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Precision Farming Market (Global Positioning System, Remote Sensing & Variable Rate Technology) worth $3,721.27 Million by 2018 – New Report by MarketsandMarkets

(September 2013) According to a new market research report “Precision Farming Market by Technology (GPS/GNSS, GIS, Remote Sensing & VRT), Components (Automation & Control, Sensors, FMS), Applications (Yield Monitoring, VRA, Mapping, Soil Monitoring, Scouting) – Global Forecast & Analysis (2013 – 2018)” published by MarketsandMarkets, the overall Global precision farming market will be worth $3,721.27 million by 2018, at an estimated CAGR of 13.36%

LogoBrowse 94 market data tables and 64 figures spread through 327 pages and in-depth TOC on “Precision Farming Market – Global Forecast & Analysis (2013 – 2018)”.

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The ever increasing global food demands and environmental issues have plagued the countries across the globe; there are growing concerns to tackle both the issues, simultaneously. In this challenging situation, precision farming presents a way ahead by offering increasing yields, and at the same time, reducing the wastage and environmental degradation. Precision farming is a technology based in- field management system that optimizes the overall farming practices and input resources. The major drivers for the global Precision Farming Market are profitability & enhancement in the yields, government assistance, energy & cost saving, and the growing agro industry. The restraints for the growth of this market are high initial investments, and lack of technical know-how. The UAV (Unmanned Aerial Vehicle) and penetration by broadband and mobile technologies are the key opportunities in the Precision Farming Market.

Precision Farming Market report categorizes the market on the basis of technologies, components, applications, and geography. It also covers the forecast revenue from 2013 to 2018 for the overall market, as well as, for all the segments covered in the report.