India precision agriculture market was valued at over $ 57 million in 2019 and is anticipated to grow at CAGR of over 10% to reach $ 99 million on account of increasing awareness related to the applications of precision agriculture and surging need to ensure maximum yield from limited sized farms. Additionally, application of advanced analytics, increasing adoption of Internet of Things (IoT) in agriculture sector coupled with an increase in supportive government initiatives for the adoption of modern agriculture technologies is further driving the market for India precision agriculture market. Moreover, increasing demand for obtaining data related to the condition of crops, local weather predictions and soil is further anticipated to boost demand for precision agriculture during forecast period. However, high cost and lack of awareness about technologies and advantages are acting as major challenges for precision agriculture market in India.
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. Among these, 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 yield and protection. Additionally, remote sensing segment is segmented into hand-held and software-based sensing. Out of these, the handheld remote sending dominated the market with highest market share in 2019 and software-based sensing is anticipated to register faster CAGR through 2025. Among components, hardware segment is expected to acquire the largest share during forecast period as it helps 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. Among these, yield monitoring segment grabbed the highest market share in 2019 and field mapping segment is expected to witness extensive adoption through 2025. Based on regions, India precision agriculture market is segmented into South, North, East and West. Out of these, south region accounted for the highest share of more than one-third of the market in 2019 on account of high penetration of internet and larger smartphone user base in the region. South Indian states, such as Andhra Pradesh, Telangana, and Tamil Nadu, are increasingly adopting various precision agricultural methods to boost crop yields.
John Deere India Private Limited, Trimble Inc., SatSure Ltd., Fasal, Aibono, Cropin, Intello Labs, Mahindra & Mahindra, Jain Irrigation System Limited, Fasal Agro Business Pvt. Ltd, and Exabit System Private Limited are few of the leading players operating in India precision agriculture market.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
• To analyze and forecast the market size of India precision agriculture market.
• To classify and forecast India precision agriculture market based on technology, component, application and regional distribution.
• To identify drivers and challenges for India precision agriculture market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India precision agriculture market.
• To conduct pricing analysis for India precision agriculture market.
• To identify and analyze the profile of leading players operating in India precision agriculture market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service offerings, vendors and presence of all major service providers across the country.
TechSci Research calculated the market size of India precision agriculture market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
• Electronic hardware equipment manufacturers
• Precision agriculture service providers, vendors and other stakeholders
• Agricultural equipment manufacturers
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to precision agriculture
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, India precision agriculture market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Component:
• Market, By Technology:
o Guidance Systems
Global Positioning Systems
Global Navigation Satellite Systems
Global Information Systems
o Remote Sensing
o Variable Rate Technologies
• Market, By Application:
o Yield Monitoring
o Field Mapping
o Crop Scouting
o Weather Tracking & Forecasting
• Market, By Region:
Company Profiles: Detailed analysis of the major companies present in India precision agriculture market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).