Precision Agriculture

Precision Agriculture – How is it Changing the Market Dynamics?

In the recent past, the dynamics of the industry has changed drastically with the rise of disruptive technologies in the field of agriculture. Also, the demand for food grains and agriculture produce has always on the rise due to increasing population. But the shrinking supply of agricultural land, depletion of natural resources and declining workforce creates a gap between the two. Over the years different measures have been adopted to bridge this gap and precision agriculture is one of them. It is a way to manage the agricultural operations with support from technology so that both the soil and crops are nourished with the right nutrients and at the right time. The use of technology in this process ensures that human error does not affect it. According to a market research report, published by the BIS research, titled ‘Global Precision Agriculture Market’ – Focus on Solutions and Application, the market for technological advancement in the agriculture industry is likely to witness an upward trend in the near future.

It is further indicated that the agriculture market is expected to bring along advancement in the technology in terms of solutions for hardware equipment, software systems and services for major application areas. These solutions will include software applications & tools, cloud services, sensors, robotic & automation systems, monitoring and navigation system, optimal distribution & use of farm equipment and consultancy services etc. All these solutions can be utilized for different applications in farm activities like field management, tillage of land, planting, irrigation and fertilization. Amongst these applications areas which are likely to display maximum growth in the future are data management, precision spraying and field monitoring.

The expected growth in the precision agriculture market is attributed to increasing awareness, government initiatives, need to adopt sustainable practices and concern towards the environment. And, the implementation of site-specific farming will lead to effective management of resources & raw materials. Another interesting facet is that the trends vary across the geographical regions and the market is likely to grow not just in developing countries but also in developed countries. Emerging countries in the North American region are likely to display a robust growth in the coming years. Additionally, companies like DuPont, BASF, Monsanto and BASF are investing heavily to digitalize the agriculture industry.

BIS Research has conducted an extensive market research and the market intelligence reports published by it aims to provide an in-depth analysis of the key development strategies and market trend dynamics which includes drivers, restraints and opportunities prevailing in the industry.

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