Research and Markets (http://www.researchandmarkets.com/research/ld3jdx/global_precision) has announced the addition of the "Global Precision Agriculture Market - By Technology, Hardware and Software components, Applications, Regions - Market Size, Demand Forecasts, Industry Trends and Updates (2014- 2020)" report to their offering.

The global precision farming market was 2.41 billion USD in 2014 and is estimated to reach 5.04 billion USD by 2020 growing at a rate of 13.08% compounded annually.

Farm Management systems have the highest market share in 2014 and is expected to drive the market during the forecasted period

Precision farming is generally described as information and technology based farm management system to identify, manage variability within fields for optimum profitability, analyze, protection of land resources and sustainability. Precision Farming is an area of farming techniques associated with management of variability of soil, water, nutrients, crop and environmental factors.

The ultimate goal of using precision farming techniques is to expand the yield level with specific use of resources.

Precision farming is witnessed to be in the advanced stage in the United States market. As such, this market is expected to see improvement in the current systems, along with the adoption of variable rate applicators, thus driving the market growth. Apart from United States, other countries like Argentina, countries in Eastern Europe, Brazil and China are fuelling a strong growth as they are in advance stages in the adoption life cycle; also, due to the large consolidated farming operations in those regions.

Encouraging government legislations and policies for the adoption of precision agriculture techniques, the growing demand for food, energy, crop health and cost savings, and the growing agro industry are acting as driving factors for this industry.

Factors like high initial investments, and lack of awareness and their impact analysis are hindering the growth of the market

New developments in the agro industry will also cater the demand for precision farming products. One of the great applications of precision farming products is because of its high adoption rate, multiple applications and the variable rate technology and thus, is expected to drive the industry growth for the forecasted period.

Key Topics Covered:

1. Research Methodology

2. Executive Summary

3. Market Overview

4. Market Dynamics

5. Global Precision Agriculture Market Segmentation, Forecasts and Trends - by Revenue

6. Company Profiling

7. Industry Structure

8. Global Precision Agriculture Market - Road Ahead

Companies Mentioned

- AGCO Corporation

- Ag Leader Technology

- Agjunction Inc.

- Deere & Company.

- Dickey-John Corporation

- Precision Planting Inc.

- Raven Industries Inc.

- Teejet Technologies

- Topcon Precision Agriculture

- Trimble Navigation Limited

For more information visit http://www.researchandmarkets.com/research/ld3jdx/global_precision