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The global agricultural precision market is being driven by the rising adoption of precison agriculture practices by countries across North America, Europe, and the Asia Pacific. The growing focus on the global food supply as a result of the rising population, growing cost savings related to precise technologies, and policy efforts to introduce advanced agricultural management procedures have aided the growth of the precision agriculture market. The incorporation of advanced analytics in farming activities is furthering the market growth. Advanced analytics are a part of data science that employs various tools and methods for predicting data and ensuring that crops and soils are properly nurtured. This helps farmers to organise their activities.
In February 2020, AGCO Corporation (NYSE: AGCO), one of the key players in the industry, introduced the Fendt IDEALDrive steering system to the North American farmers. It provides the consumer with a simple, end-to-end view of the combine header for reduced stress and exhaustion during long working hours of harvesting, while increasing the combine operator’s field of vision. Such product launches are expected to influence the market in the coming years positively.
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The major key players in the global precision agriculture market include companies like AGCO Corporation, Deere & Company, Raven Industries, Inc., Trimble Inc., Bayer AG, CNH Industrial America LLC., Farmers Edge Inc., Fairport Farm Software, AGCO Corporation, Granular, Inc., Grownetics, Inc., IBM, Proagrica, and others. The comprehensive report covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
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