According to the research report titled ‘Global Precision Agriculture Market Analysis By Offering, Technology, Application, By Region, By Country (2020 Edition): Market Insights and Outlook Post Covid-19 Pandemic (2020-2025)’, available with Market Study Report, global precision agriculture market attained a valuation of USD 9.56 billion in 2019 and is touted to grow considerably over 2020-2025.
 

As per the report findings, increasing industrialization of the agriculture sector, inflating population, and subsequent rise in concerns regarding food security are promoting global precision agriculture market growth.
 

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For those unaware, precision agriculture is a management concept that utilizes various advanced technologies such as drone, sensors, satellites, precision planting, and precision irrigation to augment the operational efficiency of farms. Higher yields, lower input costs, minimal pesticide use, and reduced environmental impact are the key benefits of the process.
 

Expanding on the recent developments, the outbreak of Covid-19 pandemic left a major impact on the market. Majority of the projects in the U.S., Germany, and China were delayed as companies faced short-term challenges due to restrictions involving the supply chain and site access.
 

In terms of application, worldwide precision agriculture market is fragmented into field mapping, yield monitoring, crop scouting, irrigation management, tracking & forecasting, and others. Among these, yield monitoring is the most favored application in precision farming as it serves a vital role in examining field variability to assist farmers in maximizing yields.
 

Considering the geographical scope, Americas market led the industry growth in the recent and will continue to showcase strong growth trends in the forthcoming years. This can be largely credited to growing adoption of advanced farming systems and equipment such as sensors, steering and guidance systems, farm management software, and display devices by framers in the region. Moreover, increasing necessity to improve crop productivity in view of declining arable land as well as other natural resources are adding to the regional market growth.
 

Key players influencing global precision agriculture industry trends are Prospera Technologies Ltd., Descartes Labs Inc., Topcon Positioning Systems Inc., Ageagle Aerial Systems Inc., Ag Leader Technology, AgJunction Inc., Raven Industries Inc., Trimble Inc., AGCO Corp., and John Deere.