Precision farming is a technology-based field management system. It is aimed to optimize the overall farming practices and input of resources. The rising population creates a huge demand for food. Influence of global warming on agricultural practices and sustainability of natural resources is high. Productivity of agriculture is always related to the climate changes. This increases the burden on food productivity and natural resources such as soil. These factors undermine the importance of optimizing farming practices, ensuring productivity and efficient use of resources.
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Precision farming uses technological advancements in various fields such as data management, geo-location tracking and so on, to enhance productivity. Precision farming has a remarkable impact on traditional approaches to farming. These practices guide farmers in several crucial activities such choosing right time to plant, right amount of fertilizer or pesticide to maximize yield. It helps Livestock producers to have timely production related information such as feeding/nutritional issues and feeding related costs. These are huge parts of the variable costs in a livestock farm. Electronically controlled livestock production systems help in gathering data in a timely manner. They help to access the efficiency of resources and thus, optimize their input.
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North America holds the majority of market share in the Global Precision Farming and Tools market. The rapid adoption of precision farming technology in this region has resulted in this. Precision Farming market has been observed to be in matured state in this region. South America and Asia-Pacific are the fastest growing regions in this market; particularly, the regions of Eastern Europe, China and Brazil are the fastest growing markets. Large consolidated farming operations and upgrades in technology are the major factors for the rapid growth of Precision Farming market in this region. Support from the government, high adoption rates and multi-faceted applications are some of the factors that are driving the demand for Global Precision Farming and Tools Market over the world.
Market size and forecast is provided for each of these regions. A detailed qualitative analysis of the factors responsible for driving and restraining growth of the Global Precision Farming and Tools Market and future opportunities are provided in the report. This report on the Global Precision Farming and Tools Market identifies many such insights and M&A opportunities, besides providing a detailed analysis of the Market.
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