The global precision farming market is set for explosive growth, with projections indicating a surge to $26.44 billion by 2031. This remarkable expansion, driven by technological development in the agricultural sector.

NEW YORK, Nov. 27, 2024 /PRNewswire/ — According to a new comprehensive report from The Insight Partners, the global precision farming market is observing significant growth owing to the increasing adoption of smartphones with the ease of internet facilities. Moreover, the increasing reliance on smartphones for advanced development in the agricultural sector is driving the precision farming market.

For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/precision-farming-market

The report runs an in-depth analysis of market trends, key players, and future opportunities. Increasing dependency on low power wide area (LPWA), Wi-Fi services, and wireless sensor technologies for enhancing agricultural output is boosting the market growth.

Market Overview and Growth Trajectory:

Precision Farming Market Growth: According to an exhaustive report by The Insight Partners, the Precision Farming Market is experiencing significant growth, driven by growing demand for agricultural robots. The market, valued at $9.87 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 13.1% during 2023–2031.

For More Information and To Stay Updated on The Latest Developments in The Precision Farming Market, Download The Sample Pages: https://www.theinsightpartners.com/sample/TIPRE00010125/

Precision farming assists in decreasing the overall usage of pesticides, water, fertilizers, and herbicides. Besides this, it helps improve the productivity, profitability, quality, and sustainability of the yields. As it lessens labor inputs and production costs, the demand for precision farming is rising globally, fueling the precision farming market growth.

Technological Innovations: The growing adoption of smartphones, along with the easy accessibility of internet services across the globe, represents one of the major factors supporting the precision farming growth of the market. Also, the increasing dependency on low power wide area (LPWA), Wi-Fi services, and wireless sensor technologies for enhancing agricultural output is boosting the market growth. Moreover, the growing integration of the Internet of Things (IoT) in precision farming for increasing yield and evading the adverse effects of climate change is propelling the market’s growth. Further, introducing numerous systems and devices, such as sensing and monitoring devices, farm management systems, and control and automation systems in precision farming, contributes to the growth of the market.

Supportive Government Initiatives: Government authorities in numerous countries are announcing several supportive initiatives that offer a promising market outlook. Besides, the increasing demand for precision farming, which assists in increasing productivity while reducing costs, is supplementing the precision farming market growth. For instance, the Government of India announced the establishment of 22 Precision Farming Development Centres (PFDCs) across the country to develop and disseminate regionally differentiated precision farming technologies such as hi-tech agriculture and micro irrigation.

Stay Updated on The Latest Precision Farming Market Trends: https://www.theinsightpartners.com/sample/TIPRE00010125/

Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Asia Pacific is expected to register the highest CAGR during the forecast period.

Precision Farming Market Segmentation, Applications, Geographical Insights:

Based on offering, the market is segmented into hardware, software, and services. The hardware segment held the largest market share in 2023.Based on application, the market is divided into yield monitoring, crop scouting, field mapping, inventory management, weather tracking and forecasting, and and others. The yield monitoring segment held the largest share of the market in 2023.The precision farming market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.

Purchase Premium Copy of Global Precision Farming Market Size and Growth Report (2023-2031) at: https://www.theinsightpartners.com/buy/TIPRE00010125/

Key Players and Competitive Landscape:

The Precision Farming Market is characterized by the presence of several major players, including:

AgJunction LLCAg Leader TechnologyCropX Inc.AGCO CorporationTrimble Inc.Deere and CompanyCNH Industrial N.V.TopconDICKEY-johnTeeJet Technologies

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

Precision Farming Market Recent Developments and Innovations:

“CropX Technologies, a leader in digital farm management, and WiseConn, a pioneer in precision drip irrigation solutions, unveiled a groundbreaking API integration. This partnership is set to redefine the landscape of precision irrigation by enabling seamless data exchange and analytics enhancements for farmers globally.””Topcon Agriculture showcased its latest innovations at Agritechnica 2023, the world’s foremost trade fair for agricultural machinery. The event, scheduled from November 12-18, will witness Topcon’s commitment to expanding precision technology for a growing range of market segments and applications.””Trimble, Inc. announced a strategic partnership with CLAAS KGaA mbH, an agricultural engineering equipment manufacturer. The partnership intended to develop a precision farming system: CLAAS CEMIS 1200, SAT 900 GNSS receiver, and GPS PILOT steering system.”

For Region-Specific Market Data, Check Out Brief Sample Pages: https://www.theinsightpartners.com/sample/TIPRE00010125/

Conclusion:

The yield monitoring segment accounted for the principal revenue share of the precision farming market. It is expected to continue its dominance over the forecast period as it supports farmers’ decisions about their fields. On-farm yield monitoring allows farmers to get real-time information during harvest and generate a historical spatial database. This segment is anticipated to account for the largest share of the market as it offers equitable landlord negotiations, environmental compliance documentation, and track records for food safety. The weather forecasting and tracking segment is expected to increase at a significant CAGR during 2023-2031. The use of sensors helps weather predictors offer precise weather forecasting and reading. Furthermore, the introduction of advanced data analytics services and machine learning (ML) techniques is also expected to increase the accuracy and reliability of weather forecasts, thus propelling the growth of the precision farming market during the forecast period.

Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: https://www.theinsightpartners.com/inquiry/TIPRE00010125/

With projected growth to $26.44 Billion by 2031, the Precision Farming Market represents a significant opportunity for solution providers, system technology integrators, investors, industry stakeholders, end users and others. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.

Related Report Titles:

Smart Agriculture Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031Precision Farming Software Market Size and Forecasts (2021 – 2031)Yield Monitoring Devices Market Size and Forecasts (2021 – 2031)Digital Farming Market Size and Forecasts (2021 – 2031)

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Ankit Mathur
E-mail: ankit.mathur@theinsightpartners.com 
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/precision-farming-market

Logo: https://mma.prnewswire.com/media/2520492/The_Insight_Partners_Logo.jpg 

View original content:https://www.prnewswire.co.uk/news-releases/precision-farming-market-skyrockets-to-26-44-billion-by-2031-dominated-by-tech-giants—agjunction-llc-ag-leader-technology-and-cropx-inc–the-insight-partners-302317519.html

LONDON, Nov. 27, 2024 /PRNewswire/ — Omdia’s latest research, Spatial Computing: Cloud and Edge, indicates that the global spatial computing market is estimated to be $4.5 billion in 2024 and will exceed $10 billion in 2029, with a cumulative average growth rate (CAGR) of 18% through wide adoption in major consumer and enterprise use cases.

A term coined in 2003, spatial computing refers to the process involved in integrating digital data with the physical world and all the associated human interactions. Unlike 3D scene rendering, where the simulated world is isolated from the physical world and does not need to include changes in the real-world environment, spatial computing overlays digital data onto the physical world. All interactions with the data can influence the physical world and vice versa. More importantly, spatial computing represents a transformative shift for businesses, allowing users to seamlessly blend the physical and virtual worlds. This innovation is redefining how we interact with data, objects, and one another.

Traditionally, spatial computing is a very computationally intensive process. The emergence of cloud infrastructure enables large amounts of data to be collected, stored, shared, and integrated into various applications. At the same time, the availability of flexible and scalable computing and storage resources encourages enterprises and developers to create large-scale applications that are hosted in the cloud and accessed from different locations. Spatial visual and audio content creation, game development, digital twin, and near real-time simulations are some of the critical use cases that demand immersive user experience by integrating precise geolocation information and motion sensing.

With the advancement of edge compute and storage technology, vendors are determined to integrate spatial computing with various devices. Currently, the most mature applications are extended reality (XR) and robotics. “Google, Microsoft, Apple, Meta, and Qualcomm are among the major technology vendors that aim to bring spatial computing to various edge devices, including smartphones, head-mounted displays, augmented reality glasses, and robotics,” comments Lian Jye Su, Chief Analyst at Omdia.

Premium XR devices like Apple Vision Pro have showcased the promise of on-device spatial computing. As a follow-up to its $100 million Snapdragon Metaverse Fund, Qualcomm announced several chipset platforms for XR devices (Snapdragon XR2 Gen 2 and AR1 Gen 1) and robotics (Robotics RB6 Platform). Android application developers are also revitalized with the update of software development kits (SDKs) from Google and Meta.

Nonetheless, the technology remains nascent as the industry continues to see significant technology vendors offer related solutions. “To achieve this growth, Omdia expects spatial computing technology providers to improve chipset efficiency further, embrace domain-specific generative AI for spatial computing, build a vibrant ecosystem, and, most importantly, push for open standards that promote seamless interoperability and integration,” concludes Su.

ABOUT OMDIA

Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.

Fasiha Khan fasiha.khan@omdia.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/omdia-global-spatial-computing-market-to-exceed-10-billion-by-2029-302317638.html

SOURCE Omdia

BANGALORE, India, Nov. 27, 2024 /PRNewswire/ — Microcars Market is Segmented by Type (Fuel Cars, Hybrid Cars), by Application (Commercial Cars, Personal Cars): Global Opportunity Analysis and Industry Forecast, 2023-2029.

Microcars Market revenue was USD 53350 Million in 2022 and is forecast to a readjusted size of USD 63990 Million by 2029 with a CAGR of 2.6% during the forecast period (2023-2029).

Claim Your Free Report: https://reports.valuates.com/request/sample/QYRE-Auto-20K16044/Global_and_India_Microcars_Market

Major Factors Driving the Growth of Microcars Market:

The microcars market is expanding rapidly, driven by urbanization, rising fuel costs, and growing demand for sustainable transportation. Key factors include the popularity of fuel-efficient and electric microcars, government incentives, and the rise of car-sharing services. Regional markets, led by Europe and Asia-Pacific, are thriving due to supportive infrastructure and environmental policies. As manufacturers innovate to meet evolving consumer needs, the microcars market is poised for continued growth, catering to a diverse range of applications and demographics.

Unlock Insights: View Full Report Now! https://reports.valuates.com/market-reports/QYRE-Auto-20K16044/global-and-india-microcars

TRENDS INFLUENCING THE GROWTH OF THE MICROCARS MARKET:

Fuel cars remain a significant contributor to the growth of the microcars market due to their affordability and reliability. Microcars powered by internal combustion engines are widely preferred in regions with limited charging infrastructure for electric vehicles (EVs). Their compact size and efficient fuel consumption make them ideal for urban commuting, where parking space and maneuverability are essential. The availability of low-cost fuel options and government subsidies for compact, fuel-efficient vehicles in certain regions further support their adoption. Manufacturers continue to innovate by improving engine efficiency and reducing emissions, aligning with global environmental standards. Additionally, the rising demand for affordable vehicles in emerging markets has driven the production of fuel-powered microcars, catering to first-time buyers and budget-conscious consumers. As urbanization and population density increase, fuel-powered microcars offer a practical and economical solution for short-distance travel, ensuring their continued relevance in the global market.

Electric microcars are revolutionizing the microcars market by addressing the growing demand for sustainable urban transportation. With zero emissions and low operating costs, these vehicles align with global efforts to combat climate change and reduce dependency on fossil fuels. Governments worldwide are incentivizing electric vehicle adoption through tax benefits, subsidies, and investments in charging infrastructure, significantly boosting the appeal of electric microcars. Their compact design and electric drivetrains make them ideal for short-distance commuting and navigating congested urban areas. Additionally, advancements in battery technology have improved range and reduced charging times, enhancing the practicality of electric microcars. Urban residents, particularly in Europe and Asia, are increasingly opting for electric microcars as a cost-effective and eco-friendly mode of transportation. As cities prioritize green mobility solutions and consumers embrace sustainable alternatives, the adoption of electric microcars is expected to grow, driving market expansion.

Personal microcars are a key driver of the microcars market, offering convenience and cost-efficiency for individual transportation. These vehicles are designed to meet the needs of urban dwellers who prioritize affordability, ease of parking, and fuel efficiency. Microcars are increasingly popular among younger consumers, retirees, and first-time buyers who seek practical solutions for daily commuting and errands. The rising trend of car-sharing and rental services has also contributed to the demand for personal microcars, as these vehicles are easy to maintain and economical to operate. Manufacturers are introducing stylish, customizable microcars to appeal to diverse consumer preferences, enhancing their market appeal. As urbanization continues to rise and personal mobility becomes a priority, microcars provide an accessible and budget-friendly option for short-distance travel, solidifying their position as a vital segment in the automotive industry.

Rapid urbanization and increasing population density have driven the demand for compact vehicles like microcars. These vehicles are designed to navigate crowded urban areas, offering ease of parking and maneuverability. The need for practical, space-saving transportation solutions in growing cities has made microcars a preferred choice among urban residents. Governments promoting smart city initiatives and sustainable urban planning further support the adoption of microcars, driving market growth.

Increasing fuel costs have encouraged consumers to opt for fuel-efficient vehicles like microcars. These vehicles consume less fuel due to their smaller engines and lightweight design, offering significant cost savings for daily commuting. As fuel prices remain volatile, microcars provide an economical alternative for budget-conscious consumers, boosting their adoption globally.  The rise of car-sharing and ride-hailing services has increased the demand for microcars. These vehicles are ideal for shared mobility platforms due to their low maintenance costs and fuel efficiency. The convenience and affordability of car-sharing services have encouraged urban residents to adopt microcars for short-term use, supporting market growth.

Governments worldwide are offering incentives, such as tax reductions and subsidies, to promote the adoption of compact, environmentally friendly vehicles. Microcars benefit from these policies, particularly in regions focusing on reducing traffic congestion and emissions. These incentives make microcars an attractive option for cost-sensitive buyers, driving their market demand.

Claim Yours Now! https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-20K16044&lic=single-user

MICROCARS MARKET SHARE

Global Microcars key players include Daihatsu, Suzuki Motor, Fiat, Honda, Hyundai, etc. Global top five manufacturers hold a share over 40%.

Europe is the largest market, with a share of about 30%, followed by the USA, and Japan, both have a share of over 35 percent. The microcars market demonstrates distinct regional growth patterns. Europe leads the market due to stringent emissions regulations, extensive EV infrastructure, and the popularity of compact vehicles in urban areas.  Asia-Pacific follows closely, driven by rapid urbanization, rising disposable incomes, and government incentives for eco-friendly vehicles. North America is witnessing steady growth, fueled by increasing interest in electric microcars and car-sharing platforms.

In terms of product, Fuel Cars is the largest segment, with a share nearly 90%. And in terms of application, the largest application is Personal, followed by Commercial.

Key Companies:

HyundaiHondaDaihatsuSuzuki MotorMarutiNissanToyota MotorFIATPSADaimler AGRenaultGrecav AutoTata MotorsChanganZotyeSAICCheryBYDGeelyJAC

Purchase Regional Report: https://reports.valuates.com/request/regional/QYRE-Auto-20K16044/Global_and_India_Microcars_Market 

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

–  Motorized Quadricycles market was valued at USD 922 Million in 2023 and is anticipated to reach USD 1452 Million by 2030, witnessing a CAGR of 6.8% during the forecast period 2024-2030.

–  Driving Micro Motor market was valued at USD 28720 Million in 2023 and is anticipated to reach USD 36180 Million by 2030, witnessing a CAGR of 3.4% during the forecast period 2024-2030.

–  Heavy Quadricycles market was valued at USD 655 Million in 2023 and is anticipated to reach USD 934 Million by 2030, witnessing a CAGR of 5.7% during the forecast period 2024-2030.

–  Spherical Microcarriers Market

–  Micro Column Market

–  Micromobility Market

–  L7 and L6 Quadricycles Market

–  Electric L7 and L6 Quadricycles Market

–  Electric Dirt Bike Market was estimated to be worth USD 1648 Million in 2023 and is forecast to a readjusted size of USD 2293.3 Million by 2030 with a CAGR of 4.8% during the forecast period 2024-2030.

DISCOVER OUR VISION: VISIT ABOUT US!

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

GET A FREE QUOTE

Valuates Reports
sales@valuates.com
For U.S. Toll-Free Call 1-(315)-215-3225
WhatsApp: +91-9945648335

Website: https://reports.valuates.com
Blog: https://valuatestrends.blogspot.com/ 
Pinterest: https://in.pinterest.com/valuatesreports/ 
Twitter: https://twitter.com/valuatesreports 
Facebook: https://www.facebook.com/valuatesreports/ 
YouTube: https://www.youtube.com/@valuatesreports6753 

https://www.facebook.com/valuateskorean 
https://www.facebook.com/valuatesspanish 
https://www.facebook.com/valuatesjapanese 
https://valuatesreportspanish.blogspot.com/ 
https://valuateskorean.blogspot.com/ 
https://valuatesgerman.blogspot.com/ 
市場分析

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/microcars-market-size-to-reach-usd-63-99-billion-by-2029-personal-and-commercial-vehicle-demand-surges–valuates-reports-302317640.html