Global Guidance and Steering System for Agriculture Market – Industry Trends and Forecast to 2029

Global Guidance and Steering System for Agriculture Market, By Component (Hardware, Software, and Service), Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking & Forecasting, Irrigation Management, Inventory Management, Farm Labour Management, and Others) – Industry Trends and Forecast to 2029

Guidance and Steering System for Agriculture Market Analysis and Size

The increasing global demand for food supply and the need to modernize agricultural processes in a sustainable manner are expected to influence market growth over the forecast period. Furthermore, the growing use of drones to scout fields and videotape harvesting and planting processes is expected to drive market growth.

Data Bridge Market Research analyses that the guidance and steering system for agriculture market which was growing at a value of 2.1 billion in 2021 and is expected to reach the value of USD 3.42 billion by 2029, at a CAGR of 6.3% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Access to real-time data on crop, soil, and ambient air conditions, as well as other relevant information such as hyper-local weather forecasts, labour costs, and equipment availability, is part of the approach. Data is used by predictive analytics software to advise farmers on crop rotation, optimal planting and harvesting times, and soil management. Sensors in the field measure the moisture content and temperature of the soil as well as the surrounding air. Images can be processed and integrated with sensor and other data to provide guidance for immediate and future decisions, such as which fields to water and when or where to plant a specific crop.

Guidance and Steering System for Agriculture Market Dynamics

Drivers

• Insufficiency of labours in agricultural practices

The primary factor driving farming communities to use efficient agricultural methods is a labour shortage in agricultural practises. High-value crops such as apples, strawberries, and sweet peppers are becoming less economically viable due to rising labour costs and a decrease in the number of skilled workers. Farmers of such fruits are increasingly turning to crop sensing solutions to facilitate effective plucking without causing physical damage to the crop.

• Implementation of smart agricultural practices to meet rising food demand globally

Rapid population growth is putting pressure on the agricultural sector around the world to increase productivity in order to meet rising food demand. Farmers are increasingly implementing smart harvest technologies such as harvesting robots, automation, control systems, sensors, and imaging systems to increase profitability and output in less time and at a lower cost. The scarcity of arable land is a major factor driving demand for indoor farming activities and the increased use of remote sensing technologies to reduce labour costs.

Opportunity

Firms in the target industry focuses on business growth through strategies such as advanced product launches, capacity expansion, and heavy production investments in their facilities, which are expected to flourish in the near future as the global guidance and steering system for agriculture market grows. Furthermore, site-specific nutrient management with precision agriculture, increased demand for industrial crops, and investment in agricultural operations in developing countries provide profitable opportunities to market participants.

Restraints

The requirement for large initial investments in the production of numerous components is impeding the growth of the guidance and steering system market. Market participants must manufacture components and encrypt data content that meet regulatory organisation standards. This limits market growth opportunities for companies.

This guidance and steering system for agriculture market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the guidance and steering system for agriculture market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Guidance and steering system for Agriculture Market

The Covid-19 analysis has an impact on production and demand by disrupting the guidance and steering system market research sales channel. Due to the pandemic, most flights have been cancelled or prohibited. The emergency is declared for a specific period of time, which slows the market and lowers market trends for remote sensing satellites. As a result of the epidemic, there has been an increase in public panic, lack of confidence, and concern about the future in the sector. To combat this pandemic, the government and key guidance and steering system market demand players are implementing a variety of features and functionalities that will help the industry regain its appeal. Taking these factors into consideration, the industry can devise a variety of strategies to recover from the situation and boost the economy.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

China planned to launch a new satellite with a LiDAR (light detection and ranging) system in March 2021 to monitor CO2 levels in the atmosphere. Since 2016, China has launched three satellites into orbit for CO2 monitoring and research, all of which are equipped with passive optical guidance and steering system.

Global Guidance and Steering System for Agriculture Market Scope

The guidance and steering system for agriculture market is segmented on the basis of components and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Components

• Hardware
• Software
• Services

Application

• Yield Monitoring
• Field Mapping
• Crop Scouting
• Weather Tracking & Forecasting
• Irrigation Management
• Inventory Management
• Farm Labour Management
• Others

Guidance and Steering System for Agriculture Market Regional Analysis/Insights

The guidance and steering system for agriculture market is analysed and market size insights and trends are provided by country, components and application as referenced above.

The countries covered in the guidance and steering system for agriculture market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America had the largest market share, accounting for 38.10 percent. This share is accounted for by the presence of significant market players such as Lockheed Martin Corporation, Esri, and General Dynamics Mission Systems, Inc., among others. The adoption of guidance and steering system in precision farming applications is expected to drive market growth during the forecast period. Water resource managers can use the technology to mitigate the effects of dry spells and droughts while also matching agricultural irrigation needs.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Guidance and Steering System for Agriculture Market Share Analysis

The guidance and steering system for agriculture market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to guidance and steering system for agriculture market.

Some of the major players operating in the guidance and steering system for agriculture market are:

• Yara International ASA (Norway)
• Koch AG & Energy Solutions LLC (U.S.)
• Coromandel International Limited (India)
• Agriculture Solutions Inc. (Canada)
• Hafia Groups (Israel)
• Sapec Agro S.A. (Portugal)
• Kugler Company (U.S.)
• Israel Chemicals Limited (Israel)
• Van Iperen International B.V. (Netherlands)
• U.S. AG LLC (U.S.)
• Levant Power Corporation (U.S.)
• Honeywell International, Inc. (U.S.)
• Green Peak Technologies (Netherlands)
• Fujitsu (Japan)
• ABB(Switzerland)
• Texas Instruments Inc. (U.S.)
• ST Microelectronics (Switzerland)