Boston, MA -- (SBWIRE) -- 11/25/2014 -- Precision Farming Market by Technology (GPS/GNSS, GIS, Remote Sensing & VRT), Components (Automation & Control, Sensors, FMS), Application (Yield Monitoring, VRA, Mapping, Soil Monitoring, Scouting) and Geography - Global Forecasts to 2020

The precision farming market is expected to grow at a rapid pace. For the past few years the amount of electronic equipment and automation in farming has gradually increased and is helping the growers to increase their profitability and yield. Due to the emergence of Information Technology (IT) in agriculture the precision farming market is gaining momentum. The continuous growth in the global population is increasing the burden on usage of resources such as land, fertilizers, and water. These resources are scarce and hence the need to adopt technology based agriculture is increasing to feed the growing population with minimum usage of resources. The increasing government intervention and assistance to promote modern agricultural and site-specific farming techniques is further driving the demand for precision farming. In addition to that, factors such as crop health, high productivity, energy and cost saving, and the growing agro industry have created enough scope for precision farming products and their applications.

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The burgeoning population has forced growers to maximize their yield; also the declining nutrition in crops has gained the focus of growers, agro-based companies, and government bodies to promote the modern agriculture technologies to maximize the yield. The report on the precision farming market reviews latest market trends such as standardization of precision agriculture data and introduction of field robotics with a perceptive attempt to disclose the near future growth prospects. The precision farming market opens opportunities for advanced technologies such as field robotics and Unmanned Aerial Vehicles (UAVs). An in-depth geographic analysis provides strategic business intelligence for agricultural sector investments. The study reveals profitable investment strategies for agro-based companies, business executives, product marketing managers, new business investors and many more in preferred locations.

The competitive landscape section of the report primarily focuses on key industry players in the precision farming industry, their latest development, and respective share in the precision farming market. In addition to that, the report also entails emerging market trends, advancement in technological space, market segmentation, key growth areas and market size, region wise demand factors, and key competitors.

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