Agriculture offers food to the 7 billion global population. The global climate change and increasing pollution creates havoc on the environment and negatively impacts agricultural output. Sensing technology is now increasingly being applied in agriculture to create ‘intelligent farms’.
Trends Market Research analyst opines that advanced farming will bring about a paradigm shift in the way traditional farming has been practiced till date. Advanced farming involves applying technology to improve cultivation. Advanced farming systems will increase production and will also result in better crops. Technology has invaded the agricultural market as well. New technological applications are being used in rearing of animals and in improving crop yield. GPS technology is mostly used in agricultural field to monitor soil condition, tracking of the livestock, tractor monitoring, and VRT.
Trends Market Research analyst estimates that the advanced farming market will witness a CAGR of 13.4% during the forecast period 2016–2022.
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High Precision Positioning Systems comprised 29% of the market, followed by VRT (Variable Rate Technology) at 20% in 2016. Technological growth has contributed to the growth of the overall market. VRT market is predicted to reach $2.31 billion by 2022 from $1.08 billion in 2016, growing at a CAGR of 13.5%. In application terms, major share of the revenue comes from livestock farming at 31.23% followed by Horticulture at 21.77% in 2016. Livestock farming is predicted to reach $3.32 billion by 2022, growing at a CAGR of 13.4%.
The market is segmented by the following geographies- Americas, Europe, Asia-Pacific and MEA. Each region has been sub segmented by leading countries namely the US, Canada, Brazil and Mexico in the Americas, European Union and Big 5 countries in Europe, India, China, Australia and Japan in Asia-Pacific, South Africa and the Gulf Corporation Council (GCC) in MEA.
Segmentation by Technology
The advanced farming market is sub segmented by the following technologies- Variable-rate technology, High Precision Positioning Systems, Automated Steering Systems, Remote Sensing and Integrated Electronic Communication.
Segmentation by Applications
The market is segmented by the following applications- Fleet management, Livestock farming, Forest farming, Aqua farming and Horticulture.
Segmentation by Services
The market is segmented by the following services- Integration services, Maintenance services and Training and consulting.
Segmentation by Deployment Modes
The market is segmented by two deployment models- Cloud and local.
The study gives an opportunity to the industry players to improve their current business approach by providing them strategic intelligence about the competition in the market. Current and predicted business strategies for the leading companies of the market.
The report includes a detailed competitive benchmarking of the leading vendors based on some key metrics such as business units, geographic revenue, recent developments, business focus, business strategy and SWOT analysis.
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The prominent players in the market are Trimble Navigation, AGCO Corp., John Deere & Company, Raven Industries, and Ag Junction Inc.
The report is of significance to the key stakeholders of the advanced farming market such as OEMs, technology providers, platform providers, universities, bloggers, farming institutions and farming associations in the following ways:
- Competitive analysis (i.e. current and future key business strategies of the competitors and their regional growth)
- Drivers, growth opportunities in different regions
The report provides an in-depth analysis of the advanced farming market aiming to bring all farming stakeholders on a common platform. The report provides a detailed analysis of the advanced farming market in terms of technologies, applications, services, and deployment models. The report also covers a detailed regional analysis, i.e. analysis of the leading countries in these regions. The report also gives details of the global investments in the agriculture sector and ongoing and upcoming advanced farming projects.
The report can also be tailored as per the specific information need of the users. The customization is available on countries, technologies, applications and vendor profiles.