India Precision Agriculture Market to Grow at 10% until 2025
Increasing demand for precision agriculture due to its
benefits like timely and accurate insights related to the farming to drive
India precision agriculture market.
According to
TechSci Research report “India Precision Agriculture Market By Technology, By
Component, By Application, By Region, Competition, Forecast &
Opportunities, 2025”, India precision
agriculture market is projected to grow at over 10% to reach $ 99 million by
2025 owing to growing concerns for food security and increasing demand for
maximizing yields. Precision agriculture helps to optimize use of resources and
effectively meet the increasing demand for food, which is anticipated to drive India
precision agriculture market until 2025. Moreover, application of advanced
analytics, increasing adoption of technologies such as Internet of Things, data
analytics, etc., in agriculture sector coupled with increase in government
initiatives for adoption of modern agriculture technologies is driving
precision agriculture in India.
Browse 21 market data Figures spread
through 70 Pages and an
in-depth TOC on "India Precision Agriculture Market"
India precision
agriculture market can be segmented based on technology, component, application
and region. In terms of technology, the market can be segmented into guidance
systems, remote sensing and variable rate technologies. Among these, guidance systems
segment is expected to witness rapid growth during forecast period as
technologies such as Global Navigation Satellite Systems (GNSS) and Global
Positioning Systems (GPS) help to obtain crucial location based data, which can
be used to take decisions related to farming. Additionally, remote sensing
segment is further segmented into hand-held and software-based sensing. Amongst
these, the hand-held remote sending dominated the market in 2019, while the software-based
sensing segment is expected to exhibit faster growth until 2025. Based on
components, hardware segment is expected to acquire the largest market share
during forecast years as it helps to collect crucial information pertaining to
the soil. Based on application, India precision agriculture market is segmented
into yield monitoring, crop scouting, field mapping, weather forecasting &
tracking, among others. Among these, yield monitoring segment accounted for the
largest market share in 2019, while field mapping segment is expected to
witness rapid growth through 2025 as it provides farmers with essential information
needed to obtain maximum yield.
John
Deere India Private Limited, Trimble Inc.,
SatSure Ltd., Fasal, Aibono, Cropin, Intello Labs, Mahindra & Mahindra, Jain
Irrigation System Limited, Fasal Agro Business Pvt. Ltd, Exabit System Private
limited, and among others are the
leading players operating in India precision agriculture market. The companies operating
in the market are using strategies such as product launches, mergers and
collaborations to boost their share. Moreover, several start-ups consider
precision agriculture as a lucrative opportunity and are entering the market
with new ideas and innovations.
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“Precision
agriculture market in India is expected to grow at a brisk pace until 2025
owing to subsidies offered by state governments for the purchase of farm equipment.
Moreover, increasing adoption of smartphones and rising focus of government towards
better agriculture practices is further anticipated to drive India precision
agriculture market during forecast period,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“India Precision Agriculture Market By Technology,
By Component, By Application, By Region, Competition, Forecast &
Opportunities, 2025” has evaluated
the future growth potential of India precision agriculture market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in India precision agriculture market.
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