Latin America Precision Agriculture Market 2028: Key Companies, Player Strategies & Forecast

 


Future Latin America Precision Agriculture Market: Key Dynamics, Size & Share Analysis

The Latin America Precision Agriculture market is projected to grow at a CAGR of around 13.0% during the forecast period, i.e., 2023-28.

Top Driver Impacting the Latin America Precision Agriculture Market Growth

Surging Government Initiatives to Support the Adoption of Modern Agriculture Technique - In recent times, there has been a marked surge in governmental endeavors aimed at bolstering Precision Agriculture in the Latin American region. This is due to escalating recognition of the potential benefits that these cutting-edge techniques can provide, including heightened productivity, reduced environmental impact, and reduced food security. It is a pioneering method that utilizes technology to streamline farming practices & augment productivity. The government provides a tax credit that can extend up to 20% of the expenditure incurred in implementing these methods such as variable-rate fertilization & pesticide application. This incentive propels farmers to embrace these techniques & invest in these technologies.

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Understanding the Core Segments in the Latin America Precision Agriculture Market

Latin America Precision Agriculture Market Size, Share & Industry Trends Analysis - By Offering (Hardware, Software, Services), By Application (Precision Irrigation, Yield Monitoring, Precision Spraying, Precision Fertilization, Precision Planting, Data Management), By Crop Type (Cereals & Grains, Oil seeds & Pulses, Fruits & Vegetables, Others [Herbs, etc.],

Geographical Analysis of the Latin America Precision Agriculture Market

-By Region

  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
  • Rest of Latin America

Of all the regions, Brazil dominates the market in Latin America during the forecast period due to the country’s vast attributes including its geographical area and high level of government support for modern agriculture practices.

Who Dominates the Latin America Precision Agriculture Market Insights on Key Industry Players?

Companies are strengthening their presence in the Latin America Precision Agriculture market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.

  • Ag Smarts Inc.
  • AGCO Corporation
  • BASF SE
  • Bayer
  • Cropmetrics LLC
  • Deere & Company
  • Leica Geosystem
  • Monsanto Company
  • Raven Industries, Inc.
  • Topcon Corporation
  • Trimble Inc.
  • Others

Tap into future trends and opportunities shaping the Latin America Precision Agriculture view the complete report: https://www.marknteladvisors.com/research-library/latin-america-precision-agriculture-market.html

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