Israel Precision Farming Market, By Component (Hardware, Software, Services), By Technology (Guidance System, Remote Sensing, Variable Rate Technology), By Application (Yield Monitoring, Field Mapping, Crop Scouting, Weather Tracking, Irrigation Management, Farm Labor Management, Others) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: August 2021
- Report ID: BWC2146
- Available Format: PDF
- Page: 110
Report OverviewPrecision farming is growing in Israel due to the growing demand for efficient agricultural technologies, tools, and techniques, the rapid switch from labor-intensive to technology driven farming, and the numerous initiatives by companies to promote precision farming.
The Israel precision farming market is growing at the CAGR of 13.7% during the forecast period. Precision farming is growing in Israel due to the growing demand for efficient agricultural technologies, tools, and techniques, the rapid switch from labor-intensive to technology driven farming, and the numerous initiatives by companies to promote precision farming. Furthermore, the Israel precision farming market is likely to prosper in the forecast future as major firms take steps to deliver high-quality education on how to employ contemporary agricultural technologies to expand crop production.
Israel Precision Farming Market- Overview
Precision farming is an agricultural management technique that leverages technology and data to monitor and measure requirements of the crop at different stages of farming. In this approach, the quantity of resources is determined based on the size of the farm and how much the average yield should be. Precision farming, for example, involves observing and measuring the right type and amount of fertilizer a crop needs and applying it at the right time.
Israel Precision Farming Market Forecast and Trends
Increasing R&D Activities in Precision Farming
Israel precision farming has an innovative advantage over the world. In terms of agricultural innovations, it is only a step behind the US. Companies like SupPlant and Taranis are offering innovative solutions in precision farming in Israel. For instance, a startup called SupPlant developed sensor-less irrigation technology, which uses real-time data and algorithms to determine and generate precise irrigation plants for crops. Israel is also working hard to make water consumption as efficient as possible, with 80% of water being reused. Such breakthroughs provide enormous opportunity for local and rural communities to thrive.
Strong Presence of Local and Rural Communities
The strong presence of agricultural communities like Kibbutz and Moshav, which engage in the efficient management of the land and farming, favors the growth of the country as well as the precision farming market in Israel. Initially established as an agriculture-only community, the Kibbutz ventured into business and tried to develop and commercialize drip irrigation system. These communities assist in the sharing of agricultural land and resources in order to overcome obstacles encountered throughout the farming process. In Israel, such efforts benefit precision farming. Such efforts work in the favor of precision farming in Israel.
Limited Knowledge of Modern Farming Technologies
Even though Israel is pioneering precision farming technologies, its adoption is still highly concentrated among the big farmers only. Israeli farmers are largely unaware of precision agriculture and the existence of advanced agricultural technologies, which in turn prevents their businesses from expanding. Furthermore, the high cost of such technologies serves as an additional barrier to their adoption. To combat this challenge, numerous companies are taking initiatives and running campaigns to educate farmers about the benefits of precision farming.
Impact of COVID-19 on Israel Precision Farming Market
The COVID-19-induced pandemic declared by the World Health Organization significantly affected the economy of several countries. With the surging COVID-19 cases in the country, the authorities imposed a lockdown in the country to control the spread of the virus. Due to this, manufacturing and production operations were completely halted, which negatively affected the Israel precision farming market. Furthermore, disruptions in the supply chain affected the market as the floating demand for precision farming components and technologies could not be met.
Israel Precision Farming Market - By Component
Based on components, the Israel precision farming market is segmented into hardware, software, and services. The hardware segment accounts for the largest market share due to the growing adoption of controlled and automation devices in farming activities to increase agricultural production. This segment is further classified into automation and control systems, and sensing and monitoring devices. Automation and control hardware components are proliferating in the Israeli precision farming market due to the increased efficiency in the farming process and reduced labor requirements.
Israel Precision Farming Market - By Technology
Based on technologies, the Israel precision farming market is segmented into guidance systems, remote sensing, and variable rate technology. The guidance system segment is witnessing substantial growth in the Israeli market and is projected to witness the highest CAGR during the forecast period as well. It is one of the most advanced and widely used precision farming technologies. It is used to precisely navigate to specific areas in the field over time to collect soil samples or monitor crop conditions.
Israel Precision Farming Market - By Application
Based on applications, the Israel precision farming market is segmented into yield monitoring, field mapping, crop scouting, weather tracking, irrigation management, farm labor management, and others. A sensor-based yield monitoring system provides vital georeferenced information regarding moisture content of a crop at harvest time, which is necessary for accurate yield management. Furthermore, the irrigation management segment is also expected to witness the highest CAGR during the forecast period because of the efficient drip irrigation technologies in Israel proposed by emerging startups.
The leading market players in the Israel precision farming market are Saturas Israel, Taranis Israel, Tevatronic, Prospera Technologies Ltd., Haifa Group, CropX Technologies, Roots Sustainable Agricultural Technologies Ltd., PickApp Farming Ltd., Metzer Group, Netafim Ltd, SupPlant, and other prominent players.
The companies significantly adopt competitive strategies like partnerships, mergers & acquisitions, collaborations, and joint ventures to expand their market and establish themselves as leading brands to improve their distribution system. The industry participants have also been taking various initiatives to promote the use of modern technologies and precision farming techniques among Israeli farmers to increase their market revenue.
- In July 2021, Amir Marketing and Investments in Agriculture Ltd., announced to have signed an exclusive agreement with the NDrip to distribute NDrip’s precision irrigation system to Israeli farmers.
- In June 2021, SupPlant, an Israeli agricultural company, announced to have raised USD 10 million in the funding round led by Boresight Capital, Menomadin Foundation, Smart-Agro Fund, and Mivtah Shamir.
Scope of the Report
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Million
By Component, By Technology, By Application,
Saturas Israel, Taranis Israel, Tevatronic, Prospera Technologies Ltd., Haifa Group, CropX Technologies, Roots Sustainable Agricultural Technologies Ltd., PickApp Farming Ltd., Metzer Group, Netafim Ltd, SupPlant, and other prominent players.
- Automation and Control System
- Sensing and Monitoring Devices
- System Integration and Sensing
- Maintenance and Support
- Professional & Managed Services
- Guidance System
- Remote Sensing
- Variable Rate Technology
- Yield Monitoring
- Field Mapping
- Crop Scouting
- Weather Tracking
- Irrigation Management
- Farm Labor Management
1. What is the current CAGR of the Israel Precision Farming Market?
Answer: The Israel Precision Farming Market is currently growing at the CAGR of 13.7%.
2. What are the major factors driving the growth of the Israel Precision Farming Market?
Answer: The major factors driving the growth of the Israel Precision Farming Market areexpanding R&D activities in precision farming and strong presence of local and rural communities.
3. Who are the key players in the Israel Precision Farming Market?
Answer: The key players in the Israel Precision Farming Market are: Saturas Israel, Taranis Israel, Tevatronic, Prospera Technologies Ltd., Haifa Group, CropX Technologies, Roots Sustainable Agricultural Technologies Ltd., PickApp Farming Ltd., Metzer Group, Netafim Ltd, SupPlant, and other prominent players.
4. Which component segment accounted for the largest share in the Israel Precision Farming Market?
Answer: The hardware segment accounted for the largest share in the Israel Precision Farming Market.
5. Based on applications, which segment holds the largest share in the Israel Precision Farming Market?
Answer: The yield monitoring segment holds the largest market share based on applications.
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