Market Trends of Precision Farming Industry
Soil Monitoring is Expected to Hold Significant Share
- By means of reliable communication, soil sensors are capable of measuring the essential properties of soils and transmitting them to a display unit. In order to create field maps based on the soil's characteristics, soils sensors are usually used in combination with velocity applications or GPS. Soil sensors are essential for monitoring the viability of crop growth at harvest time.
- After analysing the data, sensors provide real time information which changes the application rate accordingly. It is considered that traditional models of using the map approach are more efficient. In the following steps, they enable a problem analysis to be carried out and variable rate applications to be adapted.The various type of sensors being integrated for soil monitoring purposes includes electromagnetic, optical, mechanical, acoustic, and electrochemical, as far as industrial research has reached.
- Moreover, in view of the increasing use of different soil monitoring sensors by forward thinking farmers from around the world, ground surveillance systems are expected to be a major demand throughout the forecast period. The market share of ground monitoring is high because it does not require a lot of expertise. Improvements in intelligent sensor technologies and their integration with the Internet of Things modules have led to a growing demand for integrated agriculture.
- Furthermore, technological advancement in farming may further propel the studied market growth. According to ETNO, the number of IoT active connections in agriculture was expected to increase in the European Union through the years. It was recorded at 46.92 million connections in 2022 and is expected to reach 70.26 million by 2025. Some uses for IoT devices in agriculture would be drone usage for surveillance or distributing seeds.
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Asia-Pacific to Experience Significant Market Growth
- In particular due to government initiatives in developing countries encouraging the use of modern precision farming technologies, which is aimed at maximising productivity, this region is expected to experience significant growth over the projected period.
- According to IBEF, from INR 1,931,288.7 crore USD 263 billion last month on the back of government initiatives like Pradhan Mantri Kisan Sampada Yojana and plans for a 1 trillion dollar infrastructure, India's processing food market is projected to increase to INR 3,451,352.5 cr USD 470 billion by 2025.
- In many Asian countries, service providers are rapidly moving to improve their application methods and make Asia agriculture the main focus of study market vendors. Smart tractors, UAVs, ground leveling services, pesticide application, satellite imaging, irrigation services, and handheld decision diagnostics along with In this region, without investment in costly infrastructure, decision support is becoming more easily available for small farmers.
- The market growth is being driven by some of the main factors in Asia-Pacific are augmented yield and profitability, which are pushing farmers toward crop monitoring technology in precision farming.
- Australia holds the major share of market in this region. The market is yet to catch up with its growing demand for food crops and the anticipated growth in the variable rate applications (VRA) market. Some of the opportunities in the region are application of drones and unmanned aerial vehicles (UAVs) in precision farming practices and the growing environmental issues.
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