Growing agro industry, energy & cost saving, government assistance and augmented yield & profitability are some of the driving forces for this market. Dearth of technical acumen and high initial investments are some restraining factors for this market. penetration of broadband and mobile technologies such as web based precision farming and unmanned aerial vehicles application are some opportunities in this market.
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In past few years, there is huge development in the electrical equipment section. Many new electrical equipment are developed every day. These equipment’s are domain specific, they are able to perform the specific function for which they are manufactured. In farming industry the tractors are used to perform such different functions. Thus need for inter-operability between the electronic devices mounted in tractors increased with standardization.
Precision Farming Technology Market is segmented on the basis of technology used, hardware & software component, applications and geography. On the basis of technology the market is segmented into global positioning system (GPS), remote sensing and variable rate technology (VRT). On the basis of hardware and software components the market is segmented into automation & control systems, sensing & monitoring devices and farm management system. On the basis of application the market is segmented into yield monitoring, variable rate application, field mapping, soil monitoring and crop scouting among others. And on the basis of geography the market is segmented into North – America, Europe, APAC and rest of the world (RoW).
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Ag Business & Crop Inc., Ag Leader Technology, Ag-Nav Inc., Agco Corporation, Agjunction Inc., Agri Con Gmbh, American Sensor Technologies Inc., Autofarm, Automata Inc., Deere & Company, Dickey-John Corporation, Echelon Ag Inc., Jain Irrigation Systems Ltd., Omnistar, Precision Planting Inc., Raven Industries Inc., Soyl Precision Farming, Teejet Technologies, The Toro Company, Topcon Precision Agriculture andTrimble Navigation Limited among others are some of the key market players in Precision Farming Technology Market.
