Use Of Big Data In Farming To Aid The Growth Of The Global Oilseed Farming Market

23 Jul, 2019

Big data farming, also known as precision farming, is being widely being used in several developed countries to make oilseed 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, is the major trend in the oilseed farming market.

The oilseed farming market includes sales of oilseeds by entities that produce oilseed crops earn from sales of oil seeds. Oilseeds include soybeans, sunflower seeds, rapeseeds, sesame seeds and other oilseeds. These crops are typically grown in open fields and have an annual growth cycle. This market excludes processed oilseed products such as refined and unrefined vegetable oils and oilseed extracts. This market also excludes the proceeds from the captive (internal) consumption of the seeds for further processing.

The oilseed farming market anticipated to reach a esteem of about $663 billion by 2022, altogether developing at a growth rate of around 8% amid the figure period. The development within the oilseed farming market is due to low interest rate environment, expanding populace and worldwide financial growth.

However, the advertise for oilseed cultivating is anticipated to confront certain limitations from a few components such as frail wage development in created economies and diminishment in free trade.

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The global oilseed farming market is segmented as follows: By type - soybean farming, other oilseed farming . By geography - North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific oilseed farming market accounts the largest share in the global oilseed farming market.

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The agriculture market, of which the oilseed farming market is a segment comprises of sales of animal and crop produce and other support services by entities that produce animal produce, crops and rural activities. Agriculture involves the cultivation of plants, and animal and bird rearing for food, fabrics, fibres, bio-fuel, medicinal and other products used to sustain and enhance human life. This market also includes horticulture and aquaculture. This market excludes proceeds from captive (internal) consumption of the agriculture and forest produce for further processing.

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The oilseed farming market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast growth by geography. It places the market within the context of the wider agriculture market, and compares it with other markets.