Precision farming software market is expected to grow at a moderate rate during the forecast period 2019-2025. Precision farming software is a tool that allows farmers to manage, leverage and track crop yields and revenues. The farmers can utilize such predictive analytical tools to anticipate the expected crop wastes, yield size and revenues. It enables the users to obtain data regarding crop conditions, soil management, and crop rotation guidance. The crucial factors leading to an increase in the growth of the market include the rising adoption of IoT in the agriculture industry and a significant rise in the demand for food. The global demand for food is growing significantly due to significant growth in world population. According to the Food and Agricultural Organization (FAO) of the United Nations (UN), the global population will significantly rise from 6.8 billion in 2009 to 9.5 billion in 2050. Approximately all of such growth is anticipated to occur in developing countries. This would result in the demand for significant food production. For instance, according to the UN, annual cereal production (for food and animal feed) will have to grow from 2.1 billion tons in 2009 to 3 billion tons by 2050.
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Precision farming is being employed to measure inputs and resources and quantify results from both. In addition, it enables farmers to use the highly precise and accurate amount of inputs, whether seeds, fertilizer, water, and chemical controls. Furthermore, integrating imaging and sensors of each crop plant along with real-time data analytics platform enables farmers to reduce waste and improves agricultural output. The technique can identify risk, including soil erosion, salinity and waterlogging. In addition, it allows accurate analysis of certain farm-related variables, such as crop yield, nutrient levels, drainage, and soil moisture. This, in turn, allow farmers to make strategic decisions related to surface water management, investment in farmland and crop rotation to soil repair. This would result in maximizing yield and reduce crop waste. Hence, it plays a vital role to meet the demand for food production and thereby encouraging the users to adopt precision farming software for better agricultural practices.
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Global Precision Farming Software Market Segmentation
Weather Tracking and Forecasting
Others (Irrigation Management and Livestock Management)
Guidance and Steering
Monitors & Display Devices
Rest of Europe
Rest of Asia-Pacific
Rest of the World
AG Leader Technology, Inc.
AgDNA Pty Ltd.
CNH Industrial N.V.
Deere & Co.
E.I. du Pont de Nemours and Co.
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