The global market for precision agriculture solutions is predicted to grow from €3.1 billion in 2022 to about €5.2 billion in 2027, with a compound annual growth rate of 11.4%. Precision farming involves using technology to manage field variations, increase crop yield, and reduce agricultural input consumption. Technologies such as auto-guidance and machine monitoring are currently being used in precision agriculture practices. This growth in precision agriculture solutions signifies an increased focus on maximizing productivity and sustainability in the agriculture industry.
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According to a new research report from the IoT analyst firm Berg Insight, the global market for precision agriculture solutions is forecasted to grow from € 3.1 billion in 2022 at a compound annual growth rate (CAGR) of 11.4 percent to reach about € 5.2 billion in 2027.
A set of technologies are applied in precision farming practices, which are aimed at managing variations in the field to maximise yield, raise productivity and reduce consumption of agricultural inputs. While solutions such as auto-guidance and machine monitoring and control via on-board displays today are…
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