(PharmaNewsWire.Com, May 14, 2018 ) Overview: Growing demand for food is pushing the growers to adopt precision farming techniques and optimize their resources exponentially more profitably with minimum wastages. Factors just like high initial investment costs, lack of technological skills, and reluctance to adopt the trendy and additional scientific technologies for farming practices have been inhibiting the market.
The Middle East and Africa precision Agriculture Market was valued at USD 0.37 billion in 2016 and is approximated to be growing at a rate of 11.7%, to achieve USD 0.64 billion by 2021. Thanks to the improved stress on mechanization of agriculture across the region, the regional market is foreseen to continue growing at a really high rate.
Drivers and Restraints: Speedy advancement in Science & Technology applicable in farming is calculated to be a key reason behind the enlargement of the demanded merchandise of the market. The geotagging enabled technologies akin to the GPS system are used extensively in precision agriculture, and presently, the guidance system section is foretold to be the best market share contributor.
Due to the large dependence of this day’s agriculture on environmental factors like monsoon and rains, the merchandise relating to the Weather pursuit & prediction section is calculated to possess an impressive share within the regional market within the near future. The African region has a colossal market potential to contribute to the regional market inside the forecast period of time. Developing countries in Africa region like South Africa are quickly adapting to the utilization of technology in agriculture is additionally expected to drive the market.
Geographical Segmentation: Based on geography, the market for precision agriculture is analyzed underneath the Middle East and Africa regions. This region offers a various and enormous agricultural market. Water scarceness in countries of the Middle East are driving farmers towards the utilization of contemporary agricultural practices is predicted to propel the marketplace for precision agriculture in this region. Some of the major companies dominating the market, by their products and services include Abbott Healthcare, Brsitol-Myers Squibb, Alere Inc., Abbvie Inc., Janssen Therapeutics, Gilead Sciences, Merck & Co. Inc, BD Biosciences, Beckman Coulter, Partec, Sysmex, VIIV Healthcare, Apogee Flow Systems, Mylan inc., PointCare Technologies Inc., Zyomyx Inc., Roche Diagnostics, Qiagen, Siemens Healthcare, and bioMerieux.
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