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

SKU: AG002B

Published Year: 2016

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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