Satellite Imagery and Broadband to Nearly Quadruple the Earth Observation Precision Agriculture Market by 202926 Oct 2020, 09:19 UTC
Paris, Washington D.C., Montreal, Yokohama (Euroconsult PR) – For its latest research titled, EO4AG – Earth Observation for Agriculture, Euroconsult has teamed up with TerraMetric, a US-based, global business development firm focused on geospatial and new space markets, to provide an in-depth analysis on the global trends, vertical integration opportunities and regional demand forecasted for Earth observation-based services and products addressing the agriculture sector.
The two companies forecast that by 2029, the total agricultural market is expected to double in value to reach over $815 million. While government-driven sales are foreseen to remain significant, the uptake of precision agriculture solutions within the private sector due to expected near-global broadband coverage is expected to be the main catalyst behind this anticipated market growth.
Precision agriculture incorporates a broad range of technology areas. In this context, it refers to supporting commercial agricultural supply chains by providing Earth observation-based solutions and tools to back farming optimization processes, as well as research and development initiatives.
For precision agriculture to evolve, connectivity will be key. Several outside factors such as, the expansion of automated analytics and the emergence of Low Earth Orbit (LEO) broadband constellations, are expected to catalyse a momentous growth in ...