Advancing methods of agriculture are driving the growth in Global Precision Planting Market in the forecast period, 2022-2027. According to TechSci Research report, “Global Precision Planting Market By Offering (Hardware {Automation & Control Systems, Sensing & Monitoring Devices, Sensors, Cameras}, Software {SAAS v/s PAAS}, Services {Professional v/s Managed}), By System Type (High-Speed Precision Planting System, Precision Air Seeders, Drones), By Farm Size (Above 400 hectares v/s Below 400 hectares), By Application (Row Crops, Forestry, Cereals, Oilseeds & Pulses, Others), By Region, Competition Forecast & Opportunities, 2027”, the global precision planting market would potentially project an impressive growth in the forecast period, 2022-2027, with an impressive CAGR on the account of rapidly emerging technologies and techniques in the agricultural sector.
The Important Factors of the Global Precision Planting Market
Rising demand for higher yields of crops and efficient methods of agriculture is driving the growth of the global precision planting market in the upcoming five years. Moreover, the rapidly increasing population of the world is also driving the growth of the market. The increasing population threatens the chances of growing cases of world hunger. Government initiatives for the development of the agriculture sector and support for the propositions of higher-yielding crops are further substantiating the growth of the global precision planting market in the next five years.
Modern methods of using smart technologically advanced products for harvesting operations are termed precision planting. These revolutionary methods aid the agricultural industry with higher yields and efficient methods for crop production. The process uses retrofit equipment to maximize production and thus benefit the farmers implementing these procedures for their farms. Technologically advanced tools and equipment are used which can be defined as precision planting devices that is a pieces of self-deployable innovative equipment. The equipment is equipped with several sensors for monitoring macro-climatic factors like wind speed, rainfall across the field, etc. By monitoring these factors farmers can manipulate their farming practices and thus obtain maximum yields.
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The global precision planting market segmentation is based on offering, system type, farm size, application, competitional landscape, and regional distribution. Based on the offering, the market is segmented further into hardware, software, and services. The hardware sub-segment is anticipated to register the largest revenue shares in the market and is expected to dominate the market segment on account of the increasing adoption of automation and control devices like monitoring devices, cameras, drones, sensors, etc. These devices aid in the analysis of accurate seed placement, uniform distribution of seeds, etc. Increasing adaptations of advanced precision planting techniques with advanced equipment and in-trend features is expected to further strengthen the growth of the global precision planting market in the next five years. The hardware sub-segment is further fragmented into automation & control systems, sensing & monitoring devices, sensors, and cameras. There is majorly two software used for precision farming, SAAS (Software As Service) and PAAS (Platform As Service).
Based on system type, the market is further bifurcated into high-speed precision planting systems, precision air seeders, and drones. High-speed precision planting system is anticipated to dominate the market segment in the upcoming five years and holds the largest revenue shares of the market on the account of the use of advanced technology in the agriculture industry like precision planters with GPS-based auto-guidance technology aid farmers in reducing the chances of overlapping seeds during the process thus effectively reducing the cost. Moreover, the high return on investment along with the growing awareness regarding the benefits of using these planting systems among farmers are also actively supporting the growth of the global precision plantings market in the next five years.
The Major companies dealing in Global Precision Planting Market
- Deere & Company
- Trimble, Inc
- AGCO Corporation
- CNH Industrial N.V.
- Topcon Positioning Systems, Inc.
- AG Leader Technology, Inc.
- Kinze Manufacturing, Inc.
- Buhler Industries, Inc.
- Seed Hawk Inc.
- Seed Master Manufacturing Inc
- Morris Industries Ltd.
- Stara S/A
- Kasco Manufacturing Co., Inc.
- Davimac Group,
- The Climate Corporation, among others. Market players are actively involved in research and technological development in product development. The advanced technology has made it possible for the industry to provide excellent services through precision planting. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on research and development to provide options that satisfy consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“North America is a promising region for the future growth of the market and is anticipated to expand on the backbone of surging levels of investment in research and device development processes. The market players are actively involved with advanced research and technological advancements for future market establishment. New market players may work in collaboration with the existing market giants in the region. Asia Pacific is also anticipated to register significant growth due to increased involvement of the government in the economies like India, China, etc.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm. “Global Precision Planting Market By Offering (Hardware {Automation & Control Systems, Sensing & Monitoring Devices, Sensors, Cameras}, Software {SAAS v/s PAAS}, Services {Professional v/s Managed}), By System Type (High-Speed Precision Planting System, Precision Air Seeders, Drones), By Farm Size (Above 400 hectares v/s Below 400 hectares), By Application (Row Crops, Forestry, Cereals, Oilseeds & Pulses, Others), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of global precision planting and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global precision planting market.
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