Industry Market Value for Precision farming Set to Become a $6.34 Billion by 2022

BLOOMINGTON, Minn. - Nov. 28, 2014 - PRLog -- The latest market research report by BIS Research provides a detailed analysis of the development and prospects of the Precision Agriculture industry. The 167 page report contains 17 tables and 68 figures is a comprehensive study of the Precision Agriculture industry. It provides a thorough detailing of the market dynamics and statistics, its key players, applications and competition has been included in the market intelligence report.

The market value of the industry is estimated to be worth $6.43 billion by 2022, developing at a compound annual growth rate (CAGR) of 13.09%. The revenue generation statistics reviewed by our analysts’ show that Americas has had the largest share in 2014. The trends for many other countries from Europe, APAC and Middle East have been mentioned. The report also contains assessment and forecasts of the market trends in these regions. The market is expected to grow most rapidly in the developing regions of Asia Pacific at a CAGR of 18.29%.

Like any other innovative technology, Precision Agriculture practices too face certain challenges. The lack of specialized education among farmers and authority, feasibility of the usage of drones, investment constraints among others have been discussed in detail in the report. Simultaneously the report also elucidates the numerous opportunities in the Precision Agriculture industry.

A variety of new technologies such as yield and soil monitoring, crop scouting, farm mapping, modern irrigation practices and variable rate control systems have emerged as the Precision Farming industry has expanded. The report describes each of these and discusses their impact on the performance of the industry and the farmer. In accordance with the report, yield monitoring is the application vertical that accounts for the highest share of revenue generation as of 2014.

A competitive landscape study for the Precision Agriculture sector carried out by BIS shows interesting results of business expansion models undertaken by various organizations. Many collaborations and mergers among different companies have also been discussed. Similarly a competitive benchmarking study was conducted by the analysts to gauge the practices and performance measures undertaken by competitors in this sector.

A separate segment of the report contains a thorough record of all the key players in the market. The key developments, financials and a SWOT analysis of each company are also included. Profiling of companies such as Topcon Corporation, AgLeader, AGCO Crop, Trimble Navigation Limited, Yara International, Lindsay Corp., Novariant Inc., Trimble Navigation Limited, AgNav Inc., John Deere & Company Valmont Industries and Monsanto has been mentioned in the report.