Published Year:2018
Global IoT in Agriculture Market - Analysis and Forecast (2018-2023): Focus on Systems (Sensing, Com
The IoT in agriculture market is projected to grow from $14.78 billion in the year 2018 to...
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Report Description
The GIS software in agriculture industry analysis by BIS Research projects the market to grow at a significant CAGR of 10.41% duri
Key Questions Answered in this Report
What is the expected global GIS software in agriculture market size in terms of value during the period 2018-2024?
Market Overview
The GIS software in agriculture industry analysis by BIS Research projects the market to grow at a significant CAGR of 10.41% duri
Table of Contents
1.1 Market Drivers
1.1.1 Tackling Global Food Insecurity
1.1.2 Favourable Government Initiatives and Investments
1.1.3 Growing Need for Precision Farming
1.2 Market Restraints
1.2.1 High Initial Investment Costs
1.2.2 Availability of Open Source GIS Software and Applications
1.3 Market Opportunities
1.3.1 Rising Opportunities in Developing Countries
1.3.2 Adoption of Drones in Agriculture
2.1 Key Market Developments and Strategies
2.1.1 New Product Launches and Developments
2.1.2 Partnerships, Collaborations & Joint Ventures
2.1.3 Merger and Acquisition
2.1.4 Others (Business Expansions, Contract, Rewards, and Recognitions)
2.2 Market Share Analysis
3.1 Product Differentiation in GIS Software in Agriculture Market
3.2 Emerging Trends in the GIS Software in Agriculture Market
3.2.1 Use of 5D Mapping for GIS Software in Agriculture
3.2.2 Applications of IoT in GIS Software in Agriculture
3.3 Pricing Analysis
3.4 Industry Attractiveness
3.4.1 Threat of New Entrants
3.4.2 Bargaining Power of Buyers
3.4.3 Bargaining Power of Suppliers
3.4.4 Threat from Substitutes
3.4.5 Intensity of Competitive Rivalry
4.1 On-Cloud
4.2 On-Premise
5.1 Crop Monitoring
5.2 Soil Analysis
5.3 Irrigation Monitoring
5.4 Others
6.1 North America
6.1.1 North America (by Application)
6.1.2 North America (by Country)
6.1.2.1 U.S.
6.1.2.2 Canada
6.1.2.3 Mexico
6.2 Europe
6.2.1 Europe (by Application)
6.2.2 Europe (by Country)
6.2.2.1 Germany
6.2.2.2 France
6.2.2.3 Italy
6.2.2.4 Spain
6.2.2.5 Rest-of-Europe
6.3 Asia-Pacific Japan
6.3.1 Asia-Pacific Japan (by Application)
6.3.2 Asia-Pacific Japan (by Country)
6.3.2.1 Australia & New Zealand
6.3.2.2 Japan
6.3.2.3 India
6.3.2.4 Vietnam
6.3.2.5 Rest-of-Asia-Pacific Japan
6.4 Middle East Africa
6.4.1 Middle East Africa (by Application)
6.4.2 Middle East Africa (by Country)
6.4.2.1 Israel
6.4.2.2 South Africa
6.4.2.3 Kenya
6.4.2.4 Rest-of-Middle East Africa
6.5 China
6.5.1 China (by Application)
6.6 South America
6.6.1 South America (by Application)
6.6.2 South America (by Country)
6.6.2.1 Brazil
6.6.2.2 Argentina
6.6.2.3 Rest-of-South America
6.7 U.K.
6.7.1 U.K. (by Application)
7.1 Overview
7.2 Autodesk, Inc.
7.2.1 Company Overview
7.2.2 Role of Autodesk, Inc. in GIS Software in Agriculture Market
7.2.3 Product Portfolio
7.2.4 Financials
7.2.5 SWOT Analysis
7.3 Computer Aided Development Corporation Ltd. (Cadcorp)
7.3.1 Company Overview
7.3.2 Role of Cadcorp in GIS Software in Agriculture Market
7.3.3 Product Portfolio
7.3.4 SWOT Analysis
7.4 Earth Observing System
7.4.1 Company Overview
7.4.2 Role of Earth Observing System in GIS Software in Agriculture Market
7.4.3 SWOT Analysis
7.5 Environmental System Research Institute (ESRI)
7.5.1 Company Overview
7.5.2 Role of ESRI in GIS Software in Agriculture Market
7.5.3 Product Portfolio
7.5.4 SWOT Analysis
7.6 Geosoft Inc.
7.6.1 Company Overview
7.6.2 Role of Geosoft Inc. in GIS Software in Agriculture Market
7.6.3 Product Portfolio
7.6.4 SWOT Analysis
7.7 Hexagon AB
7.7.1 Company Overview
7.7.2 Role of Hexagon AB in GIS Software in Agriculture Market
7.7.3 Product Portfolio
7.7.4 Financials
7.7.5 SWOT Analysis
7.8 Hi-Target Surveying Instrument Co., Ltd
7.8.1 Company Overview
7.8.2 Role of Hi-Target Surveying Instrument Co., Ltd in GIS Software in Agriculture Market
7.8.3 Product Portfolio
7.8.4 SWOT Analysis
7.9 L3 Harris Technologies
7.9.1 Company Overview
7.9.2 Role of L3 Harris Technologies, Inc. in GIS Software in Agriculture Market
7.9.3 Product Portfolio
7.9.4 Financials
7.9.5 SWOT Analysis
7.10 Oracle Corporation
7.10.1 Company Overview
7.10.2 Role of Oracle Corporation Inc in GIS Software in Agriculture Market
7.10.3 Product Portfolio
7.10.4 Financials
7.10.5 SWOT Analysis
7.11 Parrot SA
7.11.1 Company Overview
7.11.2 Role of Parrot SA in GIS Software in Agriculture
7.11.3 Product Portfolio
7.11.4 Financials
7.11.5 SWOT Analysis
7.12 Pitney Bowes Inc.
7.12.1 Company Overview
7.12.2 Role of Pitney Bowes Inc. in GIS Software in Agriculture Market
7.12.3 Product Portfolio
7.12.4 Financials
7.12.5 SWOT Analysis
7.13 SuperMap Software Co., Ltd.
7.13.1 Company Overview
7.13.2 Role of SuperMap Software Co., Ltd. in GIS Software in Agriculture Market
7.13.3 Product Portfolio
7.13.4 Financials
7.13.5 SWOT Analysis
7.14 Takor Group Ltd
7.14.1 Company Overview
7.14.2 Role of Takor Group Ltd in GIS Software in Agriculture Market
7.14.3 Product Portfolio
7.14.4 SWOT Analysis
7.15 Topcon Corporation
7.15.1 Company Overview
7.15.2 Role of Topcon Corporation in GIS Software in Agriculture Market
7.15.3 Product Portfolio
7.15.4 Financials
7.15.5 SWOT Analysis
7.16 Trimble Inc.
7.16.1 Company Overview
7.16.2 Role of Trimble Inc. in GIS Software in Agriculture Market
7.16.3 Product Portfolio
7.16.4 Financials
7.16.5 SWOT Analysis
8.1 Scope of the Report
8.2 Global GIS Software in Agriculture Market Segmentation
8.3 Global GIS Software in Agriculture Market Research Methodology
8.3.1 Assumptions
8.3.2 Limitations
8.3.3 Primary Data Sources
8.3.4 Secondary Data Sources
8.3.5 Data Triangulation
8.3.6 Market Estimation and Forecast
Table 1.1: Impact Analysis of Drivers
Table 1.2: Impact Analysis of Restraints
Table 3.1: Product Differentiation
Table 3.2: Prices of Various GIS Software Offered by Key Players
Table 3.3: Analyzing Threat of New Entrants
Table 3.4: Analyzing Bargaining Power of Buyers
Table 3.5: Analyzing Bargaining Power of Suppliers
Table 3.6: Analyzing the Threat from Substitute
Table 3.7: Analyzing the Intensity of Competitive Rivalry
Table 4.1: Global GIS Software in Agriculture Market (by Solution Type), $Million, 2018-2024
Table 4.2: Spending by Key Countries on Cloud Computing Technologies (2019)
Table 4.3: Players Offering On-Cloud Software Solutions
Table 4.4: Players Offering On-Premise Software Solutions
Table 5.1: Global GIS Software in Agriculture Market (by Application), $Million, 2018-2024
Table 6.1: Global GIS Software in Agriculture Market (by Region), $Million, 2018-2024
Table 6.2: North America Global GIS Software in Agriculture Market (by Application), $Million, 2018-2024
Table 6.3: North America Global GIS Software in Agriculture Market (by Country), $Million, 2018-2024
Table 6.4: Europe GIS Software in Agriculture Market (by Application), $Million, 2018-2024
Table 6.5: Europe GIS Software in Agriculture Market (by Country), $Million, 2018-2024
Table 6.6: Asia-Pacific Japan GIS Software in Agriculture Market (by Application), $Million, 2018-2024
Table 6.7: Asia-Pacific Japan GIS Software in Agriculture Market (by Country), $Million, 2018-2024
Table 6.8: Middle East Africa GIS Software in Agriculture Market (by Application), $Million, 2018-2024
Table 6.9: Middle East Africa GIS Software in Agriculture Market (by Country), $Million, 2018-2024
Table 6.10: China GIS Software in Agriculture Market (by Application), $Million, 2018-2024
Table 6.11: South America GIS Software in Agriculture Market (by Application), $Million, 2018-2024
Table 6.12: South America GIS Software in Agriculture Market (by Country), $Million, 2018-2024
Table 6.13: U.K. GIS Software in Agriculture Market (by Application), $Million, 2018-2024
Table 7.1: Autodesk, Inc. Product Portfolio
Table 7.2: Cadcorp Product Portfolio
Table 7.3: Earth Observing System. Product Portfolio
Table 7.4: Esri Product Portfolio
Table 7.5: Geosoft Inc. Product Portfolio
Table 7.6: Hexagon AB Product Portfolio
Table 7.7: Hi-Target Surveying Instrument Co., Ltd Product Portfolio
Table 7.8: L3 Harris Technologies Product Portfolio
Table 7.9: Oracle Corporation Product Portfolio
Table 7.10: Parrot SA: Product Portfolio
Table 7.11: Pitney Bowes Inc Product Portfolio
Table 7.12: SuperMap Software Co., Ltd. Product Portfolio
Table 7.13: Takor Group Ltd Product Portfolio
Table 7.14: Topcon Corporation Product Portfolio
Table 7.15: Trimble Inc.: Product Portfolio
Figure 1: Macroeconomic Trends Impacting the Farming Industry Growth
Figure 2: Drivers and Restraints: Global GIS Software in Agriculture Market
Figure 3: Global GIS Software in Agriculture Market Snapshot
Figure 4: Global GIS Software in Agriculture Market (by Solution), $Million, 2019 & 2024
Figure 5: Global GIS Software in Agriculture Market (by Application), 2019 & 2024 ($Million)
Figure 6: Regional GIS Software in Agriculture Market, 2018-2024
Figure 1.1: Market Dynamics
Figure 1.2: Global Agricultural Production (Million Tons), 2008-2019
Figure 1.3: Total Farm Expenditure and Farm Income Statistics in the U.S., 2013-2020F
Figure 2.1: Strategies Adopted by the Key Players (2017-2020)
Figure 2.2: Share of Key Market Strategies and Developments (2017-2020)
Figure 2.3: New Product Launches and Developments Share (by Company)
Figure 2.4: Partnerships, Collaborations and Joint Ventures Share (by Company)
Figure 2.5: Mergers and Acquisitions Share (by Company)
Figure 2.6: Others (Business Expansions, Contract, Rewards, and Recognitions) Share (by Company)
Figure 2.7: Market Share Analysis of the Leading Players in the Market, 2018
Figure 3.1: 5D Mapping for GIS Software in Agriculture and its Benefits
Figure 3.2: Porter’s Five Forces Analysis for the GIS Software in Agriculture Market
Figure 4.1: Different Solution Types in GIS Software in Agriculture Market
Figure 4.2: Global GIS Software in Agriculture Market for On-Cloud Solution, $Million, 2018-2024
Figure 4.3: Global GIS Software in Agriculture Market for On-Premise Solution, $Million, 2018-2024
Figure 4.4: Factors Limiting Enterprises from Using Cloud Computing Services
Figure 5.1: Key Applications of GIS Software in Agriculture
Figure 5.2: Global GIS Software in Agriculture Market for Crop Monitoring, $Million, 2018-2024
Figure 5.3: Global GIS Software in Agriculture Market for Soil Analysis, $Million, 2018-2024
Figure 5.4: Methods Used to Develop Predictive Maps of Soil Classes and Soil Properties
Figure 5.5: Global GIS Software in Agriculture Market for Irrigation Monitoring, $Million, 2018-2024
Figure 5.6: Functionalities of GIS Software Solutions for Irrigation Monitoring
Figure 5.7: Global GIS Software in Agriculture Market for Others, $Million, 2018-2024
Figure 6.1: GIS Software in Agriculture: Regional Market Snapshot
Figure 6.2: North America GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.3: Economic and Demographic Factors Impacting GIS Software in Agriculture Market in the U.S.
Figure 6.4: U.S. GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.5: Canada GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.6: Economic and Demographic Factors Impacting GIS Software in Agriculture Market in Canada
Figure 6.7: Mexico GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.8: Economic and Demographic Factors Impacting GIS Software in Agriculture Market in Mexico
Figure 6.9: Factors Impacting Adoption of GIS Software in Agriculture in Europe
Figure 6.10: Europe GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.11: Economic and Demographic Factors Impacting GIS Software in Agriculture Market in Germany
Figure 6.12: Germany GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.13: France GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.14: Economic and Demographic Factors Impacting GIS Software in Agriculture Market in France
Figure 6.15: Italy GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.16: Economic and Demographic Factors Impacting GIS Software in Agriculture Market in Italy
Figure 6.17: Spain GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.18: Rest-of-Europe GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.19: Asia-Pacific Japan GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.20: Australia & New Zealand GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.21: Japan GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.22: Economic and Demographic Factors Impacting GIS Software in Agriculture Market in Japan
Figure 6.23: India GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.24: Vietnam GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.25: Rest-of-Asia-Pacific Japan GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.26: Middle East Africa GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.27: Israel GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.28: South Africa GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.29: Kenya GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.30: Rest-of-Middle East Africa GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.31: China GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.32: South America GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.33: Economic and Demographic Factors Impacting GIS Software in Agriculture Market in Brazil
Figure 6.34: Brazil GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.35: Argentina GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.36: Economic and Demographic Factors Impacting GIS Software in Agriculture Market in Argentina
Figure 6.37: Rest-of-South America GIS Software in Agriculture Market, $Million, 2018-2024
Figure 6.38: U.K. GIS Software in Agriculture Market, $Million, 2018-2024
Figure 7.1: Segmentation of Key Companies Profiled (by Headquarter Location)
Figure 7.2: Autodesk, Inc.: Overall Financials, 2017-2019
Figure 7.3: Autodesk, Inc.: Net Revenue by Business Segment, 2017-2019
Figure 7.4: Autodesk, Inc.: Net Revenue by Regional Segment, 2017-2019
Figure 7.5: Autodesk, Inc. : SWOT Analysis
Figure 7.6: Cadcorp: SWOT Analysis
Figure 7.7: Earth Observing System: SWOT Analysis
Figure 7.8: Esri: SWOT Analysis
Figure 7.9: Geosoft Inc.: SWOT Analysis
Figure 7.10: Hexagon AB.: Overall Financials, 2016-2018
Figure 7.11: Hexagon AB: Net Revenue by Business Segment, 2016-2018
Figure 7.12: Hexagon AB: Net Revenue by Regional Segment, 2016-2018
Figure 7.13: Hexagon AB: SWOT Analysis
Figure 7.14: Hi-Target Surveying Instrument Co., Ltd: SWOT Analysis
Figure 7.15: L3 Harris Technologies: Overall Financials, 2017-2019
Figure 7.16: L3 Harris Technologies: Net Revenue by Business Segment, 2017-2019
Figure 7.17: L3 Harris Technologies: Net Revenue by Regional Segment, 2017-2019
Figure 7.18: L3 Harris Technologies: SWOT Analysis
Figure 7.19: Oracle Corporation: Overall Financials, 2017-2019
Figure 7.20: Oracle Corporation: Net Revenue by Business Segment, 2017-2019
Figure 7.21: Oracle Corporation: Net Revenue by Regional Segment, 2017-2019
Figure 7.23: Parrot SA: Overall Financials, 2016-2018
Figure 7.24: Parrot SA: Net Revenue by Business Segment, 2016-2018
Figure 7.25: Parrot SA: Net Revenue by Regional Segment, 2016-2018
Figure 7.26: Parrot SA: SWOT Analysis
Figure 7.27: Pitney Bowes Inc: Overall Financials, 2016-2018
Figure 7.28: Pitney Bowes Inc.: Net Revenue by Business Segment, 2016-2018
Figure 7.29: Pitney Bowes Inc: Net Revenue by Regional Segment, 2016-2018
Figure 7.30: Pitney Bowes Inc: SWOT Analysis
Figure 7.31: SuperMap Software Co., Ltd. Corporation: Overall Financials, 2017-2019
Figure 7.32: SuperMap Software Co., Ltd.: SWOT Analysis
Figure 7.33: Takor Group Ltd: SWOT Analysis
Figure 7.34: Topcon Corporation: Overall Financials, 2016-2018
Figure 7.35: Topcon Corporation: Net Revenue by Business Segment, 2016-2018
Figure 7.36: Topcon Corporation: Net Revenue by Regional Segment, 2016-2018
Figure 7.37: Topcon Corporation: SWOT Analysis
Figure 7.38: Trimble Inc.: Overall Financials, 2016-2018
Figure 7.39: Trimble Inc.: Net Revenue by Business Segment, 2016-2018
Figure 7.40: Trimble Inc.: Net Revenue by Regional Segment, 2016-2018
Figure 7.41: Trimble Inc.: SWOT Analysis
Figure 8.1: GIS Software in Agriculture Market Scope
Figure 8.2: Global GIS Software in Agriculture Market Segmentation
Figure 8.3: Report Methodology
Figure 8.4: Primary Interviews Breakdown, by Player, Designation, and Region
Figure 8.5: Sources of Secondary Research
Figure 8.6: Data Triangulation
Figure 8.7: Top Down and Bottom-Up Approaches for Market Estimation
Report Description
Market Report Coverage - Global GIS Software in Agriculture Market
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Base Year
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2018 |
Market Size by 2018
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$1.44 Billion |
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Forecast Period
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2019-2024 |
Value Estimation by 2024
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$2.57 Billion |
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CAGR During Forecast Period
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10.41% |
Number of Tables
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Market Segmentation
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• Solution Type – On-Cloud and On-Premise • Application – Crop Monitoring, Soil Analysis, Irrigation Monitoring, and others |
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Regional Segmentation
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• North America – U.S., Canada, and Mexico • Europe – Germany, France, Italy, Spain, and Rest-of-Europe • Asia-Pacific – India, Australia & New Zealand, Japan, Vietnam, and Rest-of-Asia-Pacific • Middle East Africa – Israel, South Africa, Kenya, and Rest-of-Middle East Africa • China • South America – Brazil, Argentina, and Rest-of-South America • U.K. |
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Key Companies Profiled
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The key market players in the global GIS software in agriculture market include ESRI, Trimble Inc., Topcon Corporation, Hexagon AB, Pix4D, Autodesk, Inc., Earth Observing System, Geosoft, Inc., Hi-Target Surveying Instrument Co. Ltd., L3 Harris Technologies, Parrot SA, Pitney Bowes Inc., Takor Group Ltd., and Oracle Corporation, among others |
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Market Segmentation
Market Outlook by Solution Type
In terms of market value, the on-cloud GIS software solutions have dominated the global GIS software in agriculture market during the forecast period and generated a market revenue of $1.04 billion in 2019. Factors such as technology maturation and widespread adoption of GIS software have contributed massively towards the growth of on-cloud GIS software solutions.
Market Segmentation by Application
Out of all the applications, crop monitoring applications occupy most of the market share in the global market for GIS software in agriculture market. The application areas of GIS software solutions in agriculture cover a wide range of farm assessment aspects, including irrigation, field monitoring, soil mapping, yield forecasting, plant health management, and data management. The irrigation sector represents the most significant application market for GIS software in agriculture technologies.
Market Segmentation by Region
North America region holds the most prominent market share for the GIS software in agriculture market globally and generated the highest revenue of $432.3 million in 2018. Although North America and the European region hold a major market share, other developing regions such as Japan, Middle East Africa, and South America are witnessing massive opportunities day by day. During the forecast period, the European market for GIS software in agriculture is expected to witness a CAGR of 9.33%.
Key Questions Answered in this Report
Key Questions Answered in this Report:
• What is the expected global GIS software in agriculture market size in terms of value during the period 2018-2024?
• What is the expected future scenario and revenue generated by the different types of solutions such as on-premise and on-cloud software, for GIS software in agriculture?
• What is the expected future scenario and revenue generated by the GIS software in agriculture for different applications in farming including crop monitoring, soil analysis, and irrigation monitoring, among others?
• Which geographical region is the largest market for global GIS software in agriculture market?
• What is the expected future scenario and the revenue generated by different geographical regions and countries such as North America, South America, the U.K., Europe, Middle East Africa, China, and Asia-Pacific Japan in the global GIS software in agriculture market?
• What is the expected future scenario and revenue generated by different applications of GIS software in agriculture in different regions such as North America, South America, the U.K., Europe, Middle East Africa, China, and Asia-Pacific Japan?
• What is the competitive strength of the key players in the GIS software in agriculture on the basis of the analysis of their recent developments, product offerings, and regional presence?
• What are the emerging trends in global GIS software in agriculture market?
• How is the adoption scenario, related opportunities and challenges associated with GIS software in agriculture?
• What are the market dynamics of the global GIS software in agriculture market including market drivers, restraints, and opportunities?
• What will be the major market driving trends for GIS software in agriculture in terms of business model, market consolidation, and new product offerings?
Market Overview
Market Overview and Estimation
As the world population stood at 7.7 billion in 2019, the pressure on the food and agriculture value chain to meet the global food demand is increasing with every passing day. With limited and continuously depleting natural resources and shrinking arable land due to urbanization, the need to optimize farm resources in order to produce agricultural commodities optimally is rising day by day.
In 2019, only 28.10% of the total employed population were working in the agricultural sectors. In comparison to 2000, the share has fallen drastically from the figure of 40.06%. To combat the problems related to rising food demand, leading technology providers are introducing innovative solutions in the farming arena. Technologies such as Geographic Information System (GIS) and Global Navigation Satellite Systems (GNSS) help farmers interpret, analyze, and assess data to make smart farming decisions.
In our recently conducted industry analysis, the global GIS software in agriculture industry is projected to cater to a market revenue of $2.57 billion in 2024 as compared to $1.44 billion generated in 2018 while growing at a CAGR of 10.41 during the forecast period 2019-2024. The growing need to elevate farm produce has resulted in awareness among governments worldwide, which has contributed to the growth of this market. The massive usage of this technology also aims at solving the rising concerns over global food security, resulting in intensive investments from governments and stakeholders globally.
Substantial technological changes such as the integration of remote sensing equipment, implementation of Internet of Things (IoT) and Information and Communication Technologies (ICT), application of Artificial Intelligence (AI), and predictive analytics in the farming scenario, have fuelled the growth and adoption of GIS technologies for the purpose of yield forecasting, pest monitoring, crop monitoring, irrigation monitoring, and soil analysis, among others. Several GIS software providers are progressing towards making their solutions compatible with popular brands that offer drones in the agriculture space.
Some of the prominent players in the GIS software in agriculture market include ESRI, Trimble Inc., Topcon Corporation, Hexagon AB, Pix4D, Autodesk, Inc., and Oracle Corporation, among others. In order to create public awareness about their existing and new products and compete with their competitor’s product portfolio, key market players have ramped up their product launch activities in recent years. For instance, in 2019, Hexagon AB launched GeoMedia, which is an on-cloud GIS software solution for precision agriculture.
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Growth Drivers
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• Tackling Global Food Insecurity • Favourable Government Initiatives and Investments |
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Market Challenges
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• High Initial Investment Costs • Availability of Open Source GIS Software and Applications |
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Market Opportunities
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• Rising Opportunities in Developing Countries • Adoption of Drones in Agriculture |
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Growth Factors
Tackling Global Food Insecurity
As per the recent report by the United Nations (UN), the world population reached an all-time high mark with 7.7 billion people in 2019. Due to factors such as the limited availability of natural resources and depleting arable land, global governments are actively involved in introducing efficient farm management practices to support the farming sector in achieving the goal of food self-sufficiency.
Favourable Government Initiatives and Investments
As the agriculture industry stands on the brink of technological revolution, developed and developing countries realize its importance and take initiatives to promote smart farming techniques. In the Asia-Pacific region, the government is providing support in terms of subsidy, regulations, and research in the related fields. Additionally, several governments and private research institutes, and favorable trade policies, are making efforts to identify the benefits of agricultural drone and robot solutions for augmenting global food production.
Growing Need for Precision Farming
As traditional farming approaches are being replaced with technological solutions, precision farming solutions are supporting farmers in field monitoring, plant health management, soil mapping, and smart irrigation, among others. The use of GIS software helps farmers capture, store, manipulate, analyze, manage, and present spatial or geographic data for their farms.
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