Another driving factor of the market is the growing use of cloud-based technology, rising use of smartphones, and the increasing application of technology in agriculture with the aim of minimizing the human efforts and losses. Additionally, the need to maximize food production by the optimum use of resources is spurring market growth globally.
Weather tracking applications in the precision agriculture market is projected to grow at a significant CAGR during the forecast period. As the agricultural sector is vulnerable to disruptive weather events, the demand for actionable & timely information increases. The real-time data regarding weather conditions help farmers to increase their yield and reduce costs while minimizing crop damage risks. The software segment is anticipated to witness a high growth rate of 12.4% over the forecast period. The software segment includes a detailed analysis of web-based and cloud-based precision agriculture.
With a major focus on the growth trajectories of each segment of the Precision Agriculture market, the report inspects the operating patterns of each market contender, for instance, partnerships & collaborations, mergers & acquisitions, and new product launches, in a detailed manner.
Geographical Terrain of the Global Precision Agriculture Market:
• North America (U.S., Canada, and Mexico)
• Europe (Germany, France, the U.K, Russia, and Italy)
• Asia Pacific (China, Japan, Korea, India, and Southeast Asia)
• Latin America (Brazil, Argentina, Colombia, etc.)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, growing at a CAGR of 12.8%. The presence of countries with the largest population, rising demands for food products, and the need to enhance farm output drive the demand for precision agriculture techniques in the region.
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