The global market for precision agriculture solutions is forecast to grow from €2.2 billion ($2.6 billion) in 2016 at a compound annual growth rate (CAGR) of 13.6 percent to reach about €4.2 billion ($5 billion) in 2021, according to a research report from the market analyst firm Berg Insight.
A set of technologies are applied in precision farming practices that are aimed at managing variations in the field to maximize yield, raise productivity and reduce consumption of agricultural inputs. While solutions such as auto-guidance and machine monitoring and control via onboard displays are mainstream technologies in the agricultural industry, telematics and variable rate technology (VRT) are still in the early stages of adoption.
Interoperability between hardware and software solutions remains a challenge, although standardization initiatives led by organizations are making progress.
Source: http://gpsworld.com/precision-agriculture-market-to-reach-5b-in-2021/
