Precision Agriculture Market Size Worth USD 16.06 Billion, Market Growth - CAGR of 12.7% | Emergen Research

May 09, 2022

The latest research on the Precision Agriculture market applies both qualitative and quantitative data analysis to present an overview of the future adjacencies around the Precision Agriculture industry for the forecast period, 2020-2027. The all-encompassing study pertaining to the market share, growth and size equip stakeholders, business owners, and field marketing personnel to obtain a unique knowledge about the current business environment to offer a competitive advantage over the giants. Deep dive into past, present, and future industry trends include in the market intelligence report reveals a lot about the strategic capabilities business owners can leverage to gain a strong foothold in the business world. 

The global Precision Agriculture Market is expected to reach USD 16.06 Billion by 2027, according to a new report by Emergen Research. Precision Agriculture is swiftly gaining popularity among farmers due to the increasing need for optimum production with the given resources. Further, the changing weather patterns due to increasing global warming have necessitated the adoption of advanced technologies to enhance productivity and crop yield.

Another factor contributing to the growth of the market is the extensive use of drones and aircraft for precision agriculture operations. Drones have emerged as an excellent alternative to the traditional surveying & data gathering methods in agricultural operations. By using drones for crop monitoring, farm owners can significantly lower their production costs and reduce required man-hours and work-load.

Another driving factor of the market is the growing use of cloud-based technology, rising use of smartphones, and the increasing application of technology in agriculture with the aim of minimizing the human efforts and losses. Additionally, the need to maximize food production by the optimum use of resources is spurring market growth globally.

Key Highlights from the Report
The software segment is anticipated to witness a high growth rate of 12.4% over the forecast period. The software segment includes a detailed analysis of web-based and cloud-based precision agriculture.

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