PUBLISHER: DataM Intelligence | PRODUCT CODE: 1374865
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1374865
Global Precision Viticulture Market reached US$ 1.54 billion in 2022 and is expected to reach US$ 2.89 billion by 2030, growing with a CAGR of 8.2% during the forecast period 2023-2030.
The global precision viticulture market has witnessed significant growth, farmers are adopting these viticulture technologies as they provide precision data regarding moisture level and crop health, and help in mapping the crop area, These technologies help in precision farming and helps in improving crop productivity. Hence, such factors help in driving the global precision viticulture market.
Furthermore, the presence of vast vineyards can help in increasing the usage of precision viticulture. For instance, according to the International Organisation of Vine and Wine, report of 2023, the world vineyard surface area is estimated around 7.3 million hectares in 2022. Hence, it can help in increasing the market size.
The yield monitoring segment accounts for over 1/3rd of the market share. Similarly, the Asia-Pacific dominates the precision viticulture market, capturing the largest market share of over 1/3rd, due to the presence of a vast cultivation area, India remains the largest producer and consumer of precision viticulture globally.
As consumers are highly adopting wine and other by-products of grapes it indicates an increase in the demand for grapes, for instance, according to the USDA report grapes production in Peru, United States the production of grapes is increased from 68,7000 Metric tonnes in 2020-21 to 70000 Metric Tones in 2021-22.
Furthermore, as the demand for production is increasing, many farmers are adopting these technologies as they help in monitoring the soil health, moisture level, and others and help in the allocation of fertilizers and pesticides, which can help in increasing yield production. Hence, such factors help in increasing the market growth.
Farmers are highly adopting these advanced technologies such as remote sensing, GPS, data analytics tools, yield monitors, and others, as they help in monitoring crop quality, and soil and help in providing data regarding the allocation of fertilizers and pesticides, it helps in managing the diseases and pests effectively, which helps in improving the grape quality and productivity. Hence such factors help in increasing the market growth.
Furthermore, many manufacturing companies are focusing on producing innovative high-quality products in order to attract larger consumer bases. For instance, TeeJet Technologies produces Matrix 908, which helps in navigation, it offers an 8-inch display and a fully updated menu structure that offers intuitive operation and quick setup. Hence, such products can help in increasing the adoption rate.
Some Farmers may not be aware of the usage and benefits of these technologies, and may opt for other alternatives or may stick to traditional farming methods, which could affect the adoption rate of these technologies, hence, less awareness about the advanced technologies can cause a decline in market growth.
The global precision viticulture market is segmented based on product, technology, distribution channel, application and region.
The yield monitoring segment holds the maximum share of the global precision viticulture market. Farmers are adopting these monitoring systems as they help in precision monitoring and provide data, which helps to track and analyze grape yields in a highly detailed and accurate manner. Hence, such factors can help in increasing the market growth.
Furthermore, many key players are producing innovative high-quality products in order to attract larger consumer bases, For instance, Athena IR Tech company produces Transp-IR, this device records the leaf and ambient temperature, humidity, and solar radiation, the data is transmitted for every 10 mins via 4G to the cloud, this can help in precision monitoring of crop. Hence, such products can help in increasing the usage rate.
Asia-Pacific has been a dominant force in the global precision viticulture market and its significance has only grown in the post-2020 era. Farmers in this region are highly adopting viticulture technologies to meet the consumer's demand, as they help in providing data regarding the crop and soil which helps in increasing crop productivity. Hence, such factors help in increasing the market in this region.
Furthermore, the cultivation area of grapes is high in this region, for instance, according to the Ministry of Commerce and Industry, Government of India report, Grape is one of the important fruits covering an area of 161.91 thousand hectares occupying 2.30 % of the total area of Fruits Production in 2021-22. Such vast cultivation areas can help in increasing the usage of precision viticulture in this region.
Additionally, consumers in this region are highly adopting grape products such as wine which significantly increases the production rate. For instance, according to the USDA report of 2023, Australia produced around 200,000 tons of grapes during the past 5 years. Hence, it can help in increasing the adoption of precision viticulture in this region.
The major global players in the market include: Ag Leader Technology, Athena IR Tech, Deere & Company, Topcon, UAV-IQ Inc, Andermatt Group AG, Taranis, Esri Australia, TeeJet Technologies, and AHA Viticulture.
The pandemic has brought a disruption in the supply chain, many manufacturing companies have shut down during the pandemic due to government lockdown restrictions which have led to a decrease in the availability of products in the market, this has shown a negative impact on the global precision viticulture market.
The global precision viticulture market report would provide approximately 69 tables, 75 figures and 187 Pages.
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