Israel Precision Farming Market 2021-2027

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Israel Precision Farming Market, By
Component , Trend Analysis, Market Share
Forecast, 2021-2027
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Industry Trends Forecast Report 2027 A recent
study conducted by the strategic consulting and
market research firm BlueWeave Consulting revealed
that the Israel Precision Farming market is
estimated to grow at the CAGR of 13.7 during the
forecast period of 2021-2027. The adoption of
precision farming is flourishing at a high rate
because of the efforts made by companies to
promote the use of modern farming technologies
and techniques, along with the support of local
communities like Kibbutz and Moshavs.
Furthermore, high research and development
activities in Israel also favor the market growth
of precision farming. However, a lack of
sufficient awareness of the benefits of precision
farming among farmers and the high cost of
equipment and technologies may act as restricting
factors for market growth.
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Growth drivers Increasing RD 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.
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Restraints 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.
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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.
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• Recent Developments
• In July 2021, Amir Marketing and Investments in
  Agriculture Ltd., announced to have signed an
  exclusive agreement with the NDrip to distribute
  NDrips 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.

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Competitive Landscape 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. Sample Copy of the Report
https//www.blueweaveconsulting.com/report/israel
-precision-farming-market/report-sample
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