Industry Analysis & Industry Trends
Revenue for the Precision Agriculture Systems and Services industry (precision ag) is expected to grow. Due to increasing demand from crop farmers who have pushed to maximize crop output to meet growing global demand, industry growth has been strong over the five-year period. During the five years to 2021, steady growth is set to continue for the industry. Revenue is expected to grow in the five years 2021. The 2014 Farm Bill expanded support for small and beginning farmers with training and access to investment capital, which is expected to increase the available funds farmers have for precision agriculture equipment.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
IBISWorld analysis reveals that the Precision Agriculture Systems and Services industry has characteristics of a growing industry. First, the industry's value added (IVA) is forecast to grow at an annualized 4.9% during the 10 years to 2021. This rate outpaces a projected 2.3% increase in US GDP during the same period. The higher growth rate of IVA typically points to a growing industry because it is contributing an increasing share to the US economy each year.
While well-capitalized farms in the Agribusiness industry (IBISWorld report NN004) have been keen to adopt efficiency-enhancing systems and practices, smaller farms that lack as much capital have been slower to invest... purchase to read more