Precision Farming Market, also known as ‘Precision Agriculture’, ‘satellite farming’, or ‘site-specific crop management’ is one of the best ways of modern farm management by utilizing information technology to assure optimum productivity and increased health of crops. Nowadays, proper crop production has become more essential than what it was before, now crop production adequate amount of water, quality fertilizers, and high standard seeds to leverage yield of crops, reduce waste and make the whole process totally environment-friendly.
However, this kind of farming includes the use of broad range of technological innovations such as bio-engineering, adoption of sensors & imagery, digitization, automation & robotics, etc. other than this, the flourishing utilization of telematics in agriculture is likely boosted the demand for such precision farming in the upcoming years.
It’s estimated that nearly 50% plus farmers are engaging themselves in utilizing a newly developed form of farming technology which will help them to manage their field in a more efficient and productive way.
The telematics service consists tracking devices which use the Global Navigation Satellite System (GNSS) that helps in showing the exact position of the equipment(s) for management function. The precision farming market is implemented to improve overall farming practices and crop management to the next level.
Benefits of Precision Farming
The purpose of such farming requires to meet the agricultural inputs, improve the entire quality of product or output and diminish potential environmental hazards. The below-mentioned benefits will give an appropriate understanding of what precision farming market actually is:
- Monitor plant physicochemical and the soil limit, by placing electronic sensors such as temperature, radiation, soil moisture sensors, etc.
- Acquire real-time data from the sensing devices which are being placed in the fields that keep on monitoring and provides updated data about the crops as well as field status.
- Provide on-time farm records which are important for proper management decisions and sale successions.
- The modern use of technology helps in maximizing the entire irrigation cost, provides appropriate crop protection and improves crop nutrients.
- One of the fastest and best ways of environmental upshots for reducing the use of pesticides is using the light bar systems. These light bar systems are cheap and offers proves to be more effective than spraying toxic pesticides. This offers both economical as well as environmental benefits.
Challenges in Precision Farming Market
Still, there are many farmers who farm over 7,000 acres of corns and soybeans in the Kenton, Ohio region are facing typical issues with precision farming. They say that the equipment they are using needs to be upgraded to the newest versions, as well as they, need to set up different bases stations whenever they buy new equipment for better farming. Moreover, precision agriculture or farming cannot be used for each and every crop production.
The Precision Farming market is deemed to grow because farmers in developed countries are taking up modern ways of improving overall agriculture productivity by reducing agriculture losses. Furthermore, the use of cloud-based farm management system helps in boosting this market at a more profound level.
According to the Market Watch, the hardware sector is predicted to hold a major share of the precision farming market by 2024 because of the large-scale installation of numerous farming devices such as GNSS receivers, antennas, developing various precision farming mobile applications, and much more. Farm management systems are progressively getting integrated with different sensor-based systems like a satellite-based, aerial view and ground-based sensors to collect various precise farming related information. Soon the sensors segment is expected to rule over the hardware sector with over 19 percent of the hardware sector share by 2023.