Latin America Advanced Farming Market to grow at a CAGR of 15.8% to aggregate $541.8 million by 2022
Increase in demand for livestock and aqua farming is expected to drive the Latin America advanced farming market. The leading segment – High Precision Positioning Systems (HPPS) – is expected to grow at a CAGR of 15.8% to reach $75.3 million by 2022.
Infoholic Research LLP, a global market research and consulting organization, has published a study titled “Latin America Advanced Farming Market: Drivers, Opportunities, Trends, and Forecasts: 2016–2022”.
According to Infoholic Research, advanced farming will change the way of current farming techniques and outcome with more production and profitability in the farming business. As per the study, Latin America advanced farming market is expected to have a significant growth due to the rise in the adoption of technologies among the end-users to increase the production and to improve the field. Global Positioning System (GPS) technology is majorly used in the agriculture sector for monitoring and tracking the farming activities. The Latin America Advanced Farming market is expected to grow at a CAGR of 15.8% during the forecast period 2016–2022 to touch an aggregate of $541.8 million by 2022.
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Major share of the revenue comes from High Precision Positioning Systems that accounts for 29.15%, followed by Variable Rate Technology (VRT) accounting for 22.50% in 2016. The growth in the technologies has led to the overall growth of the market with VRT market predicted to reach $58.1 million by 2022 from $24.1 million in 2016, growing at a CAGR of 15.8%. At present, Brazil holds the majority of the share followed by Argentina with a huge chunk of the market, and Chile & Mexico will be having higher growth rates compared to developing countries.
“Latin America advanced farming market will grow as a lot of private investments, programs, and projects have been implemented in the field of agriculture. Moreover, developing countries in Latin America such as Mexico, Chile, Argentina, and Brazil have a huge opportunity due to the increasing demand and the presence of large agriculture fields. Moreover, aqua farming is expected to witness a healthy growth in the emerging markets of Chile and Ecuador.” – Tariq Ahmed. Shaik, Research Manager at Infoholic Research
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The report aims to highlight key insights from providers and end-users. The report provides an in-depth analysis and forecast about the industry covering the following key features:
- The report not only highlights users’ conundrum (challenges and barriers to adopting advanced farming market) but also brings in their perspective on the Latin America advanced farming market
- The market has been analyzed by taking into account the key countries – Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, and Uruguay
- The report analyzes the market according to the technologies, applications, services, deployment model, and countries
- The report analyzes the top 16 players in terms of market reach, business strategy, and business focus
- Competitive bench-marking analysis to optimize short term and long term strategy of the organizations
- Stakeholders’ insights and key trends (current and future) of the market
Report Scope – Latin America Advanced Farming Market
The report covers the present scenario and the growth prospects of the Latin America advanced farming market during the forecast period 2016–2022. Moreover, to calculate the market size, the report considers the revenue generated from the sales of below mentioned segments.
- Technology – Includes the revenue generated from Variable Rate Technology (VRT), High Precision Positioning Systems (HPPS), Automated Steering Systems, Remote Sensing, and Integrated Electronic Communication
- Applications – Includes the revenue generated from fleet management, livestock farming, forest farming, aqua farming, and horticulture
- Services – Includes the revenue generated from integration services, maintenance services, and training & consulting services
- The report covers the evolution of advanced farming, features, advantages, and disadvantages
- The report covers drivers, restraints, and opportunities (DRO) affecting the market growth over the next forecast years (2016–2022)
- It also contains analysis of vendor profiles, which include financial health, business units, key business priorities, SWOT, strategy, and views
- The report covers competitive landscape, which includes mergers & acquisitions and joint ventures & collaborations
Finally, the report covers the adoption and usage of advanced farming in Brazil, Mexico, Argentina, Colombia, Uruguay, Peru, Chile, Ecuador, Bolivia, and Other
About Infoholic Research
Infoholic Research is a global market research and consulting organization providing strategic and high-level market intelligence in emerging and niche technologies. Founded in 2014, we are headquartered in India with an office in the US and with consultants working across the globe. Our market analysis powered by rigorous methodology and quality metrics provides information and forecast across all the emerging markets, technologies, and business models. We aim at delivering high-quality results to our clients providing them with in-depth industry insights to identify new business opportunities and nurture their business strategies. For more information, please visit www.infoholicresearch.com