Increasing demand for precision agriculture due to its
benefits like timely and accurate insights related to the farming, which helps
to increase productivity, to drive India precision agriculture market through
2024
According to TechSci Research
report, “India Precision Agriculture Market By Technology, By
Component, By Application, By Region, By Company, Competition, Forecast &
Opportunities, 2024”, India precision agriculture market
is anticipated to witness significant growth during forecast period owing to
growing concerns for food security and increasing demand for maximizing yields.
In 2018, contribution of agriculture sector to India’s GDP was 18.39%, higher
than the world’s average of 6.4%. 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 through 2024.
Browse market data Tables and Figures spread through 70
Pages and an in-depth TOC on "India Precision Agriculture Market"
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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. Guidance systems segment is expected to
witness rapid adoption 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 crop. Among components, hardware is expected to acquire the large share
during forecast period as hardware components such as sensors, cameras, etc.,
help to collect crucial information pertaining to the soil. Precision
agriculture market finds application in yield monitoring, crop scouting, field
mapping, weather forecasting & tracking, among others. Yield monitoring
segment is expected to witness extensive adoption through 2024 as it provides
farmer with information related to soil properties and fertilizers, influencing
the overall production.
Deere & Company, Trimble Inc., SatSure
Ltd., Fasal, Aibono, AgCode, Cropin, Intello Labs, Tech Mahindra Limited, among
others are the leading players operating in India precision agriculture market.
Companies operating in the market are using organic strategies such as product
launches, mergers and collaborations to boost their share. Moreover, several start-ups consider precision
agriculture as lucrative opportunity and are entering the market.
“Precision agriculture market
in India is expected to grow at brisk rate 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, By Company, Competition, Forecast & Opportunities, 2024” 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.
Contact
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