As farm equipment and precision-only dealers navigate through the current economic downturn, a new outlook report from Research And Markets projects the next 5 years for the precision industry, including analysis of some of the top vendors within the industry.
Commenting on the report, an analyst from the research team said: “The environmental effects of farming can be reduced significantly by using precision farming methodologies, which help reduce the negative impact of agricultural pollutants, such as fertilizers and pesticides, on biodiversity and water quality through prescription farming."
According to the report, along with the growth in the global population, the demand for food is rising. The US is a significant producer and exporter of certain agricultural crops, such as corn and soybeans, and thus plays an important part in the global food supply chain. However, the area of arable land in the US has been stagnant, limiting food production potential.
Further, the report states that the high initial costs of precision technologies are, however, deterring their adoption among farmers.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
To read the full summary or to purchase the entire report visit www.researchandmarkets.com.