Latin America $541.8 Million Advanced Farming Tech
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Dublin, March 07, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Latin America Advanced Farming Technique Market 2016-2022" report to their offering. The Latin America advanced farming market is expected to reach $541.8 million by 2022.
The Latin America Advanced Farming Market is estimated to witness a CAGR of 15.8% during the forecast period 2016-2022.
The market is growing due to the growth of population and uncultivated land in the Latin America region. The increase in the population will force the farmers to come up with a good yield of crops and thus, using advanced farming helps in improving the productivity with a different set of technologies.
Advanced farming is termed as an IT based farming management to analyze, manage, and identify the variability in the fields for projection, optimum profitability, and sustainability of the land resource. Advanced farming provides benefits for both environment and economic sectors such as reducing the use of fertilizers, water, pesticides, and herbicides by using the farm equipment. Some of the major drivers are monitoring the plant and soil, saving time and cost in the production of crops, providing better information for management decisions, and reducing the use of excess run-off water. Some of the players included in the report are Raven Industries Inc., Trimble Navigation Ltd., AGCO Corp., Deere & Company, and AgJunction Inc. The advanced farming market is segmented by technologies, applications, services, deployment model, and countries.
The High Precision Positioning Systems (HPPS) is expected to reach $75.3 million by 2022, growing at a CAGR of 15.8% during the forecast period 2016-2022. In farming, HPPS is used for collecting, storing, processing, and offering data to manage the farm. In addition, Global Positioning Systems (GPS) provides accurate information and allows farmers to work in low visibility of field conditions such as fog, dust, rain, and darkness.
The countries included in the report are Brazil, Mexico, Argentina, Ecuador, Peru, Uruguay, Bolivia, Chile, and Colombia. Brazil holds the largest share of the market whereas other countries are projected to have great opportunities in the market in the coming years. The study covers and analyzes the Latin America Advanced Farming market. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, government initiatives, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.
Market Characteristics
Market Trends
- Increase in Livestock Farming
- Robotics Farming
- M2M and IoT in Agriculture
Market Dynamics
- Demand for farm management software
- Convergence of modern technologies
- Growing food requirement
- Increasing use of precision agriculture
Restraints
- Lack of internet connectivity for M2M farming
- Changing climate conditions and increasing population
- Improper IT infrastructure for farming
Opportunities
- Drones and robots for managing farms
- Increasing M2M applications
- Increase in the use of connected farms in developing economies
Companies Featured
- 8villages
- AGCO Corp
- AqDNA
- AqJunction
- Aqribotix
- BovControl
- Deere & Company
- FTI Pty Ltd
- IBM
- Microsoft Corp
- Raven Industries
- Smart Fertilizer Management
- Strider
- Trimble Navigation
- Valmount Industries Inc
- Yara
For more information about this report visit http://www.researchandmarkets.com/research/h4...in_america
CONTACT: Research and Markets Laura Wood, Senior Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 Related Topics: Agriculture
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