Agriculture Global Market Briefing 2017, Historic and Forecast Revenues 2012 – 2020, Covering: Africa, America, Asia, Europe, Oceania

Agriculture Global Market Briefing 2017, Historic and Forecast Revenues 2012 – 2020, Covering: Africa, America, Asia, Europe, Oceania

  • November 2016 •
  • 23 pages •
  • Report ID: 4348730 •
  • Format: PDF
Agriculture involves the cultivation of plants, and animal and bird rearing for food, fabrics, fibers, bio-fuel, medicinal and other products used to sustain and enhance human life. This industry also includes horticulture and aquaculture.

Asia was the largest region in the agriculture market in 2016, accounting for about $2.5 billion or nearly 60% market share. More than 2.2 billion people in Asia depend on agriculture for their food. Rice is a prominent crop in Asia. 90% of the world's production and consumption of rice comes from this region .

The Americas was the second largest region accounting for 17.0% market share. Agriculture and its related industries provide 9% of the US employment. The output of America’s farms contributed $170 billion, about 1% of GDP. Europe was the third largest region accounting for 12% market share. Cereals, sugar beet, oil seeds and apples are the largest producing agricultural products in Europe.Other significant regions include Middle East & Africa and Oceania.

Big data farming also known as precision farming is being widely used in several developed countries to make agriculture production more efficient. Precision agriculture collects real time data on weather, soil and air quality, crop maturity, equipment, labor costs and availability to carry out agriculture activities.

Farmers use these techniques to determine the amount of nutrients, water, seed and other inputs to produce wide range of crops on diverse soil environments, thereby increasing farm and crop yield.

Commercial farmers should consider adopting precision farming technologies to minimize input costs to increase farm productivity.
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