Another report added by the QY Research in its database titled, “Global Precision Agriculture Systems Market 2018 History, Overviews, Demand and Forecast 2025,” for the forecasted period of 8-years, i.e. between 2017 and 2025, expanding with a healthy CAGR of 11.9% during the projected period.
According to this report the global precision agriculture system market is anticipated to touch a valuation at US$ 6946 Mn by the end of 2025 from US$ 2826 Mn in the year 2017. QY Research’s expert team of analysts have identified the increasing advantages of the precision agriculture system that assists in the growing investment in precision agriculture systems market.
Global Precision Agriculture Systems: Segmental Analysis
The precision agriculture system market is segmented into technology and applications. On the basis of applications, the global market for precision agriculture system is segmented into Agricultural Cooperatives and Farmland & Farms. Based on the technology, the market is sub-segmented into Variable-Rate Technology, Guidance System, and Remote Sensing
Global Precision Agriculture Systems: Drivers and Restraints
The global precision agriculture system market is witnessing a significant growth during the projected period. Increasing investment in the research and development activities by the key players that allows them to develop both hardware and software for the precision agriculture is creating a positive influence on the growth of the global precision agriculture system market.
Some of the technologies such as nanotechnology, telematics, and robotics are helping farmers to use technologies in farming to increase the agriculture output and make better decisions. This led to drive the growth of the market in the near future. Additionally, other factors such as increasing adoption of smartphones, booming population, and increasing trend of cloud technologies are expected to propel the growth of the precision agriculture system market in the years to come.
The main factor that hampers the growth of the global precision agriculture system market is a lack of technical knowledge among farmers and a high cost of capital investment.
Global Precision Agriculture Systems: Key Players
Topcon Positioning Systems, Deere & Company, TeeJet Technologies, CropMetrics LLC, SST (Proagrica), Trimble Agriculture, Raven Industries, CropX, CNH Industrial, Valmont Industries, AgJunction, AGCO Corporation, Ag Leader Technology, Dickey-John Corporation, and Monsanto Company are the major manufacturers operating in the global market for precision agriculture systems.
Q4 Earnings and Revenues of Valmont Industries, Missing Estimates
Valmont Industries came out with quarter 4 earnings on February 20, 2019, with a $1.87 per share, by missing the Zacks consensus estimation of $1.89 per share. In the last year, the earnings of the company were $1.67 per share. In the quarterly report, the earnings were a surprise of -1.06%. In the last quarter, it was expected that the company would post its earnings of $1.80 per share.
Since, the last four quarters, the firm has surpassed the estimated consensus of earnings per share three times. In the quarter ended December 2018, Valmont, which belongs to Zacks Steel -Tube and Pipe Industry, posted its revenue earnings of $697.36 Mn, by missing the estimated consensus of 1.68%. In the last year, the firm’s revenue was $714.98 million. The company has surpassed its consensus revenue estimates just one time over the last four quarters.