In Ireland, Research and Markets published its latest report on the precision agriculture market and says the precision agriculture industry is expanding quickly and may reach $7.9 billion soon with the largest increases in agriculture guidance and monitoring systems. The report says lower prices for sensors, increased use of mobile technologies, and the evolution of GIS systems, combined with the increased attention to pricing, climate factors and sustainability are responsible for the huge growth of these applications in agriculture.
One challenge they foresee is the regulatory environment and related issues that still surround many regions regarding unmanned aerial vehicles or drones. While several countries and regions around the world are covered in the report, it notes that the U.S. is currently the largest precision agriculture market and also the fastest growing market.