Precision Farming Market to Grow at a CAGR of 13.36% to 2018 adds report “Precision Farming Market by Technology (GPS/GNSS, GIS, Remote Sensing & VRT), Components (Automation & Control, Sensors, FMS), Applications (Yield Monitoring, VRA, Mapping, Soil Monitoring, Scouting) – Global Forecast & Analysis (2013 – 2018)” to its store.

The global population is expected to rise up to, nearly, 7.5 billion by the year 2020, and the ability to manage and tackle the ever increasing demand for food would, in all likelihood, continue to plague the world. Global warming continues to be an influential deciding factor in determining agriculture productivity, as well as the soil properties, and sustainability of natural resources. The effect of climate change on agriculture is related to variability in local climates rather than the global climate patterns.

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All these concerns marked the way for the entry of the new world of agriculture management practices. Precision farming can significantly reduce the amount of nutrient and other crop inputs used while boosting yields. Farmers, thus, obtain a return on their investment by saving on phytosanitory and fertilizer costs. The second large- scale benefit of targeting inputs in spatial, temporal and qualitative terms reduce concerns of environmental impacts.

The growth of market is expected to be remarkable, and it estimated to reach $3721.27 million by 2018, at an estimated CAGR of 13.36% from 2013 to 2018. The major players in this industry are Deere & Co. (U.S.), Trimble Navigation (U.S.), Topcon positioning systems (U.S.), Raven Industries (U.S.), Precision Planting (U.S), AGCO (U.S.), and so on.

The major drivers for this market are augmented yield & profitability, which are the major contributing factors for farmers to go 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. North America, currently, leads the market share for precision farming as this region has the maximum adoption. APAC is the emerging market for precision framing and has been enjoying the highest growth rate among all the geographic regions. It is believed that the APAC market will grow at a CAGR of 25.16% from 2013 to 2018.

The report covers all the technologies, components, and applications of precision farming; it provides a detailed analysis of the current market scenario and estimation for the next five years. Major applications like field mapping and yield monitoring are driving the market. Moreover, the market is driven, furthermore, by some of the most important technologies like Global Positioning System (GPS) and variable rate technologies. This market is already progressing well in developed countries, and it is also expected to grow well even in the developing nations as a result of their ever growing food demands.

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This report describes the value chain for precision framing market by considering all the major stakeholders in the market, and their role analysis. This report shows the life cycle analysis of precision farming industry. The report also performs a detailed scrutiny of the Porter’s five force analysis for the market. All the five major factors in these markets have been quantified using the internal key parameters governing each of them.

The report covers recent developments in the substation automation industry; for example, Topcon Positioning (U.S.) acquired GEOTOP (Italy) in August 2012, Trimble Navigation (U.S.), acquiring Gatewing (Belgium), in June 2012. Several other recent developments and updated information about acquisitions, mergers, and new product launches and agreements conducted, recently, are also discussed in the report.

This report profiles companies which are major players, and are active in this market. The report presents the ‘competitive landscape of the players’ that covers key growth strategies followed by all the major players.

Scope of the report

This research report categorizes the market on the basis of technologies, components, applications, and geography. It also covers the forecast revenue from 2013 to 2018 for the overall market, as well as, for all the segments covered in the report.

On the basis of Technology

The global market is segmented on the basis of technologies such as Global Positioning System (GPS), GIS, remote sensing and Variable Rate Technologies (VRT).

On the basis of Components

The global market is segmented on the basis of components that comprise control & automation systems, sensing & monitoring devices, and farm management systems.

On the basis ofApplications

The global market is segmented on the basis of applications such as yield monitoring, variable rate application, soil monitoring, crop scouting, field mapping, and others.

On the basis of geography

The global market is segmented on the basis of major geographic regions such as Americas, Europe, Asia-Pacific, and ROW; and further segmented on the basis of the major countries in all these regions.

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