Global Market Size of Precision Farming Market – 10 Year Market Forecast

Semiconductor

Precision Farming Market Size Forecast 2022-2029

Between 2022 and 2029, the Precision Farming market is expected to grow at a CAGR of 11%, from USD 12.92 billion in 2022 to USD 26.4billion in 2029. Increased farm mechanization in developing countries, rising labor costs due to a shortage of skilled labor, increasing strain on the global food supply due to rising population, significant cost savings associated with smart farming techniques, and government initiatives to adopt modern agricultural techniques are some of the major factors driving the growth of the Precision Farming market. Precision Farming is becoming increasingly popular among farmers as the demand for optimal crop production with limited resources grows.

Frequently Asked Questions(FAQ)

• What is Global Market Database?

• Global market database is a cloud based business intelligence tool that can be used by decision makers to study relevant markets.
• What is Precision Farming?

• It is an approach where inputs are utilised in precise amounts to get increased average yields.
• How Precision Farming is done?

• It is done by adopting analytical software and use of technical equipment.
• What are some examples of precision agriculture?

• It include drones, Global Positioning Systems (GPS) and irrigation technologies.
• What is the CAGR of Precision Farming market?

• 11% is the CAGR of Precision Farming market.

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