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BANGALORE, INDIA, May 04, 2016 /24-7PressRelease/ -- With its recently published study on "Advanced Farming", Infoholic predicts advanced farming to change the way farming is practised and result in more production. The use of advanced farming will result in better yield of crops and will reduce the farmer's load. As per the study, technology has raised expectations among end-users to enhance production and improve the conditions of field. This expectation is driving the market for new applications in agriculture and animal harvesting. In addition, one of the major drivers for advanced farming is the dependency of farmers on the GPS technology. GPS technology is mostly used in agriculture field to monitor soil condition, tracking of the livestock, tractor monitoring, and VRT. Americas is the leading region in the usage of advanced farming followed by Europe and Asia Pacific. Witnessing a wide adoption of advanced farming across various users, the market is expected to grow at a CAGR of 13.4% during the forecast period 2016-2022.
If we analyse the market by technologies, the major share of the revenue comes from high precision positioning systems (28.9%) followed by VRT (20.4%) in 2016. The growth in the technologies has led to the overall growth of the market with VRT market predicted to reach $2.31 billion by 2022 from $1.08 billion in 2016, at a CAGR of 13.5%.
If we analyse the market by applications, the major share of the revenue comes from livestock farming (31.2%) followed by horticulture (21.8%) in 2016. The growth in the applications has led to the overall growth of market with the livestock farming predicted to reach $3.32 billion by 2022, at a CAGR of 13.4%.
"Advanced Farming is turning to be a key revenue pocket for farmers, policy makers, and agri-business makers. However, facing challenges and dynamic issues for building sustainable farming system, there is no unique system/technology and it is subjective to the farmers adopting appropriate technology within suitable farming policy framework." - Tariq A. Shaik, Research Manager
"Private investment in the field of agriculture will drive the market for the next five to six years. Moreover, developing regions will be having high growth due to increasing demand and the presence of large agriculture fields." - Preeti Wadhwani, Senior Research Analyst
"Advanced farming market is expected to witness a healthy growth in the emerging markets of Asia Pacific and Africa in the near future. Hence, there is an opportunity for cloud and analytics in farming." - Komal Sharma, Research Analyst
The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report not only highlights users' conundrum (challenges and barriers to adopt advanced farming) but also brings in their perspective on the global farming market. The market has been analyzed by taking into account the key regions - American Continent, Europe, Asia Pacific, and MEA
- The report talks about the competitiveness of the top five players present in the market and the list of all the providers present in the market
- The report mentions the top technologies and applications and also forecast its presence in the various geographical regions
- The report tells about the ongoing projects both by private and public departments for the use of advanced farming
- Analyst has given forecast of the deployment model referring to the major applications and technologies being used
- Analyst has rated top five vendors vis-a-vis end user inputs on key factors. Also, the investment done by private and public sectors is included in the report
- Competitive benchmarking analysis to optimize short term and long term strategy of the organizations
- Stakeholders' insights and key trends (current and future) of the market
About Infoholic Research
Infoholic Research is a global ICT market research and consulting organization providing strategic and high-level market intelligence in emerging and niche technologies. Founded in 2014, we are headquartered in India with an office in U.S and with consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies and business models. We aim at delivering high quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies.
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