In a recent business intelligence study, FactMR presents the nitty-gritty of the global agricultural sprayers market considering 2014-2018 as the historic year and 2019–2027 as the stipulated time frame. The business report highlights the drivers, restraints, opportunities and trends affecting agricultural sprayers market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume. The agricultural sprayers market study outlines the key regions – Latin America, North America, MEA, Europe and APEJ – along with the countries contributing the most in the respective regions.
According to the study, leading manufacturers are adopting cognitive technologies to meet growing end-user requirements for more efficient, productive, and precise agricultural machines. More than 75 million IoT-integrated agricultural equipment & machinery will be sold by 2020, according to the World Government Summit. The shift in end-user preferences for modern farming techniques and equipment has led to an upsurge in the sales of next-generation agricultural machineries, in turn influencing growth of the agricultural sprayers market.
APEJ Remains Most Lucrative for Agricultural Sprayer Sales
The Fact.MR study estimates sales of agricultural sprayers in APEJ to close in on 1.3 million units by 2020. As the agriculture sector significantly contributes to the GDP of Asian countries, prospects remain bullish for sales of high-tech farming machineries in the region. APEJ is expected to account for over 43% of the global agricultural sprayers sales by 2020.
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According to the study, gains from agricultural sprayer sales in China and India will remain promising, with key developmental programs taken by the governments in these countries that drives demand for agricultural machineries to improve productivity. Governing organizations in these countries are also offering subsidies and loans to farmers, encouraging the adoption of modern farming practices that involves advanced equipment and machinery. The agricultural sprayers market in APEJ will benefit from favorable government policies that prompt the shift from traditional, labor-intensive farming practices to a more mechanized approach.