Asia Pacific Advanced Farming Market to grow at a CAGR of 13.6% to aggregate $5.83 billion by 2022
The ever-increasing food demand, need for water management system and government and UN support are factors that will propel the growth of Asia Pacific Advanced Farming Market
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Asia Pacific Advanced Farming Market: Drivers, Opportunities, Trends, and Forecasts, 2016–2022”.
Advanced farming is a term coined for IT enabled farm management system to manage and identify the variability in the field for optimum profitability and land sustainability. Advanced farming technologies namely high precision positioning system and variable rate technology help farmers to take intelligent decisions on enhancing crop yield and ensuring a better harvest. These technologies are also useful in tracking animal health.
The enhanced demand for high quality and diversified food products in domestic and international markets, central government initiatives towards agriculture will continue to drive the market in this region. Advanced farming address the evolving needs of the farmers. Government support in agriculture is creating awareness among farmers about the latest farming technologies. Once they are convinced about the benefits they are interested in investing in the technology. The initial high outlay required makes farmers in the underdeveloped economies resistant in investing in this technology.
Increasing concern about climate change, food scarcity and the need to adopt environment friendly farming practices will drive the market. Cloud based FMS is an emerging trend in the advanced farming market. Farm activities can be monitored even from remote locations. An alert message is received if any variability is observed in the health of the farm animals. Cloud based FMS is popular in Australia.
China hold the major share in APAC market followed by ANZ. ANZ is exhibiting good prospects for advanced farming because several agribusinesses and private firms are interested in improving the export market and would not hesitate in making investments. They are also exploring the possibility of applying this technology in organic farming and in exploiting the large unused land in Australia.
The market is segmented by technology, applications and services. The technology segment includes variable-rate technology (VRT), high precision positioning systems, automated steering systems, remote sensing, and integrated electronic communication.
The application segment includes fleet management, livestock farming, forest farming, aqua farming, and horticulture. Services include integration services, maintenance services, and training & consulting services.
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“Advanced farming technologies are currently being used by private firms and agrobusinesses for commercial farming in Asia Pacific. Most of the farming population are still dependent on traditional farming methods. The market will steadily grow in the next 5 years as countries are investing in advanced farming. Japan wants to reduce its dependency on imports while the Philippines will invest to tackle issues arising from climate changes. China and countries in South East Asia hold a good potential for start-ups, while the market in ANZ will grow with improvements in support and services.” – Jaydeep Bhattacharjee – Group Head at Infoholic Research
Purchase a copy of Asia Pacific Advanced Farming Market: Drivers, Opportunities, Trends, and Forecasts, 2016–2022
- The report covers the present scenario and the growth prospects of the Asia Pacific advanced farming market during the forecast period
- It not just highlights users’ conundrum (challenges and barriers to adopting advanced farming) but also brings in their perspective on the Asia Pacific farming market
- It covers drivers, restraints, and opportunities (DRO) affecting the market growth during the forecast period
- The report analyses the market based on technologies, applications, services, deployment model, and countries
- The report entails the evolution of advanced farming, features, advantages, and disadvantages
- The market is analysed and segmented by the following countries- ANZ, China, India, Indonesia, Japan, Malaysia, Philippines, Thailand, and Vietnam
- Vendor profiling of the top 16 players in terms of their market reach, business strategy, and business focus
- Competitive benchmarking analysis to optimize short term and long-term strategy of the organizations. Stakeholders’ insights and key trends (current and future) of the market