Global Precision Agriculture Market Overview 2018, Demand by Regions, Share and Forecast to 2023

The global precision agriculture market has witnessed a double-digit growth over the past few years. The technology of precision agriculture is widely being adopted by the farmers due to rising awareness about its advantages and increasing public as well as public-private partnership.

According to the recent report by IMARC Group, entitled “Precision Agriculture Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global precision agriculture market reached a value of around US$ 5 Billion in 2017. Precision agriculture, also known as satellite agriculture, refers to one of the most popular innovations in modern farming. It is the concept of managing accurate variabilities in the farm which helps in producing more output with less agricultural inputs, thereby minimizing the production cost. Precision agriculture relies on specialized equipment, software and IT services so as to provide a real-time data about the condition of soil, ambient air and crops, as well as other important information like local weather predictions and labour costs. This data is used by the farmers to know about the precise planting times, crop rotation and harvesting time.

Nowadays, farmers are increasingly depending on smartphones, internet, WiFi, Zigbe and low-power wide-area (LPWA) for their day-to-day farming activities. These technologies assist in efficiently planning and executing several operations, such as planting, purchasing, harvesting and inventory control, with zero negligence and errors.

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