Precision Planting Market by Region – Global Opportunities & Forecast, 2020-2027

 Precision Planting Market

The Precision Planting Market will experience an exponential boom of 5.1% over the forecast period (2020-2025). The intensified emphasis on enhancing farm effectiveness and raise crop yield guided by the accelerating population has driven the market growth.

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Precision Planting Market Dynamics

The increasing inclination towards acquiring the latest technological equipment for large-scale crop production to fulfill the worldwide massive population challenge drives the growth of the global precision planting market. For example, Mahindra and Mahindra Limited's Farm Equipment Sector (FES), in 2020, introduced advanced modern technology-based precision potato planting machinery named 'PlantingMaster Potato +.' The machine was designed and developed in partnership with Dewulf, a Europe-based leader in potato machinery. Moreover, the augmenting demand for crop production to distribute the worldwide population is witnessed potential growth for the global precision planting market size. For instance, according to the Population UN Organization Report in 2019, the world's population touched approximately 7.7 Billion and is expected to reach 8.6 Billion by 2030. Thus, this acceleration in the population throughout the world will require sophisticated technology to improve crop production, which precision planting methods can do. However, the excessive cost for innovatory equipment required in farming and high skills to manage the digital tools with accurate knowledge and training will restrain the precision planting market share.

Regional Drivers

Based on the regional coverage, North America is predicted to lead the market over the forecast period. This is primarily attributed to the prevalence of major technology players coupled with the fast acceptance of developed technology for agriculture accompanied by Europe and Asia-pacific. On the other hand, as per the precision planting market report, Asia Pacific is projected to expand at a faster CAGR during the forecast period. This is owing to its augmenting demand and favorable strategies and schemes of government to improve the crop production required for the huge population. For example, In India, precision farming 'Fasal' has initiated a plug-and-play IoT and sensors-based system named 'Fasal Kranti.' The device aims to make farming more valuable and sustainable in upgraded data-driven decisions on the farm concerning fertigation, irrigation, disease, and pest management. The Fasal has assembled a world-class solution for core problems for horticulture farmers and has decided to extend to 13 Million hectares of the farm under horticulture with an investment of USD 2.7 Billion under Fasal Kranti in India.

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