International Ag Insurance Solutions issued the following announcement on Jan. 4.
The “North America Precision Agriculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.
The North America precision agriculture market reached a value of US$ 2.87 Billion in 2018. Looking forward, the market is projected to reach a value of US$ 5.66 Billion by 2024, registering a CAGR of around 12% during 2019-2024.
North America precision agriculture market is currently being driven by several factors.
Being an urbanized region, the farmers in the region are increasingly relying on smartphones and other intelligent mediums to remain updated about the latest development in the agricultural sector. Moreover, through precision agriculture, farmers can easily determine the peak conditions required for plant growth by placing sensors throughout the place. These sensors are connected to digital applications and record rainfall, soil conditions in different areas, thereby helping the farmers to maximize their benefits.
Apart from this, the precision agriculture techniques enable its users to visualize production levels, soil moisture, and sunlight intensity in real-time and remotely accelerate the decision-making process. The data collected from these techniques enable agronomists to properly analyze the production quality and result in better correlation to treatments. These analyses are further used to educate farmers about the processes that are to be used for production, thereby improving the quality of the final product.
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