bargaining Power Of Buyers
4.3.3.1 Concentration Of Buyers
4.3.3.2 Product Differentiation
4.3.3.3 Buyer’s Information About Supplier’s Product
4.3.3.4 Switching Cost
4.3.3.5 Presence Of Substitutes
4.3.4 Bargaining Power Of Suppliers
4.3.4.1 Product Differentiation
4.3.4.2 Supplier Concentration
4.3.4.3 Threat Of Forward Integration
4.3.4.4 Switching Cost
4.3.5 Threat From Substitutes
4.3.5.1 Switching Costs
4.3.5.2 Buyer’s Propensity Towards Substitute
4.3.6 Intensity Of Competitive Rivalry
4.3.6.1 Industry Concentration
4.3.6.2 Intermittent Over Capacity
4.3.6.3 Customer’s Loyalty Towards Brand
4.3.6.4 Switching Cost
4.3.6.5 Product Differentiation
4.3.6.6 Entry Barriers
5 PRECISION AGRICULTURE MARKET, BY COMPONENTS
5.1 Introduction
5.2 Hardware
5.2.1 GNSS/ GPS Devices
5.2.1.1 GNSS/GPS Devices – By Applications
5.2.1.1.1 Tractor Guidance
5.2.1.1.2 Automated Steering
5.2.1.1.3 VRT
5.2.1.1.4 Asset Management
5.2.1.2 GNSS/GPS Devices – By Geography
5.2.2 Sensing Devices & Other Devices
5.2.2.1 Types Of Sensors
5.2.2.1.1 Moisture Sensor
5.2.2.1.2 Temperature Sensors
5.2.2.1.3 Humidity Sensor
5.2.2.1.4 Rain Sensor
5.3 Management Systems & Services
5.3.1 Crop Management
5.3.2 Financial Management
5.3.3 Farm Inventory Management
5.3.4 Personnel Management
5.3.5 Weather Tracking And Forecasting
6 PRECISION AGRICULTURE MARKET, BY APPLICATION
6.1 Introduction
6.2 Yield Monitoring
6.3 Variable Rate Application
6.4 Field Mapping
6.5 Soil Monitoring
6.6 Crop Scouting
6.7 Precision Irrigation
6.8 Uav/Drones In Precision Agriculture
7 GEOGRAPHIC ANALYSIS – PRECISION AGRICULTURE MARKET
7.1 Introduction
7.2 North America
7.2.1 U.S.
7.2.2 Rest Of North America
7.3 Asia-Pacific
7.3.1 Australia
7.3.2 Japan
7.3.3 China
7.3.4 India
7.3.5 Rest Of Asia-Pacific
7.4 Europe
7.4.1 Eu28
7.4.2 Non-Eu28
7.5 Rest Of The World
7.5.1 South America
7.5.2 Middle-East & Africa
8 KEY COMPANY PROFILES
8.1 Introduction
8.2 AGCO Corporation
8.2.1 Company Overview
8.2.2 Financials
8.2.2.1 Overall Financials
8.2.2.2 Geographic Revenue Mix
8.2.2.3 Segment Revenue Mix
8.2.2.4 Financial Summary
8.2.3 Key Strategies & Developments
8.2.4 Swot Analysis
8.3 Ag Junction
8.3.1 Company Overview
8.3.2 Financials
8.3.2.1 Overall Financials
8.3.2.2 Segment Revenue Mix
8.3.2.3 Geography Revenue Mix
8.3.2.4 Financial Summary
8.3.3 Key Strategies & Developments
8.3.4 Swot Analysis
8.4 Ag Leader Technology
8.4.1 Company Overview
8.4.2 Key Strategies & Developments
8.5 Ag-Nav Inc.
8.5.1 Company Overview
8.5.2 Key Strategies & Developments
8.6 CNH Industrial
8.6.1 Company Overview
8.6.2 Financials
8.6.2.1 Overall Financials
8.6.2.2 Geographic Revenue Mix
8.6.2.3 Segment Revenue Mix
8.6.2.4 Financial Summary
8.6.3 Key Strategies & Developments
8.6.4 Swot Analysis
8.7 Deere & Company
8.7.1 Company Overview
8.7.2 Financials
8.7.2.1 Overall Financials
8.7.2.2 Segment Revenue Mix
8.7.2.3 Geography Revenue Mix
8.7.2.4 Financial Summary
8.7.3 Key Strategies & Developments
8.7.4 Swot Analysis
8.8 DICKEY- john
8.8.1 Company Overview
8.8.2 Key Strategies & Developments
8.9 Lindsay Corporation
8.9.1 Company Overview
8.9.2 Financials
8.9.2.1 Overall Financials
8.9.2.2 Segment Revenue Mix
8.9.2.3 Geography Revenue Mix
8.9.2.4 Financial Summary
8.9.3 Key Strategies & Developments
8.9.4 Swot Analysis
8.10 McCrometer, inc.
8.10.1 McCrometer, Inc. Summary
8.10.2 Key Developments
8.11 Monsanto
8.11.1 Company Overview
8.11.2 Financials
8.11.2.1 Overall Financials
8.11.2.2 Segment Revenue Mix
8.11.2.3 Geography Revenue Mix
8.11.2.4 Financial Summary
8.11.3 Key Strategies & Developments
8.11.4 Swot Analysis
8.12 Raven Industries
8.12.1 Company Overview
8.12.2 Financials
8.12.2.1 Overall Financials
8.12.2.2 Segment Revenue Mix
8.12.2.3 Geography Revenue Mix
8.12.2.4 Financial summary
8.12.3 Key Strategies & Developments
8.12.4 Swot Analysis
8.13 Topcon Corporation
8.13.1 Company Overview
8.13.2 Financials
8.13.2.1 Overall Financials
8.13.2.2 Segment Revenue Mix
8.13.2.3 Geography Revenue Mix
8.13.2.4 Financial Summary
8.13.3 Key Strategies & Developments
8.13.4 Swot Analysis
8.14 Toro Company
8.14.1 Company Overview
8.14.2 Financials
8.14.2.1 Overall Financials
8.14.2.2 Segment Revenue Mix
8.14.2.3 Geographic Revenue Mix
8.14.2.4 Financial Summary
8.14.3 Key Strategies & Developments
8.14.4 Swot Analysis
8.15 Trimble Navigation
8.15.1 Company Overview
8.15.2 Financials
8.15.2.1 Overall Financials
8.15.2.2 Segment Revenue Mix
8.15.2.3 Geographic Revenue Mix
8.15.2.4 Financial Summary
8.15.3 Key Strategies & Developments
8.15.4 Swot Analysis
8.16 Valmont Industries
8.16.1 Company Overview
8.16.2 Financials
8.16.2.1 Overall Financials
8.16.2.2 Segment Revenue Mix
8.16.2.3 Geographic Revenue Mix
8.16.2.4 Financial Summary
8.16.3 Key Strategies & Developments
8.16.4 Swot Analysis
8.17 Yara Inetrnational
8.17.1 Company Overview
8.17.2 Financials
8.17.2.1 Overall Financials
8.17.2.2 Geographic Revenue Mix
8.17.2.3 Segment Revenue Mix
8.17.2.4 Financial Summary
8.17.3 Key Strategies & Developments
8.17.4 Swot Analysis
LIST OF TABLES  
TABLE 1 PRESENT & ESTIMATED CHANGE IN POPULATION IN THE TEN MOST POPULOUS COUNTRIES
TABLE 2 PRECISION AGRICULTURE MARKET SIZE, BY COMPONENTS, 2016 – 2022 ($ MILLION)
TABLE 3 PRECISION AGRICULTURE HARDWARE MARKET SIZE, BY TYPE, 2016 – 2022 ($ MILLION)
TABLE 4 PRECISION AGRICULTURE HARDWARE MARKET SIZE, BY TYPE, 2016 – 2022 ($ MILLION)
TABLE 5 MARKET PLAYERS PROVIDING GNSS/GPS DEVICES
TABLE 6 GNSS/GPS DEVICES MARKET SIZE, BY TRACTOR GUIDANCE APPLICATION, 2016 – 2022 ($ MILLION)
TABLE 7 GNSS/GPS DEVICES MARKET SIZE, BY AUTOMATED STEERING APPLICATION, 2016 – 2022 ($ MILLION)
TABLE 8 GNSS/GPS DEVICES MARKET SIZE, BY VRT APPLICATION, 2016 – 2022 ($ MILLION)
TABLE 9 GNSS/GPS DEVICES MARKET SIZE, BY ASSET MANAGEMENT APPLICATION, 2016 – 2022 ($ MILLION)
TABLE 10 DEVELOMENTS PERTAINING TO GNSS/ GPS DEVICES
TABLE 11 GNSS/GPS DEVICES MARKET SIZE, BY GEOGRAPHY, 2016 – 2022 ($ MILLION)
TABLE 12 GNSS/GPS DEVICES MARKET SIZE, BY GEOGRAPHY, 2016 – 2022 (UNITS)
TABLE 13 SENSING & OTHER DEVICES MARKET SIZE, BY GEOGRAPHY, 2016 – 2022 ($ MILLION)
TABLE 14 MARKET PLAYERS PROVIDING SENSING DEVICES
TABLE 15 DEVELOMENTS PERTAINING TO SENSING DEVICES
TABLE 16 MANAGEMENT SYSTEMS & SERVICES MARKET SIZE, BY GEOGRAPHY, 2016 – 2022 ($ MILLION)
TABLE 17 PRECISION AGRICULTURE MARKET SIZE, BY APPLICATION, 2016 – 2022 ($MILLION)
TABLE 18 MARKET PLAYERS PROVIDING CUSTOMERS WITH YIELD MONITORING PRODUCTS
TABLE 19 MARKET PLAYERS PROVIDING CUSTOMERS WITH VRA PRODUCTS
TABLE 20 MARKET PLAYERS PROVIDING CUSTOMERS WITH FARM MAPPING PRODUCTS
TABLE 21 MARKET PLAYERS PROVIDING CUSTOMERS WITH SOIL MONITORING SOLUTIONS
TABLE 22 MARKET PLAYERS PROVIDING CUSTOMERS WITH CROP SCOUTING SOLUTIONS
TABLE 23 MARKET PLAYERS PROVIDING WITH PRECISION IRRIGATION PRODUCTS
TABLE 24 DEVELOPMENTS PERTAINING TO UAV IN PRECISION AGRICULTURE
TABLE 25 LISTS OF PLAYERS IN AGRICULTURE UAV MARKET
TABLE 26 UAV UNITS SHIPPED IN AGRICULTURE, 2016 – 2022 (UNITS)
TABLE 27 PRECISION AGRICULTURE MARKET SIZE, BY GEOGRAPHY, 2016 – 2022 ($MILLION)
TABLE 28 NORTH AMERICA: PRECISION AGRICULTURE MARKET SIZE, BY COUNTRY, 2016 – 2022 ($MILLION)
TABLE 29 APAC: PRECISION AGRICULTURE MARKET SIZE, BY COUNTRY, 2016 – 2022 ($MILLION)
TABLE 30 EUROPE: PRECISION AGRICULTURE MARKET SIZE, BY COUNTRY, 2016 – 2022 ($MILLION)
TABLE 31 ROW: PRECISION AGRICULTURE MARKET SIZE, BY REGION
LIST OF FIGURES
FIGURE 1 GLOBAL PRECISION AGRICULTURE MARKET
FIGURE 2 GLOBAL PRECISION AGRICULTURE MARKET BY COMPONENTS
FIGURE 3 PRECISION AGRICULTURE MARKET BY APPLICATION
FIGURE 4 PRECISION AGRICULTURE MARKET BY GEOGRAPHY
FIGURE 5 PRECISION AGRICULTURE MARKET SEGMENTATION
FIGURE 6 PRECISION AGRICULTURE MARKET SEGMENTATION, BY COMPONENT
FIGURE 7 PRECISION AGRICULTURE MARKET SEGMENTATION, BY GEOGRAPHY
FIGURE 8 PRECISION AGRICULTURE MARKET – STAKEHOLDERS
FIGURE 9 RESEARCH PARAMETERS
FIGURE 10 GROWING POPULATION AND FOOD DEMAND
FIGURE 11 CHANGE IN WORLD’S ARABLE LAND AREA
FIGURE 12 PROJECTED WATER SCARCITY, 2025 – HEAT MAP
FIGURE 13 REPORT DESIGN
FIGURE 14 DATA TRIANGULATION
FIGURE 15 SOURCES OF SECONDARY RESEARCH
FIGURE 16 PRIMARY INTERVIEWS BREAKDOWN, BY PLAYERS, DESIGNATION, AND REGION
FIGURE 17 BOTTOM-UP APPROACH
FIGURE 18 TOP-DOWN APPROACH
FIGURE 19 DRO OF PRECISION AGRICULTURE MARKET & THE INTENSITY OF IMPACT
FIGURE 20 PRECISION AGRICULTURE MARKET SHARE ANALYSIS, 2014
FIGURE 21 ORGANIC & INORGANIC STRATEGIES ADOPTED BY THE KEY PLAYERS
FIGURE 22 TOTAL NUMBER OF STRATEGIES & DEVELOPMENTS
FIGURE 23 KEY MERGERS & ACQUISITIONS (2013 TO PRESENT)
FIGURE 24 KEY PARTNERSHIPS & COLLABORATIONS (2014-15)
FIGURE 25 KEY PRODUCT LAUNCHES (2013-15)
FIGURE 26 KEY BUSINESS EXPANSION ACTIVITIES (2013-15)
FIGURE 27 PORTER’S FIVE FORCES ANALYSIS FOR THE PRECISION AGRICULTURE INDUSTRY
FIGURE 28 PRECISION AGRICULTURE MARKET SIZE, BY COMPONENT, 2016 AND 2022 ($ MILLION)
FIGURE 29 PRECISION AGRICULTURE HARDWARE COMPONENTS MARKET SIZE, BY TYPE, 2016 AND 2022 ($ MILLION)
FIGURE 30 PRECISION AGRICULTURE MARKET SIZE FOR GNSS/GPS, 2016 AND 2022
FIGURE 31 SNAPSHOTS - GNSS/GPS MARKET BY APPLICATIONS
FIGURE 32 GNSS/GPS MARKET – GEOGRAPHIC ANALYSIS, 2016
FIGURE 33 SENSING & OTHER DEVICES MARKET SNAPSHOT
FIGURE 34 MANAGEMENT SYSTEMS & SERVICES MARKET SIZE, 2016 AND 2022 ($MILLION)
FIGURE 35 PRECISION AGRICULTURE MARKET BY APPLICATION
FIGURE 36 YIELD MONITORING – THE FASTEST GROWING APPLICATION OF PRECISION AGRICULTURE
FIGURE 37 UAVS ARE EXTENSIVELY USED IN AGRICULTURE APPLICATION
FIGURE 38 PRECISION AGICULTURE MARKET GROWTH - GEOGRAPHIC SNAPSHOT, 2016
FIGURE 39 ASIA-PACIFIC REGION TO HAVE THE FASTEST GROWTH IN PRECISION AGRICULTURE MARKET
FIGURE 40 NORTH AMERICAN PRECISION AGRICULTURE MARKET SNAPSHOT
FIGURE 41 U.S.: PRECISION AGRICULTURE MARKET, 2016 – 2022 ($MILLION)
FIGURE 42 ASIA-PACIFIC: PRECISION AGRICULTURE MARKET SNAPSHOT
FIGURE 43 EUROPEAN PRECISION AGRICULTURE MARKET SNAPSHOT
FIGURE 44 PROS & CONS IN EUROPE
FIGURE 45 ATTRACTIVE OPPORTUNITIES FOR GNSS/GPS DEVICES IN EUROPE
FIGURE 46 EU28: PRECISION AGRICULTURE MARKET SIZE, BY COMPONENTS
FIGURE 47 EU28: PRECISION AGRICULTURE MARKET SIZE
FIGURE 48 NONEU28: PRECISION AGRICULTURE MARKET SIZE
FIGURE 49 NONEU28: PRECISION AGRICULTURE MARKET SIZE
FIGURE 50 ROW: PRECISION AGRICULTURE MARKET
FIGURE 51 GEOGRAPHIC REVENUE MIX OF TOP 6 PLAYERS IN THE MARKET
FIGURE 52 OVERALL FINANCIALS, 2012-14 ($ MILLION)
FIGURE 53 GEOGRAPHIC REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 54 SEGMENT REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 55 OVERALL FINANCIALS, 2012-14 ($ MILLION)
FIGURE 56 SEGMENT REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 57 GEOGRAPHIC REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 58 OVERALL FINANCIALS, 2012-14 ($ BILLION)
FIGURE 59 GEOGRAPHIC REVENUE MIX, 2013-14 ($ BILLION)
FIGURE 60 SEGMENT REVENUE MIX, 2012-14 ($ BILLION)
FIGURE 61 OVERALL FINANCIALS, 2013-15 ($ BILLION)
FIGURE 62 SEGMENT REVENUE MIX, 2013-15 ($ BILLION)
FIGURE 63 GEOGRAPHIC REVENUE MIX, 2013-15 ($ BILLION)
FIGURE 64 OVERALL FINANCIALS, 2013-15 ($ MILLION)
FIGURE 65 SEGMENT REVENUE MIX, 2013-15 ($ MILLION)
FIGURE 66 GEOGRAPHIC REVENUE MIX, 2013-15 ($ MILLION)
FIGURE 67 OVERALL FINANCIALS, 2013-15 ($ BILLION)
FIGURE 68 SEGMENT REVENUE MIX, 2013-15 ($ BILLION)
FIGURE 69 GEOGRAPHIC REVENUE MIX, 2013-15 ($ MILLION)
FIGURE 70 OVERALL FINANCIALS, 2013-15 ($ MILLION)
FIGURE 71 SEGMENT REVENUE MIX, 2013-15 ($ MILLION)
FIGURE 72 GEOGRAPHIC REVENUE MIX, 2013-15 ($ MILLION)
FIGURE 73 OVERALL FINANCIALS, 2012-14 ($ MILLION)
FIGURE 74 SEGMENT REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 75 GEOGRAPHIC REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 76 OVERALL FINANCIALS, 2012-14 ($ BILLION)
FIGURE 77 SEGMENT REVENUE MIX, 2012-14 ($ BILLION)
FIGURE 78 GEOGRAPHIC REVENUE MIX, 2012-14 ($ BILLION)
FIGURE 79 OVERALL FINANCIALS, 2012-14 ($ MILLION)
FIGURE 80 SEGMENT REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 81 GEOGRAPHIC REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 82 OVERALL FINANCIALS, 2012-14 ($ MILLION)
FIGURE 83 SEGMENT REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 84 GEOGRAPHIC REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 85 OVERALL FINANCIALS, 2012-14 ($ MILLION)
FIGURE 86 GEOGRAPHIC REVENUE MIX, 2012-14 ($ MILLION)
FIGURE 87 SEGMENT REVENUE MIX, 2012-14 ($ MILLION)

A strong emphasis on sustainable development due to the environmental issues has led to a global emergence of precision agriculture technologies. The market is estimated to reach $7.6 billion by 2022 at a CAGR of 12.7% through the forecast period. Increasing global demand for food, economic boom in APAC regions, and emerging technologies are some of the reasons responsible for the growth of this market. However, the market consists of some constraints such as huge capital investment required, lack of awareness, and data management issues which are hampering its overall growth.

The precision agriculture market has been tracked along the lines of its components, application areas, and geography. Herein, the revenue generated from the components i.e. hardware and management services & systems, is tracked in order to calculate the market size. The revenue generated from various application areas namely- yield monitoring, precision irrigation, variable rate application, field mapping, soil monitoring, and crop scouting, have been analyzed. 

The hardware components used in precision agriculture hold 85% of the market, the management systems and services, though significant, hold lesser share. The high price and maintenance costs of the hardware add up to form the reasons leading to their domination on the market at present and in the forecast period. These are divided into GNSS/ GPS devices, sensing devices and others (including cameras & displays). The section of GNSS/ GPS devices further segmented and analyzed into its various applications areas. These are the maximum used hardware of precision agriculture and are said to be the backbone of this industry because it assists the user in reducing the missing and overlapping of the inputs in the field. Other widely used devices are the sensors, which sense and calculate the input requirements of the soil and crop.

This report covers the global precision agriculture market, and consequently provides the revenue of the key regions – North America, Europe, Asia-Pacific (APAC), and Rest of the World (ROW). The analysis has identified that North America was the largest revenue generating segment in 2015, the reason being the fact that it includes both the developed nations of the U.S. and Canada which favors a high degree of investments in key areas than any other region. APAC is the next region leading in the market since it includes major countries such as Australia, India and China, which are predominantly involved into agriculture.

Some of the key players in the industry are: AGCO Corporation, CNH Industrial, Deere & Co., Lindsay Corporation, The Toro Company, and Yara International among others. These companies are aiming for more product launches and mergers & acquisitions to expand their operations and prevent the new entrants from entering the market.

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