Guidance And Steering System For Agriculture Global Market Report 2023

Major players in the guidance and steering system for agriculture market are ABB Ltd., Agriculture Solutions Inc., Coromandel International Limited, Fujitsu Limited, Green Peak Technologies, Hafia Groups, Honeywell International, Inc.

New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Guidance And Steering System For Agriculture Global Market Report 2023" - https://www.reportlinker.com/p06480017/?utm_source=GNW , ICL Israel Chemicals Ltd., Koch AG & Energy Solutions LLC, Kugler Company, Levant Power Corporation, Sapec Agro S.A., STMicroelectronics N.V., Texas Instruments Incorporated., CNH Industrial N.V., and Deere And Company.The global guidance and steering system market is expected to grow from $2.08 billion in 2022 to $2.23 billion in 2023 at a compound annual growth rate (CAGR) of 7.24%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $2.85 billion in 2027 at a CAGR of 6.34%.A guidance and steering system for agriculture refers to a technology that can automatically guide a vehicle or a machine in a field using positioning, navigation, control, and actuation technologies.It can help farmers improve the accuracy, efficiency, and productivity of their operations.A guidance system can control either the steering angle of the front wheels of the tractor or other steering equipment.North America was the largest region in the guidance and steering system for agriculture market in 2022. The regions covered in the guidance and steering system for agriculture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of components in guidance and steering systems for agriculture are hardware, software, and services.Hardware refers to any tangible and physical component that can be touched and manipulated by a user, and it includes computer systems or electronic devices.It included various satellites such as BeiDou Navigation Satellite System (BDS), Global Positioning System( GPS), Globalnaya Navigazionnaya Sputnikovaya Sistema (GLONASS), and Global Navigation Satellite System (GALILEO). These are used for several applications, including yield monitoring, field mapping, crop scouting, weather tracking and forecasting, farm labor management, and others.The increasing adoption of precision farming is expected to propel the growth of guidance and steering systems for the agriculture market over the coming years.Precision farming, also known as precision agriculture, is an agricultural management strategy that uses advanced technology to optimize crop yields and reduce waste.Guidance and steering systems are essential components of precision farming.These systems use GPS and other technologies to guide agricultural machinery, such as tractors, combines, and sprayers, with pinpoint accuracy.This helps to optimize the use of inputs such as fertilizer, pesticides, and water, reducing waste and improving crop yields.Therefore, this factor boosts the guidance and steering system for the agriculture market.For instance, in August 2022, according to reports shared by the U.S. Wheat Associates Inc., a US-based export market development organization, farmers that used precision farming technology observed a 4 percent gain in crop yield, a 7 percent improvement in the effectiveness of fertilizer placement, a 9 percent decrease in the use of herbicides and pesticides, and a 6 percent decrease in the usage of fossil fuels. Furthermore, in February 2023, according to the United States Department of Agriculture (USDA), a US-based federal agency, the use of precision agriculture technologies in the US to reduce the risk of nutrient losses to surface water increased from 19% in 2019 to 25% in 2020. Thus, the increasing adoption of precision farming is expected to boost the guidance and steering system for the agriculture market.Product innovation is a key trend gaining popularity in guidance and steering systems for the agriculture market.Major companies operating in the guidance and steering system for the agriculture market are developing innovative technological products to sustain their position in the market.For instance, in March 2023, SingularXYZ Intelligent Technology Ltd., a China-based manufacturing company, launched the upgrade of the SAgro100 automated steering system. This innovative technology uses GPS technology and precision mapping to provide farmers with accurate and efficient guidance and steering of their agricultural equipment. Additionally, it contains unique features such as 5 cm of auto-steering, which is 2.5 cm of auto-steering accuracy, improving your farming efficiency and quality while freeing your hands, numerous work modes such as straight line, curve, U-turn, and pivot, a higher yield at a lower cost, high compatibility, multiple task types, farm management, and system components that are allowing farmers to more effectively plant, cultivate, and harvest their crops.In November 2021, CNH Industrial N.V., a UK-based agricultural machinery company, acquired Raven Industries Inc., for $2.1 billion. With this acquisition, CNH Industrial N.V. aims to expand its portfolio of precision agriculture technologies and improve its ability to offer integrated solutions for precision farming. Raven Industries Inc. is a US-based agriculture company that makes precision agriculture products and guidance and control systems.The countries covered in the guidance and steering system for agriculture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The guidance and steering system for the agriculture market consists of revenues earned by entities by providing guidance and steering system for agriculture services such as yield monitoring and mapping, automated guidance services, variable rate technology, and real-time monitoring services.The market value includes the value of related goods sold by the service provider or included within the service offering.The guidance and steering system for the agriculture market also include sales of automated steering systems, implementation steering systems, display and control systems, yield mapping and monitoring systems, soil moisture sensors, guidance and mapping drones, and GPS receivers and antennas are used in providing guidance and steering systems for agriculture services.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The guidance and steering systems for agriculture market research report is one of a series of new reports that provides guidance and steering systems for agriculture market statistics, including guidance and steering systems for agriculture industry global market size, regional shares, competitors with a guidance and steering systems for agriculture market share, detailed guidance and steering systems for agriculture market segments, market trends and opportunities, and any further data you may need to thrive in the guidance and steering systems for agriculture industry. This guidance and steering systems for agriculture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06480017/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________